City program will pay off part of student loans - but deal comes with a catch

Do you have student loans that you need to pay off?

One city will give you money to help pay them back – but the deal comes with a catch.

A program in Niagara Falls, New York will pay off $7,000 of student loan debt over the course of two years if the recent graduate agrees to live in a certain neighborhood.

The neighborhood is near Main Street and has been in decline in recent years.

According to an online report by, five people are currently participating in the program.

The program has brought new residents to Niagara Falls, however, there is no guarantee the participants will stay long-term after the program ends.