Establishes the New York Reinvests in Student Educational Supports Program to provide eligible students with access to responsible, affordable.

The bill establishes the New York Reinvests in Student Educational Supports Program to provide eligible students with access to responsible, affordable educational loans to supplement available federal student aid. It defines terms such as "education loan," "eligible borrower," and "eligible college." The program allows for the establishment of default reserve funds, collection fees, and criteria for lender underwriting and education loan purchases. It also outlines repayment terms, including administrative wage garnishment and tax offsets for defaulted loans.

Establishes the New York Reinvests in Student Educational Supports Program to provide eligible students with access to responsible, affordable.

The bill establishes the New York Reinvests in Student Educational Supports Program to provide eligible students with access to responsible, affordable educational loans to supplement available federal student aid. It defines terms such as "education loan," "eligible borrower," and "eligible college." The program allows for the establishment of default reserve funds, collection fees, and criteria for lender underwriting and education loan purchases. It also outlines repayment terms, including administrative wage garnishment and tax offsets for defaulted loans.