Governor Andrew Cuomo is unveiling a program he says would help encourage recent college graduates to stay in their upstate communities.
It’s called a “Graduate to Homeownership Program" and the governor has released it as part of his State of the State proposals.
The $5 million program will subsidize low interest loans, help with down payments and homebuyer education to encourage young people to stay in Upstate New York and help revitalize downtowns in their cities.
Cuomo says despite being home to some of the nation’s top colleges, many upstate communities are struggling to retain recent graduates.
The governor says that New York City leads the nation, with more than 71 percent of students from colleges and universities remaining in the area after they graduate, but many upstate communities, including Rochester and Buffalo have struggled to retain graduates.
Cuomo says the initial pilot program will be expanded in future years if the program is proven successful.
