New York City has expanded its partnership with Summer, a student loan assistance company, to provide debt reduction and college savings assistance to New Yorkers. This program builds upon the city’s existing initiative that has already helped wipe out an estimated $360 million in student loan debt for 100,000 public servants.
Reference MEA’s detailed article on the Federal Public Service Loan Forgiveness Program from May 2025.
The expanded program is now available to approximately 1.4 million New Yorkers with student loan debt and 1.6 million parents and guardians of college-bound children. According to the official program website, eligible New Yorkers can reduce their annual student loan payments by an average of $3,000 per year.
The program provides free access to Summer’s online portal where residents can verify eligibility for payment reduction programs, compare repayment options, manage enrollment paperwork for federal programs, and track progress toward loan forgiveness eligibility. Additionally, the program’s college planning component helps families navigate higher education expenses and can potentially save up to $10,000 per child on total education costs, according to the official announcement. These resources supplement existing city programs such as NYC Kids Rise, which assists New York City Public School students in saving for college.
Services available through the partnership include:
- Digital enrollment support for income-driven repayment plans and loan forgiveness programs
- Specialized services for residents currently in default or forbearance status
- Support for residents with private student loans
- College planning tools
- Access to trained experts for one-on-one counseling
For complete information, visit the Mayor’s Office’s official announcement and official website of the program.
