NYS Young Farmers Loan Forgiveness Incentive Program

Application Information

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Amount
Awarded

$50,000

Awarded
Awarded By:

New York State Higher Education Services Corporation

Number of Awards & Eligibility: Up to ten awards are granted each year.
In order to qualify, students must meet the following criteria:
  1. Must be a NYS resident and have resided in NYS for 12 continuous months prior to applying for this Program.
  2. Must be a U.S. citizen or eligible non-citizen.
  3. Must get an undergraduate degree from an approved NYS college or university.
  4. Must have an outstanding balance on an eligible student loan debt(s) from obtaining such degree.
  5. Must apply for this Program within two years after college graduation.
  6. Must execute a Service Contract agreeing to operate a farm in NYS on a fulltime basis for at least five years
  7. Must be in a non-default status on a student loan made under any NYS or federal education loan program or repayment of any NYS award.
  8. Must be in compliance with the terms of any service condition imposed by a NYS award.

In order to qualify, students must meet the following criteria:

Description: The NYS Young Farmers Loan Forgiveness Incentive Program is available for NYS residents who have an outstanding balance on an eligible student loan debt(s) from obtaining such degree. To be eligible, applicants must own and operate a farm in the state of New York for a minimum of five years.

Application requirements for the NYS Young Farmers Loan Forgiveness Incentive Program are:

  • Application form.
Additional Information: The NYS Young Farmers Loan Forgiveness Incentive Program is offered to encourage recent college graduates to pursue careers in farming in NYS. This Program provides loan forgiveness awards to individuals who obtain an undergraduate degree from an approved NYS college or university and agree to operate a farm in NYS, on a full-time basis, for five years.

Award Amount: The maximum lifetime award under this Program is $50,000, or the applicant’s actual eligible student loan indebtedness at the time eligibility is established, whichever is less. Awards will be paid in annual disbursements up to $10,000, or the remaining loan indebtedness. Any additional payments made to reduce the outstanding balance may cause a reduction in the total amount of the award.  The total dollars awarded for this scholarship is $50,000.

Contact: NYS Young Farmers Loan Forgiveness Incentive Program
Address: - -, -- Not Applicable -- -

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