Personal Finance

New York State residents to get another 30-day break on medical, student loan debt

Key Points
  • New York State residents who owe medical or student loan debt to the state that is in collection now have until June 16 before they have to make payments.
  • During that time, interest or fees will not accrue on those debts.
  • In addition, individuals who owe other debts to the state can also apply for a reprieve.
A cyclist passes a boarded up store during the coronavirus pandemic on April 28, 2020 in New York City.
John Lamparski | Getty Images

New Yorkers who owe the state medical or student debt that has been referred to the state attorney general's office for collection have been given another 30-day break from paying those balances.

New York Attorney General Letitia James and Governor Andrew Cuomo jointly announced the extension on Friday.

The suspension will last through June 16. Fees and interest on those debts will not be charged during the 30-day period. After that, the state attorney general plans to assess whether another 30-day extension is needed.

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The payment freeze may also apply to other debts owed to the state. The state attorney general is accepting applications for suspension of other debts that fall in that category that have been referred to its office for collection. Individuals who would like to apply for that temporary relief can fill out an application online.

The move comes as more than 2 million residents of New York State have filed for unemployment in the past two months.

"This pandemic has taken a serious financial and emotional toll on our state, and the last thing working people need to do right now is worry about managing their debt," James said in a statement.

This is a developing story. Please check back for updates.

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