Deputy Majority Leader Senator John A. DeFrancisco (R-I-C, Syracuse) announced that New York State began accepting applications for a new student loan forgiveness program Thursday, Dec. 31.
The New York State “Get on Your Feet” loan forgiveness program provides up to 24 months of federal student loan debt relief to recent college graduates who are participating in a federal income-based repayment plan and whose payments are generally capped at 10 percent of their discretionary income. Payments would be made directly to the borrower’s federal student loan servicer(s).
“Graduates who are faced with unmanageable student loan debt often have a hard time dealing with everyday costs of living,” DeFrancisco said. “I encourage recent college graduates to look into the ‘Get On Your Feet’ program, as it could help to alleviate some of their debt and ensure them a more successful start in the career world.”
A person applying to the “Get On Your Feet” program must have graduated from a New York State high school, earned an undergraduate degree from a college or university located in New York in or after the 2014-15 academic year, and must have an adjusted gross income of less than $50,000. For a full list of eligibility requirements, and for more information on how to apply, please visit defrancisco.nysenate.gov.
