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Illinois is paying off $25 million in student loans to encourage homeownership, and that's drawing buyers to the state

Illinois is paying off 25 million dollars in student loans for new homeowners


Illinois is offering to pay off up to $40,000 of new homeowners student loan debt in a bid to attract new buyers as part of a new $25 million scheme.
The Illinois Housing Development Authority’s SmartBuy program will offer a loan equal to 15% of the home purchase price, or pay off up to $40,000 in student loans, whichever is lower. It will also provide $5,000 that can be applied to your down payment or closing costs. 
One couple from Florida considered moving to Indiana before hearing about the SmartBuy program. 
‘It definitely made the decision to move easier, and buying a home possible,’ says Peter Maloney, 26. ....

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