Newburgh Heights passes student loan payment plan for homebuyers

Newburgh Heights passes student loan payment plan for homebuyers
(WOIO)

CLEVELAND, OH (WOIO) - Newburgh Heights has approved an ordinance to help pay student loans for people who buy a home in the city.

Newburgh Heights passes student loan payment plan for homebuyers

This starts on Jan. 4, new home buyers would be eligible for up to 50 percent of their student loan or $50,000 to be paid.

Under the ordinance, the buyer would get 80 percent after 10 years of living in the city and the full amount after 15 years.

Potential buyers must graduate from a 4-year accredited college, be up-to-date on their student loan payments and must purchase a home with a value of $50,000 or higher.

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