My state refund was $508. After inputting my $50,000 student loan forgiven under the PSLF program, my state refund jumped to $3,700. Is this right?

Turbo tax has the 'Student Loans Discharged or Forgiven under any Federally Authorized Program' section. I input the amount of loan forgiven under PSLF for NYS. Why am I getting such a huge state refund?