Assembly Bill A5014

2017-2018 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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2017-A5014 (ACTIVE) - Details

Current Committee:
Assembly Higher Education
Law Section:
Education Law
Laws Affected:
Add §6437-a, Ed L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7731
2015-2016: A6577
2019-2020: A4101

2017-A5014 (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.

2017-A5014 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5014
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 6, 2017
                                ___________
 
 Introduced  by  M.  of  A. ENGLEBRIGHT, PEOPLES-STOKES, JAFFEE -- Multi-
   Sponsored by -- M.  of A. COOK, GALEF, JENNE, LUPARDO, MOSLEY, RIVERA,
   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 6437-a
 to read as follows:
   § 6437-A. OVERPAYMENTS OF TUITION AND FEES. EVERY INSTITUTION OF HIGH-
 ER EDUCATION WHICH RECEIVES OR CREDITS TO A STUDENT'S ACCOUNT ANY  OVER-
 PAYMENT  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.
   § 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.
                                                            LBD03850-01-7

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