§ 679-D — New York state nursing faculty loan forgiveness incentive program

§ 679-d. New York state nursing faculty loan forgiveness incentive\nprogram. a. Purpose. (1) The president shall grant student loan\nforgiveness awards for the purpose of increasing the number of educators\nand adjunct clinical faculty teaching in the field of nursing education\nin New York state. Such awards shall be made on a competitive basis as\npromulgated by the corporation through rules and regulations, to\napplicants who are registered professional nurses with previous clinical\nexperience in nursing who have completed a masters program in nursing or\ndoctoral degree that qualified them as nursing faculty or adjunct\nclinical faculty.\n (2) To be eligible for an award pursuant to this subdivision,\napplicants shall (i) be licensed as a registered professional nurse;\n(ii) have an outstanding student loan debt from a nursing degree program\nacquired on or after January first, two thousand one; (iii) have a\nmaster's degree in nursing or doctoral degree that qualified them as\nnursing faculty or adjunct clinical faculty; (iv) be employed as a\nfaculty member at a nursing school located in New York state; and (v)\ncomply with subdivisions three and five of section six hundred sixty-one\nof this part.\n (3) An award of eight thousand dollars shall be made annually to\nrecipients who have provided classroom or clinical instruction of not\nless than twelve academic credit hours, or its equivalent, as nursing\nfaculty or in clinical teaching service in the academic year preceding\nthe granting of the award, provided that no recipient shall receive\ncumulative awards, pursuant to this section, in excess of forty thousand\ndollars.\n (4) Other awards. Award recipients shall be eligible to apply for\nother awards.\n b. Duration. Loan forgiveness awards shall be made annually to\napplicants whom the corporation has certified are eligible to receive\nsuch awards and have provided nursing faculty or clinical nurse faculty\nservices required pursuant to this article; provided that no award shall\nbe granted for more than five years.\n c. Amount. The corporation shall grant such awards within the amounts\nappropriated for such purpose and based on availability of funds in an\namount not to exceed the total cost of the student loan debt.\n