City Of Niagara Falls Downtown Housing Incentive Program (New York)
The City of Niagara Falls will help applicants pay their student loans. In return, applicants will reside in a targeted neighborhood in Niagara Falls for two years. This is a reimbursement program. The City of Niagara Falls will reimburse the applicant for his annual student loan payment amount, up to but not exceeding, $3,492 a year and up to $6,984 during the full two-year term of the agreement. This reimbursement will be made directly to the applicant during his annual certification with the City. The applicant will be required to show proof of good standing with the loaning agency, and proof of good standing with either his landlord or mortgage agency. In turn, the applicant is required to maintain residency, in compliance with program standards, in the target area for the two-year term of the agreement.
- Graduated from an accredited institute for higher education with a two-year technical degree within 24 months of application.
- Graduated from an accredited institute for higher education with a bachelor’s degree (or greater) within 36 months of application.
- Are enrolled in an accredited institute for higher education to pursue a post-graduate degree at the time of application.
Downtown Niagara Falls neighborhood made up of a commercial district with mixed-use apartment buildings, single family homes, multi-unit homes, and the Park Place Historic District. The target area is within walking distance to Niagara Falls State Park and the Niagara Gorge.
Loans That Qualify
- Stafford loans
- Grad PLUS loans
- Perkins loans
- Consolidation loans
- Private loans
- State loans
- Institutional loans
You can find more information about qualification for the program here.