Assembly Bill A4101

2019-2020 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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2019-A4101 (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
2017-2018: A5014

2019-A4101 (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.

2019-A4101 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4101
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 1, 2019
                                ___________
 
 Introduced  by  M.  of  A. ENGLEBRIGHT, PEOPLES-STOKES, JAFFEE -- Multi-
   Sponsored by -- M.  of A. COOK, GALEF, LUPARDO, MOSLEY, RIVERA, 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.
                                                            LBD08498-01-9

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