Teachers loan forgiveness Program

Qualifying Loan Types 

• Direct subsidized and unsubsidized  

• Federal Stafford subsidized and unsubsidized 
• direct consolidation loans that have the two loan types above in the consolidation. 

Qualifying Origination Dates 

• No Outstanding loan balances on or before October 1^st, 1998, under the direct loan program or FFEL (Federal Family Education Loan) Program.  

Requirements 

• Must have 5 consecutive years of service in qualifying school and 1 of those teaching years must have been after 1997-1998 school year.  
• A qualifying Low-income school or low-income educational service agency that can be found on Teacher Cancellation Low Income (TCLI) Directory Search | Federal Student Aid. and must have been selected by the Secretary based on a determination that more than 30 percent of the school’s or educational service agency’s total enrollment is made up of children who qualify for services provided under title I during one of the years the borrower was teaching 
• If qualifying education service agency is where the customer worked, they must have 5 consecutive years of service and 1 of those years must have been after the 2007-2008 school year. 
• The loan that is being requested to have forgiveness must have been taken out prior to the 5^th consecutive year of teaching being used to qualify the applicant for forgiveness.  
• The 5 consecutive years can be a combination of qualifying schools or educational agencies. 

What are Qualifying low Income Schools 

• All elementary and post-secondary schools operated in BIE (Bureau of Indian Education) (bureau of Indian education) or on Indian Reservations operated by Indian tribal groups with a contract through the BIE. 
• Can be found on Teacher Cancellation Low Income (TCLI) Directory Search | Federal Student Aid. 

How to Receive up to $5,000 in Teachers Loan Forgiveness program 

• The teacher demonstrated knowledge and teaching skills in the areas of the elementary curriculum as certified by the chief administration officer. 

• The teacher taught in an area that was relevant to their academic major. 

To receive beyond $5,000 and up to $17,500 there is an additional requirement. 

• The borrower must have been a highly qualified science or mathematics teacher on a full-time basis or. 
• Taught as a special education teacher on a full-time basis to children with disabilities and the special training the teacher has must correspond to the children with disabilities