New York Student Loan Forgiveness Programs

New Yorkers facing student loan debt can find relief through various state-specific forgiveness programs. Yes, student loans can be forgiven in New York State (NYS), reducing financial stress and allowing you to focus on your career.

Ahead, we’ll discuss forgiveness programs available exclusively to New York residents, such as the NYS Get On Your Feet Student Loan Forgiveness Program, District Attorney and Indigent Legal Services Attorney Loan Forgiveness Program, and more.

Additionally, we’ll cover federal loan forgiveness programs available to eligible borrowers nationwide.

Related: State Programs for Student Loan Forgiveness

Student loan forgiveness is the cancellation or discharge of a borrower’s student loan, either partially or entirely.

Offered through designated programs and conditions, forgiveness aims to support graduates and parents who’ve taken loans for higher education. These programs ease student loan debt burdens and incentivize borrowers to work in specific fields or industries, particularly in underserved areas.

For example, a teacher might receive loan forgiveness for working in a low-income school district, helping to alleviate their debt while also providing valuable educational services to the community. Alternatively, a borrower enrolled in an income-driven repayment plan could qualify for forgiveness after making payments for 20 or more years, offering long-term financial relief.

Related: Income-Based Repayment Plan Forgiveness

Yes, student loans can be forgiven in New York State through various state-specific forgiveness programs.

These programs are designed to help eligible residents reduce their student loan debt and promote careers in high-need areas, critical professions, or underserved communities.

Examples include the NYS Get On Your Feet Student Loan Forgiveness Program and the NYS Licensed Social Worker Loan Forgiveness Program. More on those below.

Additionally, federal loan forgiveness programs are also available to borrowers nationwide.

Many student loan forgiveness programs exist, depending on the loan type and specific borrower requirements.

There are two primary categories of loans eligible for forgiveness:

1. Federal Loans: The U.S. Department of Education provides federal loans, which generally have lower interest rates and more flexible repayment options than private loans. Borrowers in New York and other states can qualify for programs like Teacher Loan Forgiveness, Public Service Loan Forgiveness (PSLF), Income-Driven Repayment (IDR) Plans, and Military Service Loan Forgiveness Programs.

2. Private Loans: While private loans aren’t eligible for the Education Department’s loan forgiveness programs, they may qualify for some forgiveness opportunities offered by the department.

Each program features unique eligibility criteria and forgiveness terms. Always review the specific requirements to determine if you’re eligible for a particular loan forgiveness program.

New York State provides various student loan forgiveness programs aimed at helping residents manage their student loan debt while working in high-need fields, critical professions, or underserved communities.

We have categorized and grouped these programs to make it easier for you to find the one that best fits your career or eligibility criteria.

Keep reading to learn more about these programs and their specific benefits.

Legal Professionals

District Attorney and Indigent Legal Services Attorney Loan Forgiveness Program

This program offers loan forgiveness to eligible attorneys who have worked in their positions for at least four years in New York State.

Eligibility requirements include:

• Being a legal resident of New York State.

• Having an outstanding balance on an eligible student loan debt.

• Not being in default on any student loans.

Program Details: DA and Indigent Legal Services Attorney Loan Forgiveness Program

Albany Law School Loan Repayment Assistance Program

This program offers up to $10,000 per year for three years to Albany Law School graduates pursuing careers in public interest law.

Eligibility requirements include:

• Securing full-time employment in a qualified public interest law-related position.

• Having a principal law school loan balance of at least $50,000.

• Not being in default on any educational loans.

Program Details: Albany Law School Loan Repayment Assistance Program

Healthcare Professionals

Nursing Faculty Loan Forgiveness Incentive Program

This program offers up to $40,000 in loan forgiveness to licensed registered nurses holding graduate degrees who have taught in the field of nursing in New York State.

Eligibility requirements include:

• Being a legal resident of New York State for at least one year.

• Being a U.S. citizen or eligible noncitizen.

• Having prior clinical experience as a licensed registered nurse.

• Having an outstanding balance on an eligible student loan debt.

Program Details: Nursing Faculty Loan Forgiveness Program

Regents Physician Loan Forgiveness Award Program

This program offers up to $10,000 per year for two years to physicians practicing in New York State, designated as having a shortage of physicians, emphasizing primary care.

Eligible applicants must be licensed to practice medicine in New York State, have completed a professional residency program within the five years immediately preceding the period for which the first award would be granted, and be residents of New York State.

