N.Y. Comp. Codes R. & Regs. tit. 8, § 2201.10 – New York State Math and Science Teaching Incentive Program.

(1) Academic year shall mean one calendar year beginning July 1st and ending on June 30th.
(2) Corporation shall mean the New York State Higher Education Services Corporation.
(3) Program shall mean the New York State Math and Science Teaching Incentive Program codified in section 669-d of the Education Law.
(4) Rank shall mean the sum of an applicant's cumulative undergraduate and graduate grade point average (GPA) plus total undergraduate and graduate credit hours successfully completed.
(5) Secondary education shall mean grades 7 through 12.
(6) Successful completion of an academic year shall mean that at the end of any academic year, the applicant: maintained full-time status; completed at least 27 credit hours or its equivalent in a course of study leading to a teaching degree in the fields of math or science; with a minimum GPA of 2.5; and possesses a cumulative GPA of 2.5 or higher for all academic years of undergraduate and graduate study. Applicants may complete less than 27 credit hours if they are in their last year and fewer than 27 credit hours are necessary to complete their course of study. In this case, the award amount shall be pro-rated by credit hour.
(7) Teach in the classroom on a full-time basis shall mean a New York State certified teacher, teaching a math or science curriculum in secondary education, providing classroom instruction for 10 continuous months, each school year, for a number of hours to be determined by either the school district, school board or school, the bylaws thereof, the labor contract between the teacher and employer, or if none of the above apply, the chief administrator of the school. Verification may be requested by the corporation and may consist of a written, signed certification from the school board, superintendent or principal.
(b) Eligibility.
In addition to the requirements of section 669-d of the Education Law, these additional requirements shall apply in the selection of the program recipients:
(1) Applications for the program shall be postmarked or electronically transmitted to the corporation no later than February 1st of each year, provided that this deadline may be extended at the discretion of the corporation.
(2) Applications shall be filed on forms prescribed by the corporation.
(3) The pool of applicants shall be those who have successfully met the filing deadline.
(4) The applicant shall have a cumulative GPA of 2.5 or higher for all undergraduate and graduate study at the time of the application.
(5) Successful applicants shall execute a service contract prescribed by the corporation.
(6) Successful applicants, who have executed a service contract, shall apply for payment each year on forms specified by the corporation.
(c) Priorities.
If there are more applicants than available funds, the following provisions shall apply:
(1) First priority shall be given to applicants who have received payment of an award pursuant to section 669-d of the Education Law for the academic year immediately preceding the academic year for which payment is sought and have successfully completed the academic year for which payment is sought.
(2) Second priority shall be given to applicants who have received payment of an award pursuant to section 669-d of the Education Law in any prior academic year and have successfully completed the academic year for which payment is sought.
(3) Third priority shall be given to applicants, including re-applicants, who have never received an award, and have successfully completed the academic year for which payment is sought, according to rank and who otherwise meet the minimum eligibility requirements.
(4) In the event of a tie within any given priority, recipients shall be chosen by random selection. Random selection shall be conducted by lottery.
(d) Disqualifications.
In addition to the provisions of section 669-d, as well as the restrictions of section 661(6) of the Education Law, the applicant shall be disqualified from receiving an award for any of the following conditions:
(1) The applicant fails to meet any statutory or regulatory requirement necessary to obtain a teaching certificate in math or science, or necessary to become a math or science teacher in secondary education.
(2) The applicant breaches the terms of the written service contract with the corporation and fails to remedy such breach in a timely manner consistent with the terms and conditions of such contract.
(3) The award is duplicative of another State and/or Federal award that the applicant currently receives.
(4) The applicant has a service obligation owed to any other State and/or Federal program.
(5) The applicant is in default on a federally guaranteed student loan.
(e) Disbursements.
Payment shall be made directly to the eligible institutions, on behalf of applicants, within a reasonable time upon the successful completion of the academic year subject to the verification and certification by the institution of the applicant's GPA and other eligibility requirements.
(f) Penalty.
In addition to the requirements of section 669-d(5) of the Education Law, the following requirements shall apply in converting the award to a loan:
(1) All award monies received shall convert to a 10-year student loan plus interest for recipients who fail to meet the statutory, regulatory, contractual, administrative or other requirements of this program.
(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 Federal Direct Loan Program PLUS parent loans pursuant to the terms of the service contract.
(3) Interest accrues from the day each award payment is disbursed.
(4) Interest shall be capitalized on the day the award recipient violates the service contract or on the date the corporation deems the recipient was no longer able or willing to perform the terms of the service contract.

(a) Definitions.