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New York Community Offers to Pay a Portion of Students' Loans



By Catherine Groux
Posted June 19, 2012 12:42 PM

A New York city will pay off some of students' loans if they move to certain areas.
A New York city will pay off some of students' loans if they move to certain areas.
Many bachelor's degree seekers think about how college can affect them, but few consider how their schools affect the surrounding community. However, according to a research paper by California's Claremont Graduate University, colleges and their large student populations can be extremely valuable when it comes to sparking a city's economy.

"They are immobile institutions fairly resistant to business cycle fluctuations, making them a steady presence in the community," the report states.

One city that is showing just how much it values it surrounding colleges and their students is Niagara Falls, New York. According to Buffalo News, Mayor Paul A. Dyster recently announced that beginning this year, the city will give young individuals up to $3,500 per year for two years to cover their student loan payments if they move to certain neighborhoods in the city.

In order to be eligible, students must have earned an associate's degree or a bachelor's degree within the past two years. Individuals who are currently enrolled in graduate school may also be allowed to participate in the program.

Niagara Falls is surrounded by various colleges - including Niagara University, Canisius College and Niagara County Community College - which means many local students could take advantage of this unique offer after graduation.

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