New Repayment Option for New York Borrowers

Starting in 2016, New York State will accept applications for the new ‘Get On Your Feet’ Loan Forgiveness Program, which offers up to 24 months of federal student loan debt relief to recent college graduates living in the state.

To qualify, applicants must have earned an undergraduate degree from a college or university located in New York in or after December 2014, have an adjusted gross income of less than $50,000, and be enrolled in the federal Income Based Repayment plan or Pay as You Earn plan. Recipients will have a maximum of 24 payments, equal to their monthly student loan repayment amount, paid on their behalf. Applications are accepted year round. Learn more about this program.