Bill > A08372

This bill establishes the New York State Veteran Student Loan Forgiveness Program, which provides financial relief to veterans by offering up to $10,000 per year in student loan forgiveness for up to five years. To be eligible, applicants must be veterans who have been honorably discharged, graduated from a New York state college or university, be currently employed full-time in New York, agree to reside in the state for at least five years, and not have received federal student loan forgiveness. The program will prioritize previous award recipients and applicants with economic need or a disability rating of 40% or higher from the Veterans Affairs or Department of Defense. The corporation administering the program will grant awards based on appropriated funds and availability, with no individual receiving more than $50,000 total over the five-year period. The program aims to alleviate student loan debt for veterans and will be implemented through rules and regulations developed by the corporation in consultation with the division of military and naval affairs.

Education

https://www.nysenate.gov/legislation/bills/2025/A8372