Assembly Bill A7731

2013-2014 Legislative Session

Requires institutions of higher education to provide notice to students with education loans that refunds of overpayments of tuition or fees are loan moneys that must be repaid to the lender

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2013-A7731 (ACTIVE) - Details

Current Committee:
Assembly Higher Education
Law Section:
Education Law
Laws Affected:
Add §6438, Ed L
Versions Introduced in Other Legislative Sessions:
2015-2016: A6577
2017-2018: A5014
2019-2020: A4101

2013-A7731 (ACTIVE) - Summary

Requires institutions of higher education to provide notice to students with education loans that refunds of overpayments of tuition or fees are loan moneys that must be repaid to the lender.

2013-A7731 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7731

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                              May 31, 2013
                               ___________

Introduced  by  M. of A. ENGLEBRIGHT, PEOPLES-STOKES, JAFFEE, ROBERTS --
  Multi-Sponsored by -- M. of A. CLARK, COOK, GABRYSZAK, GALEF, HEASTIE,
  LUPARDO, MOSLEY, ROSA, RUSSELL, SEPULVEDA, TITONE, WEISENBERG --  read
  once and referred to the Committee on Higher Education

AN ACT to amend the education law, in relation to requiring institutions
  of  higher education to provide conspicuous notice to students, having
  education loans, that refunds of overpayments of tuition or fees  have
  to be repaid to the lender

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The education law is amended by adding a new  section  6438
to read as follows:
  S  6438. OVERPAYMENTS OF TUITION AND FEES. EVERY INSTITUTION OF HIGHER
EDUCATION WHICH RECEIVES OR CREDITS TO A STUDENT'S ACCOUNT ANY  OVERPAY-
MENT  OF  TUITION  AND/OR  FEES, SHALL, IF SUCH STUDENT'S TUITION AND/OR
FEES ARE PAID BY MEANS OF ANY  TYPE  OF  EDUCATION  LOAN,  CONSPICUOUSLY
PROVIDE  NOTICE  TO  STUDENTS,  EITHER  AT  THE TIME A STUDENT ACCEPTS A
FINANCIAL AID OFFER OR DIRECTLY ON THE REFUND CHECK  FOR  SUCH  OVERPAY-
MENT,  THAT  THE REFUND IS LOAN MONEY THAT WILL HAVE TO BE REPAID TO THE
EDUCATION LOAN LENDER.
  S 2. This act shall take effect on the thirtieth day  after  it  shall
have become a law.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10503-02-3

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