Establishes a loan forgiveness incentive program for New York residents with student loan debt who work for small businesses in the state.

The bill creates a loan forgiveness incentive program for New York residents who have student loan debt and agree to work for a small business in the state. Eligible applicants must have graduated from an institution of higher education and have an annual salary of $50,000 or less. Awards are made annually for up to ten years, with 10% of the total award given each year. The total award amount cannot exceed $12,500. Recipients can apply for other awards established under this chapter.

Establishes a loan forgiveness incentive program for New York residents with student loan debt who work for small businesses in the state.

The bill creates a loan forgiveness incentive program for New York residents who have student loan debt and agree to work for a small business in the state. Eligible applicants must have graduated from an institution of higher education and have an annual salary of $50,000 or less. Awards are made annually for up to ten years, with 10% of the total award given each year. The total award amount cannot exceed $12,500. Recipients can apply for other awards established under this chapter.