Senator Patricia K. McGee Nursing Faculty Scholarship Program - Service Terms and Conditions
A recipient of a Senator Patricia K. McGee Nursing Faculty Scholarship Program award must execute a Service Contract which includes these conditions:
- Agrees to complete the service obligation by teaching at least 12 academic credit hours, or its equivalent, as nursing faculty or as adjunct clinical faculty for four years at an institution in New York State.
- teaching must commence within three years of completion of the graduate degree program;
- Agrees to repay the amounts disbursed plus interest pursuant to the terms of their Service Contract if the recipient:
- fails to begin the service obligation within three years of completion of the graduate degree program, or
- fails to provide four years of teaching services within seven years of completion of the graduate degree program, or
- fails to complete their graduate program within three years, or
- fails to respond to all requests by HESC for status of their academic or professional progress, or
- breaches 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 federal undergraduate Direct Stafford Unsubsidized 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 and the Service Contract.