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Senate Bill S2128

2009-2010 Legislative Session

Protects six month "grace period" for borrowers of student loans called to active duty who resume education program

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Archive: Last Bill Status - In Senate Committee Higher Education Committee

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2009-S2128 (ACTIVE) - Details

See Assembly Version of this Bill:
A7346
Current Committee:
Senate Higher Education
Law Section:
Education Law
Laws Affected:
Amd ยง683, Ed L
Versions Introduced in Other Legislative Sessions:
2011-2012: A5578
2013-2014: A5798
2015-2016: A6435

2009-S2128 (ACTIVE) - Summary

Protects six month "grace period" for borrowers of student loans called to active duty who resume education program.

2009-S2128 (ACTIVE) - Sponsor Memo

2009-S2128 (ACTIVE) - Bill Text download pdf 

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

                                  2128

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                            February 11, 2009
                               ___________

Introduced by Sens. GOLDEN, LANZA, PADAVAN, SALAND, VOLKER -- read twice
  and ordered printed, and when printed to be committed to the Committee
  on Higher Education

AN  ACT  to  amend  the  education law, in relation to student loans for
  persons in military service

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

  Section 1. Section 683 of the education law is amended by adding a new
subdivision 7 to read as follows:
  7.  THE  SIX MONTH "GRACE PERIOD" FOR REPAYMENT OF A LOAN SET FORTH IN
SUBDIVISION ONE OF THIS SECTION SHALL NOT APPLY TO A  BORROWER  WHO  IS:
(A)  A  MEMBER  OF  THE NATIONAL GUARD OR OTHER RESERVE COMPONENT OF THE
ARMED FORCES OF THE UNITED STATES AND IS CALLED  OR  ORDERED  TO  ACTIVE
DUTY,  AS  DEFINED  IN  10 USC S 101(D)(1), OR (B) A MEMBER OF THE STATE
ORGANIZED MILITIA, AND IS CALLED OR  ORDERED  TO  ACTIVE  DUTY  FOR  THE
STATE, AS DEFINED IN SUBDIVISION ONE OF SECTION SIX OF THE MILITARY LAW,
AND  AS  A  RESULT  IS  COMPELLED TO TERMINATE HIS COLLEGE OR VOCATIONAL
INSTITUTION PROGRAM. SHOULD THE BORROWER RETURN TO A  COLLEGE  OR  VOCA-
TIONAL  INSTITUTION  UPON  TERMINATION  OF HIS MILITARY SERVICE, THE SIX
MONTH "GRACE PERIOD" SET FORTH IN SUBDIVISION ONE OF THIS SECTION  SHALL
THEN  BE  AVAILABLE  TO  THE  BORROWER UPON COMPLETION OF HIS COLLEGE OR
VOCATIONAL INSTITUTION PROGRAM.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08269-01-9

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