NY launches new student loan forgiveness program

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ALBANY, N.Y. (AP) — New York state is now accepting applications for a new student loan forgiveness program from recent graduates struggling with education debt.

The program, called the “Get on Your Feet” initiative, offers up to two years of payments on a student loan.

To be eligible, students must have earned an undergraduate degree from a college in New York state in December 2014 or later and must have an adjusted gross income of less than $50,000. They must also be participating in a federal income-based repayment plan or a pay-as-you-earn plan. Applicants must live within the state.

The state says more than 2,500 people from the class of 2015 have signed up to apply for the program.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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