NYS Get on Your Feet Loan Forgiveness Program
GOYF Program Application
HESC is pleased to announce that the GOYF Program Application is now available.
The NYS Get on Your Feet Loan Forgiveness Program provides up to 24 months of federal student loan debt relief to recent NYS college graduates who are participating in a federal income-driven repayment plan whose payments are generally capped at 10 percent of their discretionary income.
An applicant must:
- be a legal resident of NYS and have resided in NYS for 12 continuous months;
- be a U.S. citizen or eligible non-citizen;
- have graduated from a NYS high school or received a NYS high school equivalency diploma;
- have earned an undergraduate degree from a college or university located in NYS in or after December 2014;
- have earned no higher than a bachelor’s degree at the time of application;
- apply for this program within two years of receiving an undergraduate degree;
- be enrolled in the federal Income Based Repayment plan at 10% of discretionary income, the Pay as You Earn plan, or the Revised Pay as You Earn plan;
- have a primary work location in NYS, if employed;
- have an adjusted gross income of less than $50,000;
- be current on all federal or NYS student loans;
- be current on the repayment of any NYS award; and
- be in compliance with the terms of any service condition imposed by a NYS award.
Eligible Student Loans
Eligible student loans include federal loans in the federal Income Based Repayment plan at 10% of discretionary income, the Pay as You Earn plan, and the Revised Pay as You Earn plan.
If you have multiple federal loans, you may have multiple loan servicers. If you are unsure about your loan information, visit the U.S. Department of Education’s National Student Loan Data Systems (NSLDS) for details about your federal student loans and servicers.
A recipient receives a maximum of 24 payments equal to the amount of the monthly federal repayment plan payment, provided the recipient continues to meet the Program’s eligibility requirements.
Note: Any loan forgiveness award payment made on your behalf may have tax implications. Recipients will receive a 1099 form, issued by the NYS Office of the State Comptroller, reflecting the total loan forgiveness payments made for the tax year. Any questions regarding potential tax implications should be directed to a tax professional, the Internal Revenue Service, or the NYS Department of Taxation and Finance.
Payments are available for up to 24 months.
How to Apply
Please note that the processing of your application may be delayed while HESC works to resume normal operations.
Payments will be made directly to the borrower’s federal student loan servicer(s).
Frequently Asked Questions
View commonly asked questions pertaining to GOYF.