Applications are now being accepted for the New York State Young Farmers Loan Forgiveness Incentive Program, established as part of the 2014-15 New York State Budget as one component of a comprehensive financial strategy to keep the State’s agricultural industry thriving for the next generation. 

This program provides loan forgiveness awards of up to $10,000 in education loan forgiveness annually for up to five years to new and early-stage farmers who obtain an undergraduate degree from an approved New York State college or university and agree to operate a farm in New York State, on a full-time basis, for five years.

The deadline for submission is December 15.

The New York State Young Farmers Loan Forgiveness Program is administered by the New York State Higher Education Services Corporation (HESC).

About HESC: HESC is New York State’s student financial aid agency that helps people pay for college and a national leader in providing need based grant and scholarship award money to college-going students. At HESC’s core are programs like the Tuition Assistance Program (TAP), numerous state scholarships, federal college access grants and a highly successful College Savings program. HESC puts college within the reach of hundreds of thousands of New Yorkers each year through programs like these and through the guidance it provides to students, families and counselors. In 2013-14,  HESC helped more than 388,000 students achieve their college dreams by providing more than $984 million in grants, scholarships and loan forgiveness benefits, including $935.5 million awarded through the Tuition Assistance Program (TAP).