§ 679-c. Senator Patricia K. McGee nursing faculty scholarship program. 1. Purpose:

a. The president shall grant scholarship 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 and are enrolling in an approved program to obtain a master's degree in nursing or a doctoral degree that will qualify them as nursing faculty or adjunct clinical faculty.

b. To be eligible for an award pursuant to this subdivision, applicants shall (1) be a licensed registered nurse in New York state; (2) enroll in a master's degree program in nursing or doctoral degree program that will qualify them as nursing faculty or adjunct clinical faculty in New York state; (3) agree to practice in New York state as nursing faculty upon completion of such degree program; and (4) comply with subdivisions three and five of section six hundred sixty-one of this part.

2. Award conditions and requirements. Scholarships shall be awarded on a competitive basis as promulgated by the corporation through rules and regulations to applicants whom the corporation has certified are eligible to receive such awards; and who agree to provide not less than twelve academic credit hours or its equivalent as nursing faculty or clinical teaching service for the duration of at least four years upon completion of the degree program.

3. Amount. The corporation shall grant such awards within the amounts appropriated for such purpose and based on availability of funds according to a schedule to be determined by the corporation in an amount:

a. equal to the tuition charged to state resident students attending a master's degree program in nursing or doctoral degree program that will qualify them as nursing faculty or adjunct clinical faculty at the state university of New York; the average mandatory fees charged at the state university of New York, or the actual tuition and fees charged to the recipient, whichever is less; and the average non-tuition cost of attendance, as determined by the corporation and as approved by the director of the budget, for a student at the state university of New York or actual non-tuition cost of attendance at such institution, whichever is less, provided that the scholarship shall not exceed an amount that is equal to the total cost of attendance determined for federal Title IV student financial aid purposes, less all other scholarships and grants provided by New York state, other states, the federal government, or other governments, and the amount of educational benefits paid under any program that would duplicate the purposes of this program, provided that any scholarships or grants provided to a recipient by the institution which are intended to fund any portion of the difference between the annual state award and the actual costs of attendance at any such institution shall not be considered to duplicate the purposes of this program.

b. The total cost of the Senator Patricia K. McGee nursing faculty scholarship program shall not exceed an annual cost of two million dollars, and no annual award shall exceed twenty thousand dollars.

4. Other awards. Award recipients shall be eligible to apply for other awards.

5. Penalties for noncompliance. a. The corporation shall convert to a student loan the full amount of the award given pursuant to this section, plus interest, according to a schedule to be determined by the corporation if: (1) three years after the completion of the degree program it is found that an applicant did not begin to provide nursing faculty or clinical nurse faculty services; (2) if such applicant does not provide nursing faculty or clinical nursing faculty services for four years within seven years of the completion of the master's degree program in nursing or doctoral degree; or (3) the student fails to receive a master's degree in nursing or doctoral degree that will qualify them as nursing faculty or adjunct clinical faculty within the three years of receiving the award. The terms and conditions of this subdivision shall be deferred for any interruption in graduate or doctoral study or employment as established by the rules and regulations of the corporation. Any obligation to comply with such provisions as outlined in this section shall be cancelled upon the death of the recipient. Notwithstanding any provisions of this subdivision to the contrary, the corporation is authorized to promulgate rules and regulations to provide for the waiver or suspension of any financial obligation which would involve extreme hardship.

b. The rate of interest charged for repayment of the student loan shall be determined pursuant to rules and regulations promulgated by the corporation.