August 3, 2021

N.Y. State residents to get another 30-day break on medical, student loan debt

N.Y. State residents to get another 30-day break on medical, student loan debt

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 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.

More from Personal Finance:
Americans got $48 billion in unemployment last month
Here’s how you can make money during the pandemic
Your 401(k) match may be in jeopardy

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.

Click here to read original article