Program Details: Regents Physician Loan Forgiveness Award Program

Physician Loan Repayment – Qualified Educational Loan Repayment

This program provides up to $120,000 in funding for physicians who commit to a three-year service obligation in an underserved region.

Eligibility requirements include being a U.S. citizen or permanent resident alien, being licensed to practice in New York State, and not currently working in an underserved area in New York State, where the current service began before July 1, 2010.

Program Details: Physician Loan Repayment Program

Social Workers

NYS Licensed Social Worker Loan Forgiveness Program

This program offers up to $26,000 in loan forgiveness to licensed social workers working in critical human service areas.

To qualify, applicants must be legal residents of New York State for at least one year, be U.S. citizens or eligible noncitizens, have an outstanding balance on an eligible student loan debt, and not be in default on any student loans.

Program Details: NYS Licensed Social Worker Loan Forgiveness Program

Education Professionals

New York State Teacher Loan Forgiveness Program

This program offers up to $20,000 in loan forgiveness to attract and retain teachers serving in hard-to-staff districts or teaching in subject-shortage areas in New York State.

Recipients can receive awards up to $5,000 per year for up to four years, not to exceed the total amount of the recipient’s student loan debt.

Eligibility requirements include being a New York State resident for at least 12 months before applying and being a certified teacher in New York State.

Program Details: New York State Teacher Loan Forgiveness Program

New York City Loan Forgiveness Program

This program offers student loan repayment for New York State-certified classroom teachers and school-based pedagogic clinicians working in specified shortage areas and bilingual education. Applicants must complete 6 years of service in an NYC public school within an assigned shortage area.

Eligibility requirements include possessing an appropriate New York State initial or provisional certificate corresponding to a shortage area and proof of U.S. citizenship or permanent residency.

Program Details: New York City Loan Forgiveness Program

Agriculture Professionals

The New York State Young Farmers Loan Forgiveness Incentive Program

This program offers up to $50,000 in loan forgiveness to recent college graduates pursuing farming careers in New York State.

To qualify, applicants must be legal residents of New York State, be U.S. citizens or eligible noncitizens, obtain an undergraduate degree from an approved NYS college or university, and agree to operate a farm in New York State on a full-time basis for five years.

Program Details: New York State Young Farmers Loan Forgiveness Incentive Program

Child Welfare Professionals

NYS Child Welfare Worker Loan Forgiveness Incentive Program

This program offers up to $50,000 in loan forgiveness to individuals who provide direct care services at a New York State-licensed child welfare agency.

Recipients can receive up to $10,000 per year for up to 5 years, or the actual amount of the recipient’s student loan debt, whichever is less.

Eligibility requirements include being a New York State resident for at least 12 months before applying and having received an undergraduate degree from a New York State college or university.

Program Details: NYS Child Welfare Worker Loan Forgiveness Incentive Program

Recent College Graduates

NYS Get On Your Feet Loan Forgiveness Program

This program provides up to 24 months of federal student loan debt relief to recent NYS college graduates participating in a federal income-driven repayment plan with payments capped at 10% of their discretionary income.

Eligibility criteria include graduating from a New York State high school, college, or university and applying within two years of graduation.

Program Details: NYS Get On Your Feet Loan Forgiveness

1. President Joe Biden’s Nationwide Forgiveness Program

Eligibility criteria:

• Income limits: Individuals with an annual income during the pandemic under $125,000 or married couples/heads of households with an income under $250,000 may be eligible for (1) Up to $20,000 in federal student loan cancellation for Pell Grant recipients; or (2) Up to $10,000 in federal student loan cancellation if they did not receive a Pell Grant.

• Qualifying time period: Forgiveness applies only to loans taken before July 2022.

• Loan types: Only federally held student loans are eligible. This excludes some Federal Family Education Loans (FFEL) and most Perkins loans.

Forgiveness amounts and application process:

• If Biden’s plan survives legal challenges, eligible borrowers can submit an application via the Federal Student Aid website.

• Forgiveness is automatic for many borrowers, requiring only basic personal information.

• Borrowers can request a refund for any payments made on federally held student loans during the payment pause (starting March 13, 2020), ensuring they receive the full $10,000 or $20,000 refund without penalty.

