If you work in these professions, you are in luck – You may qualify for student loan debt forgiveness

With federal Student Loan Forgiveness hardly making headway, states have begun to step in to help some of the most needed professionals get rid of that load. This is especially significant in places with high cost of living that require specific professions such as teachers or medical personnel but are being turned away due to poor salaries and high expenses.

One of these states is New York, which, according to the New York State Higher Education Services Corporation (HESC), is willing to help certain of its employees repay student loans. To be eligible for these repayments, you must be a United States citizen and a resident of New York. The deal may not be as sweet as some may believe, as some taxes may be due on this payback, which in some situations may be considered income.

Student Loan Forgiveness New York

For now, the program is only available to some fields:

Licensed social workers

Applications for this program will be accepted beginning July 2025 and it will help licensed social workers working in critical human service areas in the state. Some of the requirements are:

• Be a social worker professionally licensed to practice in New York state and have worked full-time as a licensed social worker in a critical human service area for at least 35 hours per week during the calendar year prior to your application
• Have an outstanding balance on an eligible student loan debt

This program will not repay all of the debt; the maximum award is $26,000, but if the remaining loan amount is less, only the loan will be reimbursed. The payment will not be made in one lump sum, but rather over four years in increments of $6,500 for each annual term of qualified service performed until the debt is paid or the maximum amount is achieved.

Nursing faculty members

Applications for this program will be accepted beginning November 2024 and some of the qualifications include:

• Being a registered nurse licensed to practice in New York state or nursing faculty or adjunct clinical faculty or those employed at a nursing school located in New York
• Being a state resident for 12 continuous months prior to application

The maximum amount the state will repay is $40,000, paid in $8,000 annual installments over five years or until the eligible student loan is repaid.

District attorneys and indigent legal services attorneys

Applications for this program will be taken beginning in July 2025 from persons who have served full-time as a district attorney, assistant district attorney, or indigent legal services attorney in New York state for four to nine years. The maximum reward is $20,400, which will be paid out yearly in $3,400 increments over a maximum of six years until the loan is repaid or the maximum amount is reached.

Child welfare workers

Applications for this program will be taken beginning in November 2024 from persons who agree to offer direct care services at a New York state-licensed child welfare agency for a minimum of five years and have lived in the state for at least 12 months previous to applying.

Those who are eligible must have graduated from a state college or university within the last two years. The maximum compensation is $50,000 over a five-year period in $10,000 payments, or until the debt is settled.

Teachers

Beginning in January 2025, applications for this program will be accepted from teachers in hard-to-staff districts or in topic shortage areas across the state. To qualify, they must be a certified teacher in New York state, employed full-time in an elementary or secondary school in the state, and a state resident for 12 consecutive months prior to the application.

The maximum amount given is $20,000, which will be paid over four years at $5,000 per year until the maximum amount is met or the debt is paid.

Farmers

Applications for this program will be taken beginning in November 2024 for recent college graduates seeking a career in farming in New York state. Applicants must have an undergraduate degree from an accredited state college or university and be in their first ten years of managing a full-time farm in New York state that produces an agricultural commodity. They must also pledge to run a farm in New York state full-time for at least five years.

The maximum compensation is $50,000 over a five-year period in $10,000 payments, or until the debt is settled.

Also See:- Child Tax Credit: how it works and what requirements you need to meet