Niagara Falls’ Attempt To Lure College Graduates With Student Loan Payments Is Working

Last month I reported on a new trend in which cities will pay off student loans, or at least part of a persons student loan, if they are willing to relocate and live in those cities. One of those locations is Niagara Falls and it turns out the cities attempt to lure new residence is working.

The Buffalo News reports that more than 200 people have called city hall to ask about renting or buying a home in Niagara Falls since the program launched in June.

It is not just locals near the area attempting to get in on the deal either, city officials claim callers as far away as Hawaii have inquired about the jobs for which 20 spots are currently available.

City officials say people willing to buy a home or participate in community service will be the first citizens chosen and they are expected to move into the city by the end of the year.

According to community development director Seth A. Piccirillo:

“If we get those types of people in our community, those are going to be our future leaders.

The program in Niagara Falls was instituted after its population of 100,000 began to plummet with officials estimating that the popular could dip below 50,000 by the 2020 consensus. If numbers fall below that consensus mark Niagara Falls would lose some of the federal funds it desperately needs to stay afloat.

Not everyone loves the program, one city council chairman calls it “probably the biggest waste of money we’ve ever proposed.”

Those people chosen will receive $3,500 in student loan payments each year for two years.

I’m not sure if $7,000 would be enough to entice me into an area but for struggling families it could be a simple choice during tough times.