These Cities Will Pay Off Your Student Debt

By Personal FinanceFOXBusiness

To attract millennial talent, some cities are offering to help out with student loan debt. A number of cities across the country have rolled out student loan debt relief plans for recent graduates.

Continue Reading Below

Stephen Dash, the founder of Credible, a multi-lender marketplace for student loans, tells that each program is designed to meet the goals of an individual city or state.

He also noted that many programs are to attract talent in highly specialized fields like engineering to more rural areas.

1. Detroit, MI

Detroit offers home buyers and renters assistance for indivudals who work at select companies. New homeowners can receive up to $20,000 in forgivable loans toward purchasing a primary residence.

New renters can earn $2,500 in funding in their first year combined with an extra $1,000 in their second year.

2. Chattanooga, TN

Some neighborhoods in Chattanooga, TN will offer $11,250 in relocation benefits, including $1,250 for reloaction expenses and $10,000 for a forgivable second mortgage.

The benefits are open to those with technical skills like software developers and system administrators. But the program is only available to 10 lucky recipients.

3. Kansas

Seventy-seven counties in rural Kansas will offer income tax waivers for up to five years and/or student loan repayment of up to $15,000. Those who are new, full time residents of the state are eligible for the program if they have an associates, bachelor's or post-graduate degree, have a student loan balance and if they take up residency in one of the 77 counties.