National Debt Relief Shares How New York Is Helping Address Student Loan Debt

January 27, 2015 (PRLEAP.COM) Business News
January 27, 2015 - National Debt Relief shared in a recent article published January 24, 2015 how student loan borrowers could benefit from what the state of New York is doing to help those in debt. The article titled "Struggling With Student Loan Debt? Maybe You Should Move To New York" explains just how the borrowers can benefit from programs aimed to help fight off student loan debt.

The article starts off by explaining the effects of student loans in the lives of the borrowers. There are those that are having to make do with a paycheck to paycheck budget only because of their high student loan payments. This situation can crush any dreams of getting a mortgage loan, an auto loan or even getting married.

The article also points out how borrowers who are in repayment for high student loan debt are forced to choose high paying corporate jobs rather than in the public sector or even in non-profit organizations helping out others. This is because the payment amount can only be covered by private high paying jobs.

The formation of small businesses can also be affected by student loans because of two things. One is that the most start up businesses require capital expense at the start of the business. With most of the money going to student loan repayment, there is not much funds to save up. The other is the volatile nature of any business undertaking and that the money may or may not come which can really put payments on hold if things start going south.

This is where the article comes in and introduces what the state of New York is doing. Student loan borrowers who are indigent legal service lawyers or attorneys can enjoy rewards designed to retain them. Licensed social workers can also earn an award if they have a minimum of one year of employment in a critical area of human services. Even the The New York State Young Farmers Loan Forgiveness Incentive Program aims to inspire college students to become farmers in the state of New York. It provides awards for loan forgiveness to anyone who obtains an undergraduate degree from a New York state university or college and agrees to farm in the state of New York for five years on a full-time basis.

To read the full article, click this link:

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