Once you earn a diploma and have completed the courses required to graduate from college, it is one of the best and most rewarding feelings of accomplishment and relief. But soon after, reality sets in and so do student loan bills. OH! There may be some serious upheaval over what the monthly payments are and the mountain of debt you could be looking at. But before you get overwhelmed, there are options.
According to Forbes:
President Biden extended the payment pause several times. Biden’s latest extension is scheduled to end on August 31.
As we wait to see what the federal government will do with student loans in the coming weeks, there are some grants and scholarships for those who need additional assistance to pay off their loans. Specifically if you live in the state of New York.
One of those loan forgiveness The option is called the New York State Get ON Your Feet Program..
The New York State Stand Up Loan Forgiveness Program provides up to 24 months of federal student loan debt relief to recent New York State college graduates who participate in a federal income-based repayment plan. Payments are generally capped at 10 percent of your discretionary income.
There are a variety of requirements for those who want to apply. But if you get this and get approved, it’s a big help and would make a big dent in that loan pile.
-have a primary work location in New York State, if employed;
-have an adjusted gross income of less than $50,000;
-be current on all federal or New York State student loans;
-be current in the payment of any award from the State of New York; Y
-be in compliance with the terms of any condition of service imposed by a New York State award.
The biggest regret I have looking back on my years in college and before college is not applying for more scholarships and grants. There are INFINITE amounts of them, and depending on your family’s situation, you could receive a lot of money. It pays to request as many as possible, and thanks to Google, you can search for dozens.
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