what city pays off your student loans

Move Here And They’ll Pay Off Your Student Loans

what city pays off your student loans

What’s a great way to get a young, thriving community to pop up in your town and revitalize an area? A little gentle monetary incentive, in the form of offers to pay off student loan debt for young residents moving into the town.

Niagara Falls, N.Y. is just one such town trying to entice fresh-faced professionals to move in by paying off part of their debts.


In Niagara Falls, the campaign is being spearheaded by the new director of community development. Communities like his are concerned over shrinking, increasingly older populations, and are willing to try just about anything to get those happening kids to move to town.

“We’ve lost a lot of talent, a lot of brain power,” he says. “For 50 years we’ve been asking ourselves: how do we keep our young people?” The city’s population 50 years ago was 100,000 and it has now fallen to 50,000, causing its leaders to worry about losing certain forms of federal assistance.

The city is putting an initial $200,000 behind the idea. The first applications should arrive in the next couple of months, says Piccirillo, but

“The graduating class of 2013 will be our first real swing at it.”

He came up with the idea by reading news headlines about how worrisome college debt is, and figured that young professionals is “the key to a modern economy.”

Dangle the carrot of debt relief, and voila! New, young residents.

Under the plan, you must have earned a 2- or 4-year degree in the past two years, and can apply for up to $3,500 a year for two years toward repayment of student loans. Graduate students can also apply. Applicants will then have to rent or buy a home within a designated student area.

“We’re not talking city-wide. We’re taking acres,” he explains. “There’s no doubt in my mind that getting even 100 to 150 people could revitalize the neighborhood.”

Other Pied Pipers Of Students

Niagara Falls isn’t alone in this kind of venture: Over yonder in Kansas, 50 counties in the state are trying something similar with the Rural Opportunity Zones (ROZs) that offer new full-time residents either income tax waivers for up to five years and or/student loan repayments of up to $15,000.

The manager of that program says he’s received 338 applicants to date, 111 of which have been people from out of state. He’s now getting applications at the rate of one a day.

“Our hope was that we’d get young professionals to move,” he says. “Physicians, nurses, lawyers, accountants. And that’s what we have seen—health professionals, teachers, veterinarians, accountants and a surprising number of lawyers.

Our hope in the beginning was to attract individuals who would have a disproportionate economic impact on a region.”


Would you move here for the student loan payoff incentive?

like 300x52 Dating In College Vs. Dating As A Post Grad

Written by Mary Beth Quirk via The Consumerist

Posted and Remixed by Maximillian Garland | Bright Futura Columnist

Remember to follow Bright Futura on FacebookTwitter, or you can subscribe to our RSS feed.


12 Comments on “Move Here And They’ll Pay Off Your Student Loans

  1. People from around the world stop by to enjoy this situation divine

    show. Today everyone has seen at least one of the movements of the Four Seasons.

  2. Education is very important for everyone and writing skills are also very important. It creates a difference between educated and uneducated peoples. Essay writing services are available for your help to improve your writing skills.

  3. You are out of our digital lives become a significant part – the newspapers on the Internet. Strictly speaking, there are actually no newspapers, there is usually not the complete images of the print editions of the same name will be put online, but only certain excerpts from you. So the reader is given in the electronic edition of his local or national newspaper just a taste of the corresponding print copy.Both variants are thus not in competition with each other or even join in, but form a quite useful complement each other.

  4. For what reason is there a need to recognize what shapes a shocking on the web diary? All together for a blogger to see what are the central issues anticipated that would make a superb and instructive weblog.

  5. A considerable measure of online journals I see nowadays don’t plainly offer whatever that I am keen on, notwithstanding, I’m undoubtedly intrigued by this one. just thought that I may submit and can enable you to get it. Your article has demonstrated your diligent work and appreciates you have around there.

  6. Such a lot of purposes of intrigue the degree that the Widespread Form Wrap is concerned. I extremely like your mail and I am sitting tight for your next thing and expecting some really unimaginable data open there. Thankful to you such an extraordinary sum for your incredible data sharing.

  7. Hmmm, is there something wrong with the images on this blog? At the end of the day, I try to figure out if this is a problem or a blog.
    Any answers will be greatly appreciated.

  8. Very interesting, you are a very professional blogger.
    I joined your RSS feed and am still looking for more interesting articles. I also share your website on my social networks.

  9. It’s a big relief for students that their all loans will be paid by that city. So you must go there and start your study because it will be easy for you to study there no student loan this will be amazing if I get a chance to study I will definitely go there.

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>