NYS Science, Technology, Engineering, and Mathematics (STEM) Incentive Progam - Service Terms and Conditions

Applicants for the NYS Science, Technology, Engineering, and Mathematics Incentive Progam awards must execute a Service Contract in which they:

  • Agree to work full-time for five years in an approved occupation in the fields of science, technology, engineering, or mathematics in New York State, while maintaining residency within the State, regardless of the number or amount of award payments.
  • Agree to repay the amounts disbursed plus interest pursuant to the terms of their Service Contract if they:
    • fail to complete an approved undergraduate program in science, technology, engineering
      or mathematics; or
    • change majors to a program of undergraduate study other than in science, technology, engineering or mathematics; or
    • fail to complete five years of continuous full-time employment in an approved STEM occupation with a public or private entity located within New York State upon completion of their undergraduate degree program; or
    • fail to maintain residency in New York State for such period of employment; or
    • fail to respond to requests by HESC for the status of their academic or
      professional progress; or
    • breach the terms of the Service Contract.

Failure to comply with the statutory, regulatory, contractual, administrative or other requirements of this program will result in the following repayment penalties:

  • All award monies received shall convert to a 10-year student loan plus interest.
  • Interest rate for the life of the loan shall be fixed and equal to that published annually by the U.S. Department of Education for Undergraduate Unsubsidized Stafford loans at the time the Service Contract is signed.
  • Interest accrues from the day each award payment is disbursed.
  • Interest is capitalized on the day the award recipient violates the Service Contract or on the date HESC deems the recipient was no longer able or willing to perform the terms of the Service Contract.