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

* §  679-d.  New York state nursing faculty loan forgiveness incentive  program.  a.  Purpose.  (1)  The  president  shall  grant  student  loan  forgiveness awards for the purpose of increasing the number of educators  and  adjunct clinical faculty teaching in the field of nursing education  in New York state. Such awards shall be made on a competitive  basis  as  promulgated  by  the  corporation  through  rules  and  regulations,  to  applicants who are registered professional nurses with previous clinical  experience in nursing who have completed a masters program in nursing or  doctoral degree that  qualified  them  as  nursing  faculty  or  adjunct  clinical faculty.    (2)  To  be  eligible  for  an  award  pursuant  to  this subdivision,  applicants shall (i) be licensed as  a  registered  professional  nurse;  (ii) have an outstanding student loan debt from a nursing degree program  acquired  on  or  after  January  first,  two thousand one; (iii) have a  master's degree in nursing or doctoral degree  that  qualified  them  as  nursing  faculty  or  adjunct  clinical  faculty;  (iv) be employed as a  faculty member at a nursing school located in New York  state;  and  (v)  comply with subdivisions three and five of section six hundred sixty-one  of this part.    (3)  An  award  of  eight  thousand  dollars shall be made annually to  recipients who have provided classroom or clinical  instruction  of  not  less  than  twelve  academic credit hours, or its equivalent, as nursing  faculty or in clinical teaching service in the academic  year  preceding  the  granting  of  the  award,  provided that no recipient shall receive  cumulative awards, pursuant to this section, in excess of forty thousand  dollars.    (4) Other awards. Award recipients shall  be  eligible  to  apply  for  other awards.    b.  Duration.  Loan  forgiveness  awards  shall  be  made  annually to  applicants whom the corporation has certified are  eligible  to  receive  such  awards and have provided nursing faculty or clinical nurse faculty  services required pursuant to this article; provided that no award shall  be granted for more than five years.    c. Amount. The corporation shall grant such awards within the  amounts  appropriated  for  such purpose and based on availability of funds in an  amount not to exceed the total cost of the student loan debt.    * NB Repealed June 30, 2010