senate Bill S7308

2013-2014 Legislative Session

Requires the conducting of a study of feasible alternative methods of funding a college education at public four-year institutions of higher learning in New York state

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 09, 2014 referred to higher education

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S7308 - Bill Details

Current Committee:
Law Section:
Education

S7308 - Bill Texts

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Requires the conducting of a study by the board of regents of feasible alternative methods of funding a college education at public four-year institutions of higher learning in New York state.

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BILL NUMBER:S7308

TITLE OF BILL: An act to require the conducting of a study by the
board of regents of feasible alternative methods of funding a college
education at public four-year institutions of higher learning in New
York state

PURPOSE OR GENERAL IDEA OF BILL:

This bill seeks to authorize a commission to assess the feasibility of
alternative methods to pay for college educations at colleges and
universities that fall under the State's jurisdiction. The commission
would determine if it is feasible to have students finance their
educations after they have completed their studies and by having a
percentage (yet to be determined) of their future earnings earmarked
for set period of time (yet to be determined) to pay off their loans.

SUMMARY OF SPECIFIC PROVISIONS:

Section 1 describes pilot program.

Section 2 describes what warrants a pilot program. Section 3 depicts
what the pilot program is assigned to do. Section 4 outlines the
variations in the pilot program.

JUSTIFICATION:

Public investment in higher education in this state has decreased over
the past decade, resulting in substantial increases in annual tuition,
fees and room and board imposed by public four-year and two-year
institutions of higher education in the state. These increases have
out-paced increases in the average family income in the state, forcing
students to incur larger amounts of debt in order to afford to attend
college. The average student loan debt of students graduating from
public four-year institutions of higher education in New York now
exceeds $25,000. Such high levels of student debt are damaging not
only to the individual student's ability to succeed financially but
also will have grave consequences for the future economy of this
state.

PRIOR LEGISLATIVE HISTORY:

New Bill

FISCAL IMPLICATIONS:

None

EFFECTIVE DATE:

This act shall take effect immediately.

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

                                  7308

                            I N  S E N A T E

                               May 9, 2014
                               ___________

Introduced  by  Sen.  RIVERA -- read twice and ordered printed, and when
  printed to be committed to the Committee on Higher Education

AN ACT to require the conducting of a study by the board of  regents  of
  feasible  alternative methods of funding a college education at public
  four-year institutions of higher learning in New York state

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

  Section  1.  The  legislature recognizes that post-secondary education
has expanded opportunities for New Yorkers to qualify  for  high-quality
jobs  and  entry into the middle class, providing clear benefits to this
state's economy.
  Regrettably, public investment in higher education in this  state  has
decreased  over  the  past decade, resulting in substantial increases in
annual tuition, fees and room and board imposed by public four-year  and
two-year  institutions of higher education in the state. These increases
have out-paced increases in the average  family  income  in  the  state,
forcing  students  to incur larger amounts of debt in order to afford to
attend college. The average student loan  debt  of  students  graduating
from  public  four-year institutions of higher education in New York now
exceeds $25,000.
  Such high levels of student debt are damaging not only to the individ-
ual student's ability to succeed financially but also  will  have  grave
consequences for the future economy of this state.
  The  legislature  finds  that it must halt the decrease in the state's
support for public education and, over time, must increase its  contrib-
ution  to  the funding of higher education. It also finds that the state
must immediately seek another approach to financing the students'  share
of  the  cost  of  public  higher  education in this state that will not
result in students  graduating  from  New  York's  public  colleges  and
universities burdened with debt.
  S  2.  The  board of regents shall consider the creation of a proposed
pilot program called "Pay Forward, Pay Back".
  (a) The pilot program would:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11731-02-4

S. 7308                             2

  (i) Replace the current system of charging students tuition  and  fees
for enrollment at public institutions of higher education; and
  (ii)  Identify  one or more public institutions of higher education to
participate in the pilot program.
  (b) If the board  of  regents  determines  that  a  pilot  program  is
warranted,  the  commission shall submit a proposed pilot program to the
2016 regular session of the legislature for approval.
  (c) The proposed pilot program shall:
  (i) Allow students who are residents of this state, as defined by  the
institution,  and who qualify for admission to the institution to enroll
in the institution without paying tuition or fees;
  (ii) Provide that, in lieu of paying tuition or  fees,  students  must
sign  binding  contracts to pay to the state of New York or the institu-
tion a certain percentage of the student's annual adjusted gross  income
upon graduation from the institution for a specified number of years;
  (iii)  Specify  the  number  of  years  and  the  percentage of annual
adjusted gross income for contracts at  each  participating  institution
and base the specifications on research to date; and
  (iv)  Establish  an  immediate  funding  source for the first 15 to 20
years of the pilot program and include the establishment of a  revolving
fund to deposit payments made under the pilot program.
  (d) The pilot program may vary by institution depending on:
  (i) The total cost of education at the institution.
  (ii) The portion of the cost that is paid by the state.
  (iii) The number of years specified in the contract.
  (iv)  The  percentage of annual adjusted gross income specified in the
contract.
  S 3. (a) The board of regents shall conduct a study on whether  public
universities  in  the  state can successfully implement a tuition freeze
that will guarantee that incoming undergraduate students have  the  same
tuition rate for four years. The study must include an analysis of:
  (i)  The 'Western Tuition Promise' offered by Western Oregon Universi-
ty;
  (ii) The 'Finish in Four' program proposed in Florida; and
  (iii) Ways of mitigating the financial strain that the adoption  of  a
tuition freeze would place on a university's finances.
  (b)  The board of regents shall submit a report on the study described
in subdivision (a) of this section to the committees relating to  higher
education during the 2015 regular session of the legislature.
  S 4. This act shall take effect immediately.

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