2. Income-Driven Repayment Account Adjustment

Eligibility criteria:

• Starting in spring 2023, borrowers who have been paying their federal student loans for 20 years or longer will see their remaining debt discharged under the IDR Waiver.

• Millions more will move significantly closer to forgiveness when their accounts are updated in 2024.

Forgiveness amounts and duration:

• The IDR account adjustment allows every month spent in student loan repayment or on pause — regardless of whether any student loan payments were made — since leaving school to count toward forgiveness, applied one time only.

• About 40,000 borrowers with older loans will see their balances wiped clean starting in spring 2023, and over 3.6 million borrowers are expected to receive at least three years of more credit toward IDR forgiveness.

3. Public Service Loan Forgiveness Program (PSLF)

Eligibility criteria:

• Work full-time for a qualifying public service organization, such as the federal government, a non-profit organization, or a state university like the University of Alabama.

• Make 120 qualifying payments under a qualifying repayment plan. Payments do not have to be consecutive but must be made on time.

Forgiveness amounts and duration:

• After making 120 qualifying monthly payments, borrowers can apply for PSLF to have the remaining balance of their Direct Loans, including Parent PLUS Loans, forgiven.

• The forgiven amount is not considered taxable income.

4. Teacher Loan Forgiveness Program

Eligibility criteria:

• Teachers must work full-time for five consecutive academic years in a low-income school or educational service agency.

• Must have taken out their federal Direct or Stafford Loans after October 1, 1998.

Forgiveness amounts and duration:

• Highly qualified math and science teachers in secondary schools and special education teachers can receive up to $17,500 in loan forgiveness.

• Other eligible teachers may receive up to $5,000.

• Forgiveness is granted after completing the required five consecutive years of teaching service.

5. Military Service Loan Forgiveness Programs

Eligibility criteria:

• Various programs are available for eligible military service members, including the Army Loan Repayment Program (ALRP), the Navy Loan Repayment Program (NLRP), and the National Guard Loan Repayment Program (NGLRP).

• Each military student loan forgiveness program has its own eligibility criteria, such as the length of service, loan type, and qualifying military occupation.

Forgiveness amounts and duration:

• The forgiveness amounts and duration varies by program and branch of service.

• For example, the Army and Navy Loan Repayment Programs offer up to $65,000 in loan repayment assistance, while the National Guard Loan Repayment Program provides up to $50,000.

• These benefits are usually disbursed yearly over a specified period, depending on the service member’s commitment to the military branch.

Loan Consolidation Overview:

• Loan consolidation involves combining multiple federal student loans into a single Direct Consolidation Loan.

• This simplifies loan management by having a single monthly payment and can lower monthly payments by extending the repayment term.

Benefits and considerations:

• Access to more repayment plans and forgiveness programs.

• Simplified loan management with a single monthly payment.

• Potential for lower monthly payments.

• Extending the repayment term might result in paying more interest over the life of the loan.

Loan Refinancing Overview:

• Loan refinancing involves obtaining a new loan with a private lender to pay off existing federal or private student loans.

• The goal is to secure a lower interest rate or adjust repayment terms, potentially reducing the overall cost of the loan.

• Use an online marketplace like Credible to shop with multiple lenders simultaneously without a hard credit check.

Benefits and considerations:

• Significant savings in interest payments over time.

• Reduced monthly payment amount.

• Loss of access to federal benefits, including income-driven repayment plans, loan forgiveness programs, and deferment or forbearance options.

• Important to evaluate the benefits of refinancing against potentially losing federal protections.

Income-Based Repayment Plans Overview:

• Income-based repayment plans, such as Income-Based Repayment (IBR), Pay As You Earn (PAYE), Revised Pay As You Earn (REPAYE), and Income-Contingent Repayment (ICR), adjust monthly payments based on the borrower’s income and family size.

• These plans can provide relief for borrowers experiencing financial hardship.

Benefits and considerations:

• Significantly lower monthly payments, providing financial flexibility for borrowers.

• Forgiveness of remaining loan balance after 20 or 25 years of payments (depending on the specific plan and when the borrower took out their loans).

• Forgiven amounts may be considered taxable income.

• May result in paying more interest over the life of the loan due to the extended repayment period.

Navigating student loan forgiveness programs and alternatives can feel overwhelming, but having clear guidance and easy-to-follow steps can make a significant difference in managing your student loan debt.

We’d love to hear about your experiences with student loan forgiveness programs and any tips you might have for fellow borrowers.

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