What New York offers to reduce your student loan payments

New York State runs two main programs that can lower your monthly student loan payments: the Get on Your Feet Loan Forgiveness Program and the NY Higher Education Services Corporation (HESC) Repayment Assistance Plan. The Get on Your Feet program forgives up to $25,000 in federal student loans for recent graduates who are struggling with payments. The HESC plan adjusts your payment amount based on your current income, which can drop your monthly bill significantly if your earnings have fallen or stayed low.

Both programs work with federal loans only — private student loans do not may have access to. You do not need to be a New York resident to use these programs, but you must have borrowed through federal channels and meet income or employment requirements. The programs operate differently: Get on Your Feet is a one-time forgiveness benefit tied to your first year after graduation, while HESC's plan is an ongoing adjustment that recalculates each year as your income changes.

Key Takeaways

  • Get on Your Feet forgives up to $25,000 in federal loans if you graduated within the past two years and meet income limits, but you must request it before your grace period ends.
  • HESC's Repayment Assistance Plan caps your monthly payment at a percentage of your discretionary income, which can reduce payments to $0 if you earn below the poverty line.
  • Both programs require you to submit income documentation and recertify your status periodically to stay enrolled.
  • You can pursue Get on Your Feet forgiveness and an income-based repayment plan at the same time, since they address different loan balances or time periods.

Get on Your Feet Loan Forgiveness: who qualifies and how to request it

The Get on Your Feet program targets recent graduates facing payment hardship. You must have graduated within the past two years, be employed (or self-employed) in New York State, and have a household income below 400% of the federal poverty line. For a single person in 2024, that threshold is roughly $55,000 annually, though the exact figure changes each year. You must also have federal student loans — Direct Loans, Federal Family Education Loans (FFEL), or Perkins Loans all count.

To request forgiveness, contact your loan servicer directly and ask about the Get on Your Feet program. Your servicer is the company that sends you your monthly bill; you can find them by logging into StudentAid.gov or checking your loan documents. The servicer will ask for proof of your graduation date, current employment, and household income. You must request the forgiveness before your grace period ends — typically six months after graduation — so timing matters. Once approved, the program forgives up to $25,000 of your loan balance in a single payment to your servicer.

HESC Repayment Assistance: income-based payment adjustment

The HESC Repayment Assistance Plan works by capping your monthly payment at a percentage of your discretionary income — the amount left after basic living expenses. If your income is very low or you are unemployed, your payment can drop to $0, though you remain enrolled and your loans do not accrue interest during this time. The plan recalculates your payment each year based on your most recent tax return or income documentation, so your bill can go down or up depending on your earnings.

To enroll, you contact HESC directly at 1-888-697-4372 or visit hesc.ny.gov. You will need to provide recent income documentation — typically your most recent tax return, pay stubs, or a letter from your employer stating your current salary. HESC will calculate your new payment amount and notify both you and your loan servicer. Your servicer then adjusts your billing to reflect the new amount. Unlike Get on Your Feet, there is no time limit on HESC enrollment; you can stay in the plan as long as your income remains low enough to may have access to.

Income documentation and annual recertification

Both programs require you to prove your income when you first enroll and again each year to stay active. For Get on Your Feet, you submit this documentation to your loan servicer as part of the forgiveness request. For HESC, you submit it to HESC itself, either by mail, online through their portal, or by phone. Acceptable documents include your most recent federal tax return, W-2 forms, recent pay stubs, or a written statement from your employer on company letterhead.

If you miss your annual recertification deadline, your enrollment may pause or end, and your payment will revert to your standard amount. HESC typically sends reminders before the deadline, but it is your responsibility to respond. If you are self-employed or your income is irregular, keep records of your earnings for the past 12 months so you can document your average income accurately.

How Get on Your Feet and income-based repayment work together

You can use both programs at the same time because they address different parts of your debt. Get on Your Feet forgives a lump sum of your principal balance, reducing the total amount you owe. An income-based plan like HESC then adjusts your payment on the remaining balance. For example, if you have $50,000 in loans and Get on Your Feet forgives $25,000, you still owe $25,000 — but HESC can then lower your monthly payment on that $25,000 based on your income.

The order matters slightly: you typically request Get on Your Feet forgiveness first, since it has a time limit tied to your graduation date. Once that forgiveness is processed and your loan balance is reduced, you can then enroll in HESC or another income-driven repayment plan for any remaining balance. Your loan servicer can walk you through this sequence.

Private loans and other repayment options

New York's state programs cover only federal loans. If you have private student loans, neither Get on Your Feet nor HESC will help. Private lenders set their own repayment terms and do not offer income-based plans as a standard feature. Some private lenders allow you to request a forbearance or deferment if you are facing hardship, but this is handled case-by-case and is not may provide.

If your federal loans are in default or you have both federal and private debt, contact a nonprofit credit counselor through the National Foundation for Credit Counseling (NFCC) or your state's consumer protection office. They can review your full situation and point you toward options specific to your loan types and circumstances.

What happens after forgiveness or payment reduction

If Get on Your Feet forgives your loans, that amount is removed from your balance permanently. You will receive a confirmation letter from your servicer showing the new balance. The forgiven amount is not considered taxable income at the federal level, so you will not owe taxes on it.

If you enroll in HESC's payment plan, your lower payment continues as long as you recertify your income each year and remain enrolled. When your income rises above the program's threshold, you will no longer may have access to, and your payment will return to the standard amount — usually the 10-year standard repayment plan or whatever plan you were on before. If your income drops again later, you can re-enroll.

Frequently Asked Questions

Can I use Get on Your Feet if I graduated more than two years ago?

No. The program is limited to graduates within two years of their graduation date. If you are past that window, focus on HESC's Repayment Assistance Plan or federal income-driven repayment plans through your loan servicer, which have no time limit.

What if my income is above 400% of the poverty line but I still cannot afford my payments?

You do not may have access to for Get on Your Feet, but you may still may have access to for federal income-driven repayment plans through your servicer, which have higher income thresholds. You can also contact HESC to ask about other assistance options or hardship programs they may offer outside the standard plan.

Do I have to be a New York resident to use these programs?

No. Get on Your Feet requires you to be employed in New York State, but you can live anywhere. HESC's Repayment Assistance Plan has no residency requirement at all — it is available to anyone with federal student loans, regardless of where they live.

What if my loan servicer says they do not know about Get on Your Feet?

Ask to speak with a supervisor or request the information in writing. The program is administered by HESC, so you can also contact HESC directly at 1-888-697-4372 to confirm your servicer's obligations and get guidance on how to proceed.

Will using these programs hurt my credit score?

No. Forgiveness and income-based repayment do not damage your credit. In fact, staying current on a reduced payment through HESC can help your credit by keeping your account in good standing.