College graduates who are pursuing careers in agriculture are in line for expanded student debt relief under a new state law.
Governor Kathy Hochul signed the law that addresses eligibility for the New York State Young Farmers Loan Forgiveness Incentive Program. Previously, being able to apply for funds required an applicant to have graduated from college within the previous two years.
The new law removes that eligibility requirement, replacing it with a qualification that an applicant must not have previously farmed for more than 10 consecutive years.
The move is meant to make more people eligible for a program that provides grant awards for students who have received an undergraduate degree from a New York state college or university.
The agriculture industry in New York has struggled to retain young people. As a result, the number of family run farms have been reduced and many sold off to other businesses.
The link for more information can be found at:
https://www.hesc.ny.gov/pay-for-college/financial-aid/types-of-financial-aid/nys-grants-scholarships-awards/new-york-state-young-farmers-loan-forgiveness-incentive-program.html
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