Loading chat...
NY A00639
Bill
Status
1/8/2025
Primary Sponsor
Ron Kim
Click for details
AI Summary
-
Requires the Labor Commissioner, in consultation with the Higher Education Services Corporation president and Superintendent of Financial Services, to develop written materials about student loan repayment options, including consolidation, income-based repayment plans, and federal loan programs
-
Mandates all New York employers provide student loan repayment information notices to new hires for post-graduate internships or entry-level positions requiring an associate's degree or higher
-
Requires public employers to additionally provide information about public service loan forgiveness programs to eligible new hires
-
Defines "student loan" as any loan financing post-secondary education or related expenses, and "borrower" as any state resident with a student loan obligation
-
Takes effect 180 days after becoming law, with authority to develop implementing regulations immediately upon enactment
Legislative Description
Directs the development of materials to be provided to new employees relating to student loan repayment information.
Last Action
referred to banks
1/7/2026