Want your student loans paid? Move to Niagara Falls
For recent college graduates, paying student loans can be a struggle.
But what if you could get yours paid for you just for moving to a certain city?
City will pay residents’ student loans for 2 years
Niagara Falls, NY is trying to attract young residents by doing just that. The city will pay off $7,000 of a borrower’s student loans if they live in a designated area of the city for two years.
While these sorts of programs aren’t very common, Niagara Falls isn’t the only city with an innovative plan for incentivizing young people to live in the area by repaying their student loans. Several cities in Kansas have similar programs, according to Fusion.
Although it sounds too good to be true, there is a caveat: the city of Niagara Falls has few job opportunities, according to residents.
And the five participants in the program say they wouldn’t be living there if it weren’t for the student loan benefits.
Still, for borrowers who can find a job in the area, the program offers a great chance to pay down their debt and avoid defaulting on their student loans.
Help repaying student loans
We hope to see more cities offering similar programs and incentives to encourage young adults struggling with student debt to move to the area.
In the grand scheme of things, two years is nothing. And the more young people who participate, the more things will develop in these cities and make them that much more attractive to young people.
If you’re struggling to repay your student loans or feeling overwhelmed by your debt, we can help you get on the best repayment plan for your situation. Give us a call at 1-888-234-3907 or contact us using this form.