11 New York Student Loan Forgiveness Options

It's every college graduate's dream — that one day, their student debt can be cancelled.

For some borrowers, this dream can become a reality through programs like Public Service Loan Forgiveness and other career-specific loan forgiveness programs. But the requirements for these programs aren't always the easiest to meet. Thankfully, New York state has many options that may just cancel out your debt. 

If you're a New York resident, one of these programs may work for you. 

1. New York State Young Farmers Loan Forgiveness Incentive Program

If you're a recent graduate who wants to pursue farming in New York state, this one's for you.

This program offers a maximum of $50,000 in loan forgiveness if you  commit to operating or working at a farm full-time for five years (up to $10,000 per year). To be eligible, applicants must have obtained an undergrad degree from an approved New York state school. 

Apply here.

2. NYS Child Welfare Worker Loan Forgiveness Program

This program awards student loan forgiveness in order to attract workers to the state's child welfare agencies.

The award is for up to $10,000 per year, and can be renewed as many as five years. This program covers both undergraduate and graduate school loans, but applicants must apply within two years of graduation.

Apply here. 

3. Loan Forgiveness for District Attorneys and Indigent Legal Services Attorneys

Loan forgiveness is available if you work in legal services in the state.

The forgiveness award is $20,400 or eligible student loan debt, whichever is less. Awards are paid through annual amounts of $3,400.

Applicants must have worked full-time in one of these positions for at least four years, but for no more than nine years (including the year prior to application):

• District Attorney
• Assistant District Attorney 
• Indigent Legal Services Attorney

Apply here.

4. Loan Forgiveness for Licensed Social Workers

For social workers licensed and practicing in New York state, this program offers relief for people working in the following fields: 

• Home care
• Health
• Mental health
• Substance abuse
• Aging
• HIV/AIDS
• Child welfare, and
• Communities with multilingual needs.

Applicants must have at least one year of prior employment in the field. The award amount is for up to $26,000 or the applicant's eligible student loan indebtedness. This amount is distributed annually. 

Apply here.

5. Nursing Faculty Loan Forgiveness Incentive Program

This program gives New Yorkers an incentive to work as nursing faculty members and adjunct clinical faculty teaching in the field of nursing.

If you qualify, you could receive up to $40,000, paid in the amount of $8,000. Only those who are licensed registered nurses holding graduate degrees are eligible. 

Apply here.

6. New York State 'Get on Your Feet' Loan Forgiveness Program

The Get on Your Feet Loan Forgiveness Program allows college graduates to have their federal income-based repayment plan commitment covered for two years. 

Candidates must:

• Have graduated from a New York state institution
• Continue to live in the state after graduation
• Earn less than $50,000 per year
• Participate in either the Pay As You Earn (PAYE), the Income Based Repayment (IBR) program, or the Revised Pay as You Earn (REPAYE) plan, and
• Apply within two years of graduating from college.

Apply here. 

7. Albany Law School Loan Repayment Assistance Program

This program is for people who graduated from Albany Law School in 2015 or later.

It is designed to help alleviate the financial burden of pursuing careers in public interest law. Applicants must work in a public interest law-related position and have a law school loan balance of at least $50,000. The award is for up to $10,000 per year for three years. 

Apply here.

8. Doctors Across New York Physician Loan Repayment

This state-funded initiative aims to train and place physicians in underserved areas.

Physician Loan Repayment offers up to $120,000 for loan repayment over the course of a three-year period for physicians who agree to work in an underserved area for five years.

Physicians working in general internal medicine, family practice, general pediatrics, geriatrics, OB/GYN or adult/child psychiatry are eligible to apply.

Apply here. Application cycles typically begin in the spring.

9. Teach NYC Loan Forgiveness Program

This program is for newly hired, state-certified classroom teachers and school-based pedagogic clinicians who work in specified shortage areas and bilingual education. To receive the award, applicants must commit to working in the shortage area for six consecutive school years. The total financial award, up to $24,000, varies by applicant and is divided over the six years.

Apply here. Applications are available June 30th through November 15th for the upcoming school year.  

10. Steven C. Krane Loan Assistance for the Public Interest Program

For government and public interest attorneys who are burdened by law school debt, up to $4,000 a year is available through this program. 

To be eligible, you must:

• Have earned a J.D. from an American Bar Association-accredited law school
• Be admitted to the New York State Bar
• Practice public interest or government law for at least five five years, and
• Be a member in good standing.

Apply here.

11. New York Army National Guard Student Loan Repayment Program 

If you’re a member of the New York National Guard, you qualify for up to $50,000 of loan repayment assistance. This will be disbursed at an annual amount of $7,500 maximum. There is a six-year enlistment or re-enlistment requirement. 

Apply here.

Other ways to handle your debt

If you don't qualify for these programs but are trying to lower your student loan payments or your interest rate in order to get out of debt, you might be a good candidate for refinancing. Check out our Student Loan Refinancing Calculator to find out how much you could save.