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Niagara Falls Community Development Director Seth Piccirillo on the city’s offer to pay down some of young professionals’ student loan debt in an ...
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Hello and that you might think about -- to Niagara Falls, New York this city is offering to help pay down student loan debt in an effort to lure young professionals.
Septic guerrillas Niagara Falls director of community development.
Kinda -- he joins me now on the phone pretty -- -- how did you ask not what this idea.
They had made what we don't dispute that is -- -- priority right now we -- -- over trillion dollars nationwide in over 94 by the student.
-- that coming out.
We also -- -- -- billionaire -- course idiots who think population.
And we need more young professionals.
Though they had they alone that we have a data -- professionals that we want but -- -- -- You know it -- have to tell me a little bit about how exactly -- design of the graduates who -- mature for your degree the past two years can apply for up to 3500 dollars a year.
Is that -- -- you read it check how does that work.
The -- at work days after the first year if you live in a in a specific -- our downtown area which is what a mile from the all.
You can short activate your that you are in good standing with -- -- land border your mortgage company.
And also -- current with your student loans that we will reimburse you for the first year we don't wanna pay monthly bills we wanna make sure -- strong oversight.
After that first year we look and start the second year meanwhile we do a two year program because we want to be afraid of a concern that -- not.
Conservative I mean it's a lot of money are you sure you can afford that.
Right now we know that population growth is our primary need we have lost over half our population over the last fifty years.
In order to survive and that the modern economy we need more -- professionals.
So there's an aggressive yes but it's been neat.
How do the math on this I mean what what kind of return do you think the city gets from having these people in in your town I mean what's the benefit and as a.
The benefit of having these people -- discretionary incumbent being part of the community.
And hopefully at the end of two years consider home ownership will have a very significant tax base which -- We calculated that number we wanna know it just under 3500 dollars year we calculated that.
Student loan averages bought 291 dollars a month but that's how we -- -- for the month we monthly cost.
Adding up to three out of 492 dollars -- -- So what is the response been so far.
You know there's been a great conversation -- starting here there are some people that are a little bit skeptical.
What we want to make sure they understand that this is not a standalone strategy it's part of it's targeted area that we're gonna bring other resources do well you know I -- tell -- I'm getting -- around the country -- -- specific.
A graduate from college.
For from California emailed me saying I'm not even interest in -- -- here's my resume I would be actually work in the video all the way.
It directly I might frame email the greatest thing -- -- -- -- -- becoming -- your town and -- what kind of jobs are there for people to do you know.
-- that we know they're making our decisions based -- played well this is Western New York that there are.
There are jobs here we are building a a new culinary institute in -- count me out is building -- new culinary institute there are.
Jobs in the greater Western New York.
Area we're hoping that -- talent is being infused will also affect the job market.
Any have you this have you seen people coming to town already I -- you said you got that email but is it really materializing into people actually doing -- I have I well we're right at the beginning of this we've just start talking about this week I've -- -- -- emails at three days.
How and while you know the real message -- -- bump -- some.
Feedback at -- all -- positive effect they.
The bad try to respond to people with -- pick up an application.
Is in process.
Yet it and you're getting some competition -- in Kansas has a similar program at this only works is gonna be other people out there trying to do the same thing are you wary.
We wanted to -- you know we let your role model we wanna be a case study -- post industrial -- and sometimes sounds like ours.
We we feel like we have an inferiority complex but we can't we give the nation or -- something creative we think we can we -- distributor model.
Right -- I love the creativity thanks for coming on we appreciate it.
They rarely.
