ESC-52-14-00017-P New York State Math and Science Teaching Incentive Program

12/31/14 N.Y. St. Reg. ESC-52-14-00017-P

NEW YORK STATE REGISTER

VOLUME XXXVI, ISSUE 52

December 31, 2014

RULE MAKING ACTIVITIES

HIGHER EDUCATION SERVICES CORPORATION

PROPOSED RULE MAKING

NO HEARING(S) SCHEDULED

 

I.D No. ESC-52-14-00017-P

New York State Math and Science Teaching Incentive Program

PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:

Proposed Action:

This is a consensus rule making to amend section 2201.10 of Title 8 NYCRR. This rule is proposed purusant to [SAPA § 207(3)], 5-Year Review of Existing Rules.

Statutory authority:

Education Law, sections 653, 655 and 669-d

Subject:

New York State Math and Science Teaching Incentive Program.

Purpose:

To delete an outdated and incorrect reference.

Text of proposed rule:

Paragraph (2) of subdivision (f) of section 2201.10 is amended to read as follows:

(2) Interest for the life of the loan shall be fixed and equal to that published annually by the U.S. Department of Education for [FFELP] Federal Direct Loan Program PLUS parent loans pursuant to the terms of the service contract.

Text of proposed rule and any required statements and analyses may be obtained from:

Cheryl B. Fisher, NYS Higher Education Services Corporation, 99 Washington Avenue, Room 1325, Albany, New York 12255, [phone], email: [e-mail]

Data, views or arguments may be submitted to:

Same as above.

Public comment will be received until:

45 days after publication of this notice.

Consensus Rule Making Determination

This statement is being submitted pursuant to subparagraph (i) of paragraph (b) of subdivision (1) of section 202 of the State Administrative Procedure Act and in support of the New York State Higher Education Services Corporation’s (HESC) Notice of Proposed Rule Making seeking to amend section 2201.10 of Title 8 of the Official Compilation of Codes, Rules and Regulations of the State of New York (NYCRR).

It is apparent from the nature and purpose of this rule that no person is likely to object to the adoption of the rule as written. Section 2201.10 provides that in converting an award to a loan, the interest shall be equivalent to the rate published annually by the U.S. Department of Education for Federal Family Education Loan Program (FFELP) PLUS parent loans. Pursuant to federal law, the origination of FFELP loans ceased as of July 1, 2010. As a result, the reference to FFELP loans is outdated. This rule corrects the reference to reflect use of Federal Direct Loan Program PLUS parent loan interest rates.

Consistent with the definition of “consensus rule”, as set forth in section 102(11) of the State Administrative Procedure Act, HESC has determined that this proposal, which deletes an outdated and incorrect reference, is non-controversial and, therefore, no person is likely to object to its adoption.

Reasoned Justification for Modification of the Rule

This statement is being submitted pursuant to subdivision (3) of section 207 of the State Administrative Procedure Act and in support of the New York State Higher Education Services Corporation’s (HESC) Notice of Proposed Rule Making seeking to amend section 2201.10 of Title 8 of the Official Compilation of Codes, Rules and Regulations of the State of New York (NYCRR).

Section 2201.10 provides that in converting an award to a loan, the interest shall be equivalent to the rate published annually by the U.S. Department of Education for Federal Family Education Loan Program (FFELP) PLUS parent loans. Pursuant to federal law, the origination of FFELP loans ceased as of July 1, 2010. As a result, the reference to FFELP loans is outdated and must instead reference Federal Direct Loan Program loans. This rule corrects the incorrect reference.

Job Impact Statement

This statement is being submitted pursuant to subdivision (2) of section 201-a of the State Administrative Procedure Act and in support of the New York State Higher Education Services Corporation’s (Corporation) Notice of Proposed Rulemaking seeking to amend section 2201.10 to Title 8 of the Official Compilation of Codes, Rules and Regulations of the State of New York.

It is apparent from the nature and purpose of this rule that it has no impact on jobs and employment opportunities. This rule deletes an outdated and incorrect reference to Federal Family Education Loan Program (FFELP) PLUS parent loans, which are no longer originated and instead references Federal Direct Loan Program PLUS parent loans.

The Corporation has determined that this rule will have no substantial adverse impact on any private or public sector jobs or employment opportunities and therefore a full Job Impact Statement is not necessary.