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Loan Forgiveness for Teachers

Loan Forgiveness for Teachers

Jill Hare | Editor, TheApple

In Multiple States:

Federal Perkins Loan Cancellation

Teachers may have up to 100 percent of a federal Perkins Loan discharged (cancelled) for teaching fulltime in a public or nonprofit elementary or secondary school system. Qualifying persons must serve fulltime as 1) a teacher in a school serving students from low-income families; 2) as a special-education teacher, including teachers of infants, toddlers, children, or youth with disabilities; or 3) as a teacher in the fields of mathematics, science, foreign languages, bilingual education, or in any other field of expertise determined by a state education agency to have a shortage of qualified teachers in that state.

Contact: Federal Student Aid Information Center ● 800.433.3243 ● www.studentaid.ed.gov (The Non-Traditional Licensure program fee does not qualify for Perkins loan cancellation).

Federal Stafford Loan Forgiveness

The program allows eligible borrowers to receive forgiveness for their outstanding student loan balances on FFEL and Direct Loans. It also allows for forbearance of repayment during the 5-year teaching period leading up to forgiveness. Fulltime elementary and secondary teachers in designated low-income schools may receive up to $5,000. Fulltime math, science and special education teachers in designated low-income schools may receive up to $17,500 in loan forgiveness.

Contact: Federal Student Aid Information Center ● 800.433.3243 ● www.studentaid.ed.gov (The Non-Traditional Licensure program fee does not qualify for Stafford loan forgiveness).


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  • Photo_user_blank_big

    jan59

    14 days ago

    2 comments

    In Florida there is a program, but only if you did not have a school loan balance as of 1998. So.... for those teachers (like myself), who have worked in low income schools for over 20 years, but still have a huge balance, don't get a break. I don't think that is fair. Any ideas?
    There is a fairly new program called the Public Service Loan Forgiveness program for teachers. Maybe this will help someone.

  • Photo_user_blank_big

    neil

    18 days ago

    10 comments

    I have gone through this article and have got these teachers may receive loan forgiveness up to the difference between $17,500 and the amount that had previously been forgiven only if the borrower is otherwise eligible and has five complete consecutive years of qualified teaching service as a highly qualified full-time mathematics or science teacher in an eligible secondary school or a highly qualified special education teacher.

    gifts for her

  • Imgp2131_max50

    kwiencek

    about 1 month ago

    4 comments

    az should offer something...they don't pay us s{($!!!!

  • Karens_camera_089_max50

    ctauber

    3 months ago

    20 comments

    Birkman, though I agree with you, if everyone who had student loans claimed bankruptcy, the economy would go even further into the toilet. It would be nice if they did something to reward the students who had good grades. Cut us some kind of slack.

  • Karens_camera_089_max50

    ctauber

    3 months ago

    20 comments

    of course my state would not be one of them

  • Me_before_prom_max50

    AngelNeko

    3 months ago

    22 comments

    I don't know about a state loan forgiveness program in Kansas, but Wichita USD 259 has one. Its called Grow Your Own Teacher and they have info posted on their website usd259.com. They are working with local colleges like Wichita State and Friends University and it pretty much guarantees a teaching position after graduation

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    SarahLester

    5 months ago

    2 comments

    LA sucks. No forgiveness?

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    jovick25

    5 months ago

    2 comments

    what happened to Ma. so When I finish school maybe I should move to a state that offers this :(.

  • Photo_user_blank_big

    airby4171

    5 months ago

    2 comments

    so they dnt offer it at all in SC????

  • Andrea_209_max50

    Andrealynn721

    5 months ago

    2 comments

    What about California and what if i am already working in a low income situation for 4 years

  • Photo_user_blank_big

    osburn40

    5 months ago

    2 comments

    God forgive me, but I DO hate Louisiana.

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    BryanEaton

    5 months ago

    2 comments

    God I love ohio...

  • November_2006_73x85_-_copy_max50

    Teddi14

    5 months ago

    8 comments

    I have a squidoo lens about this program at: http://www.squidoo.com/teacher_student_loan_cancellation I will personally be utilizing this program this year.

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    LMcGarv

    5 months ago

    54 comments

    I'm going to direct my student teachers to this list.

  • Feb01_01_max50

    stewarmf

    5 months ago

    4 comments

    I just graduated with a degree in History and Global Studies. I don't want to teach now because I am traveling and want to work for a non-profit. Though I am thinking of getting certified before graduate school. Can I get loan forgiveness for my undergrad if I am not teaching before graduate school? Does this even make sense?

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