Teacher Loan Forgiveness
10/30/2012 10:31 AM
The Teacher Loan Forgiveness Program is intended to encourage individuals to enter and continue in the teaching profession. Under this program, if you teach full-time for five complete and consecutive academic years in certain elementary and secondary schools and educational service agencies that serve low-income families, and meet other qualifications, you may be eligible for forgiveness of up to a combined total of $17,500 on your Direct Subsidized and Unsubsidized Loans and your Subsidized and Unsubsidized Federal Stafford Loans. For more information on the Teacher Loan forgiveness program visit the U.S Department of Education Federal student Aid page.
To verify whether a school you are employed with has met low income status, you may search for the school on the Directory of Low-Income Schools for Teacher Cancellation Benefits
. If you believe your school meets the low income status yet is not on the register, please have your administrator complete the school verification form and return to the state representative listed.
Private school teachers may also qualify for the Teacher Loan Forgiveness Program. If their school is not yet included in the Low Income directory, please have your administrator complete the school verification Form and return to the state representative.
To see the school verification form look in useful links and documents.