NEW YORK (PIX11) – New York City is launching a new program to help get nearly $360 million in student loan debt eliminated for qualifying city workers, Mayor Eric Adams said Thursday.
The mayor said the city will partner with a private-sector firm to enroll qualifying city workers in the federal government’s Public Service Loan Forgiveness program and help eliminate nearly $360 million in student loan debt for 100,000 city employees.
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City workers will also be able to extend invitations to family members who independently qualify for the federal government’s Public Service Loan Forgiveness program to use the city’s service to help get their student loan debt forgiven.
“Our city’s financial counselors have already helped more than 25,000 New Yorkers reduce their debt by over $37 million, but one in four New Yorkers are still saddled with student loan debt, including many of our public servants; that is why we are launching a new program to help public servants enroll in the federal government’s Public Service Loan Forgiveness program,” Adams said…