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Assembly Bill A6577

2015-2016 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

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Archive: Last Bill Status - In Assembly Committee

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2015-A6577 (ACTIVE) - Details

Current Committee:
Assembly Higher Education
Law Section:
Education Law
Laws Affected:
Add §6439, Ed L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7731
2017-2018: A5014
2019-2020: A4101

2015-A6577 (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.

2015-A6577 (ACTIVE) - Bill Text download pdf 

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

                                  6577

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             March 27, 2015
                               ___________

Introduced  by  M. of A. ENGLEBRIGHT, PEOPLES-STOKES, ROBERTS, JAFFEE --
  Multi-Sponsored by -- M. of A. CLARK, COOK,  GALEF,  LUPARDO,  MOSLEY,
  RIVERA,  RUSSELL,  SEPULVEDA, TITONE, WRIGHT -- 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 6439
to read as follows:
  S 6439. 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.
                                                           LBD10131-01-5

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