New York State Loan Forgiveness
Under certain conditions, you may have all or part of your education loans forgiven or cancelled in exchange for performing a qualifying service for a defined period of time. Although you do not have to repay the part of your loan that is forgiven or cancelled, you may owe taxes on the forgiven/cancelled amount in cases where the forgiven/cancelled amount is considered income.
| New York State Loan Forgiveness Programs for NYS Residents | |
|---|---|
| Title | Summary |
|
Loan Forgiveness for District Attorneys and Indigent Legal Services Attorneys |
Awards are offered to retain experienced attorneys employed as District Attorneys, Assistant District Attorneys or Indigent Legal Services Attorneys throughout New York State. |
|
Awards are made annually to social workers licensed to practice in New York State who have at least one year of prior employment working in a critical human service area. |
|
|
New York State Young Farmers Loan Forgiveness Incentive Program |
The New York State Young Farmers Loan Forgiveness Incentive Program is offered to encourage recent college graduates to pursue careers in farming in New York State. This program provides loan forgiveness awards to individuals who obtain an undergraduate degree from an approved New York State college or university and agree to operate a farm in New York State, on a full- time basis, for five years. |
|
The Get on Your Feet Loan Forgiveness Program allows students who graduate from a college or university located in NYS in 2014-15 or thereafter, continue to live in NYS upon college graduation, earn less than $50,000 per year, participate in either the federal Pay As You Earn (PAYE) or eligible Income Based Repayment (IBR) program, and apply within two years of graduating from college to be eligible to have their federal income-based repayment plan commitment covered for two years. |
|
|
This program seeks to increase the number of nursing faculty members and adjunct clinical faculty teaching in the field of nursing in New York State. |
|
|
The New York State Child Welfare Worker Loan Forgiveness Incentive Program provides student loan forgiveness awards for the purpose of attracting workers to be employed in NYS child welfare agencies. |
|
|
The NYS Teacher Loan Forgiveness Program is offered to increase the number of teachers serving in NYS. It provides loan forgiveness awards to teachers serving in high need school districts or subject areas for which a shortage of teachers exists. |
|