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
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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