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The Indian Eye
         COMMUNITY OP-ED                                                           AUGUST 22, 2025                                      10


            Helping New Yorkers Save Up to $1 Billion



          with First-in-the-Nation Municipal Student




                  Loan and College Assistance Program




        It will also help families save up to $10,000 per child through college planning resources























                   ERIC ADAMS


                 y  mother  was  a  single  par-
                 ent who worked three jobs
        Mjust  to  make  sure  my  sib-
        lings and I had a roof over our heads
        and food on the table—so I know the
        struggle to live a better life is real.
            A  college  education  can  help
        New  Yorkers  go  far,  but  the  finan-
        cial burden of that education can be
        overwhelming. For far too many New
        Yorkers,  pursuing  a  college  degree
        leads to a lifetime of debt. Many of
        these  New  Yorkers  are  city  employ-        All New Yorkers deserve to live in a city where they and their families can get ahead and thrive (File photo)
        ees, like Shiniqua, who — after pur-
        suing two Master’s degrees, including  major  city  in  the  nation  to  provide   to $10,000 per child through college  Working  Class,”  which  eliminates
        a Master’s in Public Administration   universal  student  loan  and  college   planning resources. Additionally, we  and cuts city personal income taxes
        — was left with $240,000 in debt. That   savings assistance to all our residents.  will help public servants and not-for- for  582,000  New  Yorkers  and  their
        is  an  unimaginable  sum  for  most  This is a major milestone for our city  profit  employees  receive  benefits   dependents, putting $63 million back
        New Yorkers and it shouldn’t be the  and a lifesaver for hard-working New  from the federal government’s Public   into  their  pockets.  These  programs,
        price you have to pay to achieve your  Yorkers like Shiniqua.       Service  Loan  Forgiveness  program,  combined  with  other  federal,  state,
        dreams.                               Our  program  will  help  an  es- which enables debt to be forgiven af- and local programs to which we have
            That is why, earlier this year, our  timated  1.4  million  New  Yorkers   ter 10 years of service and payments.  connected New Yorkers, have helped
        administration announced a partner- manage and pay down their existing   Since  day  one,  our  administra-  put $30 billion back in New Yorkers’
        ship  with  leading  student  loan-for- loans  with  lower  monthly  payments   tion  has  been  focused  on  putting   pockets.
        giveness company, Summer, to help   and  a  pathway  to  debt  forgiveness.  money back into New Yorkers’ pock-  All New Yorkers deserve to live
        wipe out $360 million in student loan  It  will  also  offer  specialized  assis- ets. We are driving down the cost of  in a city where they and their families
        debt for 100,000 hard-working public   tance  for  parents  and  guardians  of  living  and  spearheading  initiatives   can  get  ahead  and  thrive.  Our  city-
        servants. And now, we are proud to   college-bound  children,  helping  1.6  like  the  Earned  Income  Tax  Cred- wide student loan and college saving
        expand this program to all New York  million more New Yorkers. Together,  it to return hundreds of millions of  assistance  program,  along  with  our
        City residents and help working-class   our efforts will help 3 million working  dollars back to qualified low-income   other  Money  in  Your  Pocket  initia-
        New Yorkers keep up to $1 billion in   people keep up to $1 billion in their  New Yorkers, connecting New York- tives, is a crucial step toward building
        their pockets.                    pockets  by  reducing  student  loan   ers  in  public  housing  to  free  high- a more affordable and equitable so-
            Our municipal student loan pay-  payments by an average of $3,000 per  speed internet and basic TV through   ciety  —  one  in  which  working-class
        ment  reduction  and  college  savings   year,  and,  for  those  with  advanced  Big  Apple  Connect,  and  cancelling  New  Yorkers  like  my  mother  don’t
        assistance  program  will  allow  New  degrees, we expect the average pay- $2  billion  in  medical  debt  for  work- have to struggle to get by.
        Yorkers  to  reach  for  the  American   ments  to  be  reduced  by  $7,000  per  ing-class  New  Yorkers.  Additional-
        Dream  without  breaking  the  bank  year.                          ly,  this  year,  we  successfully  called   Eric Adams is the Mayor of
        as New York City becomes the first    It will also help families save up   on  Albany  to  “Axe  the  Tax  for  the   New York City, NY


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