Press Release
CSS Applauds Governor Hochul for Prioritizing Student Loan Borrowers in Executive Budget
The Community Service Society of New York (CSS) thanks Governor Kathy Hochul for her continued leadership in supporting student loan borrowers by including the Education Debt Consumer Assistance Program (EDCAP) in her 2025-26 Executive Budget. Under Governor Hochul, New York has expanded critical resources for borrowers, ensuring they have access to the help they need to manage their loans and protect their financial futures.
EDCAP, the first-in-the-nation student loan consumer assistance program, serves as a lifeline for borrowers navigating an increasingly uncertain federal student loan landscape. With the Trump administration threatening to weaken the Department of Education and introduce instability in loan servicing, programs like EDCAP are more critical than ever. Without dedicated state support, borrowers risk facing misinformation, lost records, and confusion about their repayment and forgiveness options—potentially leading to financial hardship.
The stakes are high not just for borrowers, but for New York’s economy as well. Unmanageable student loan debt reduces homeownership rates, limits small business creation, and diminishes consumer spending, ultimately hindering economic growth across the state. Many borrowers struggling with unaffordable monthly payments are forced to make difficult financial choices, cutting back on essential expenses and delaying major life milestones. By funding EDCAP, New York is investing in the financial well-being of its residents and ensuring that higher education remains a pathway to economic mobility rather than a barrier to financial stability.
"Governor Hochul’s commitment to higher education access and affordability ensures that New Yorkers are not left to fend for themselves amid shifting federal policies and economic uncertainty," said David R. Jones, President and CEO of CSS. "At a time when options for loan forgiveness remain limited and repayment burdens are growing, EDCAP’s services are essential in helping borrowers avoid financial distress.”
CSS urges borrowers to take proactive steps in managing their student loan records and stay informed about their repayment options. For assistance, New Yorkers can turn to EDCAP (www.edcapny.org) for free, unbiased guidance.
About the Community Service Society of New York
The Community Service Society of New York (CSS) has worked with and for New Yorkers since 1843 to promote economic opportunity and champion an equitable city and state. We power change through a strategic combination of research, services, and advocacy to make New York more livable for people facing economic insecurity. By expanding access to health care, affordable housing, employment opportunities, debt assistance, and more, we make a tangible difference in the lives of millions. Join us at www.cssny.org.
For more information, visit edcapny.org.
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