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NY launches new student loan forgiveness program

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ALBANY, N.Y.— New York state is now accepting applications for a new student loan forgiveness program from recent graduates struggling with education debt.

The program, called the “Get on Your Feet” initiative, offers up to two years of payments on a student loan.

To be eligible, students must have earned an undergraduate degree from a college in New York state in December 2014 or later and must have an adjusted gross income of less than $50,000. They must also be participating in a federal income-based repayment plan or a pay-as-you-earn plan. Applicants must live within the state.

The state says more than 2,500 people from the class of 2015 have signed up to apply for the program.