LaValle encourages students to seek new state-sponsored school loans

10/11/2010 6:01 PM |

ew York State Senator Ken LaValle is encouraging local college students to take advantage of a new state-sponsored loan program.

The Higher Education Loan Program first offered loans to students this past spring semester as a way to help make the continually climbing cost of college more manageable.

Mr. LaValle’s spokeswoman Jean Segall said as a ranking member and former chair of the Senate Higher Education Committee, the senator is continually looking for ways to foster student achievement.

“He always keeps students informed of different programs that are there to help them,” Ms. Segall said.

The program offers low-cost, fixed-rate loans with a guarantee that monthly payments will never increase, according to its website. The program has an emphasis on informing students of their education finances.

Loans through the program are available to New York residents who attend colleges in state and need additional aid after receiving other federal and state aid. Most, but not all, colleges in the state participate in the program.

Loans of up to $20,000 are given to undergraduates attending 2-year colleges, $50,000 for undergraduates attending 4-year schools, and $70,000 for undergraduate and graduate school combined.

Samatha@northshoresun.com