The U.S. government offers a number of Loan Forgiveness Programs to its federal students of New York State. The different programs under the NYS Loan Forgiveness permits eligible individuals to repay or clear their federal student loan debt by working in a qualified service department for a definite time interval.
New York State Loan Forgiveness Programs
So, if you are an individual who is looking for a way to pay back your student loan amount then this article is for you. This article covers the major loan forgiveness programs of New York State which allows individuals to clear their debt in exchange for a job in a qualified service department. It provides full information including eligibility criteria for each NYS loan forgiveness program.
Overview: New York State Loan Forgiveness Programs
| Article On | New York State Loan Forgiveness Programs |
| Country | USA |
| Department | Higher Education Services Corporation |
| Program Name | New York State Loan Forgiveness Programs |
| Beneficiaries | Eligible students |
| Category | Finance |
| Official Website | hesc.ny.gov |
Here are the different New York State Loan Forgiveness Programs
Teacher Loan Forgiveness Program
Under this program, the Higher Education Services Corporation forgives loan amounts of those individuals who are working as a full-time teacher in a secondary or elementary school in New York State. The government provides over $5,000 on an annual basis to eligible recipients who have taken loans including private student loans, federal or NYS government loans. The amount of $20,000 within the Teacher Loan Forgiveness Program is provided for almost 4 years to the eligible recipients.
Eligibility Criteria for the Teacher Loan Forgiveness Program
- An individual who has been living in New York State for the past 12 months or is a U.S. citizen.
- A full-time employee in a secondary or elementary school in New York State where he or she is teaching in an area with a lack of qualified personnel.
- Individuals who have certification of teaching in New York State.
- A non-defaulter recipient who has outstanding balance in an eligible loan type.
Child Welfare Worker Loan Forgiveness Incentive Program
Within this program, the U.S government offers almost $10,000 annually to the individuals who have been working full-time as a child welfare worker at a NYS licensed child welfare agency for five years.
Eligibility Criteria for the Child Welfare Worker Loan Forgiveness Incentive Program
- An individual who has been living in New York State for the past 12 months or is a U.S. citizen.
- A person who studied and got his or her degree from a New York State university or college.
- Individuals who have applied for this program immediately after 2 years of their graduation.
- A non-defaulter recipient who has outstanding balance in an eligible loan type.
- Working at a child welfare agency in NYS which is OCFS-licensed from the past 5 years.
Nursing Faculty Loan Forgiveness (NFLF) Incentive Program
In NFLF Incentive Program, the U.S. government forgives student loans of those individuals who are working as a nursing faculty in New York State. An annual amount of over $8,000 is provided to the eligible recipients thus a total of $40,000 is received under this program.
Eligibility Criteria for the Nursing Faculty Loan Forgiveness (NFLF) Incentive Program
- An individual who has been living in New York State for the past 12 months or is a U.S. citizen.
- Individuals who have been working at a nursing school or certified clinical faculty in New York State.
- Registered nurses who have a license for practising in New York State.
- A non-defaulter recipient who has outstanding balance in an eligible loan type.
Get on Your Feet Loan Forgiveness Program
This program is designed for those individuals who have recently graduated from the New York State college and enrolled in one of the Income-Driven Repayment plans such as Pay as You Earn (PAYE) plan.
Eligibility Criteria for the Get on Your Feet Loan Forgiveness Program
- An individual who has been living in New York State for the past 12 months or is a U.S. citizen.
- Applicants of Income-Driven Repayment (IDR) plan and earn around $50,000 grossly.
- Eligible recipients who have completed their graduation or schooling from a NYS college or high school.
- A non-defaulter recipient who has outstanding balance in an eligible loan type.
Young Farmer Loan Forgiveness Incentive Program
This program is designed for individuals who are working as a full-time farmer in New York State for five years. An annual amount of $10,000 is provided to eligible recipients who are managing a farm in New York State for the past 5 years.
Eligibility Criteria for the Young Farmer Loan Forgiveness Incentive Program
- An individual who has been living in New York State for the past 12 months or is a U.S. citizen.
- Eligible recipients who have completed their graduation or schooling from a NYS college or high school.
- A non-defaulter recipient who has outstanding balance in an eligible loan type.
- A full-time farmer at a farm in New York State for five years.
Licensed Social Worker Loan Forgiveness (LSWLF) Program
Under this program, the U.S. government disburses an annual amount of $6.500 to the people who are licensed social workers at a crucial social service department.
Eligibility Criteria for the Licensed Social Worker Loan Forgiveness (LSWLF) Program
- An individual who has been living in New York State for the past 12 months or is a U.S. citizen.
- Professional and licensed social workers who have been practising at a crucial social service department in New York State for 35 hours weekly.
- A non-defaulter recipient who has outstanding balance in an eligible loan type.
District Attorney and Indigent Legal Services Attorney Loan Forgiveness Program (DALF)
Within this program, the U.S government provides an annual amount of over 3,400 to the full-time Indigent Legal Services Attorney, Assistant District Attorney, or District Attorney who are working for four to nine years in New York State.
Eligibility Criteria for the District Attorney and Indigent Legal Services Attorney Loan Forgiveness Program (DALF)
- An individual who has been living in New York State for the past 12 months or is a U.S. citizen.
- A non-defaulter recipient who has outstanding balance in an eligible loan type.
- A full-time Indigent Legal Services Attorney, Assistant District Attorney, or District Attorney who is working for four to nine years in New York State.
| Official Website | Click Here |
| Homepage | UniversityPressClub.Com |
Ember Orion is a journalism student who loves to write about social security and government schemes. Ember’s dream is to become a top-level anchor in the USA.