What are the eligibility requirements for student loan forgiveness for teachers?

What are the eligibility requirements for student loan forgiveness for teachers?

To qualify for student loan forgiveness as a teacher, you must work full-time in a low-income school or educational service agency for five consecutive years.

Are there specific types of loans that are eligible for forgiveness?

Yes, only certain federal loans, such as Direct Subsidized and Unsubsidized Loans, are eligible for the Teacher Loan Forgiveness program.

How much can I get forgiven under this program?

You can receive up to $17,500 in loan forgiveness, depending on your subject area and the school you work for.

What if I have already made payments on my loans?

Payments made before qualifying for the program may count towards the five-year requirement, but you need to apply for forgiveness after meeting all criteria.

How do I apply for the Teacher Loan Forgiveness program?

You can apply by submitting the Teacher Loan Forgiveness Application to your loan servicer after completing the required teaching period.