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A Plan to Pay Off Part of Student Loan DebtJun 15, 2012
ABC News – In a move designed to spur the economy, small cities and rural areas are offering to pay off student loans (or portions thereof) for recent graduates who move to their towns. Officials hope the new graduates can rebuild struggling areas. A similar federal plan was implemented decades ago for doctors and current plans are of interest to medical professionals today. Niagara Falls, NY, is offering payments up to $3,500 dollars to 2013 graduates, or roughly 12% of the average graduate’s student loan debt. Many of the cities have troubled downtown areas and see little economic growth. It is hoped that the recent graduates can bring ideas, energy and an entrepreneurial spirit to these areas. For more, read Student Loans: Cities Offering to Pay Debt to Gain Young Residents.