Borrowers who believe they are
eligible for teacher loan forgiveness may submit an application directly to their student loan servicer after the five years of consecutive, qualifying employment is complete.
If you're an AmeriCorps Program volunteer, a period of teaching that qualifies you for a benefit through the AmeriCorps Program can not be counted toward the required five consecutive years of
teaching for the Teacher Loan Forgiveness Program.
You apply
for teacher loan forgiveness by submitting a completed Teacher Loan Forgiveness Application to your loan servicer after you have completed the required five consecutive years of qualifying teaching.
For example, if you make payments on your loans during your five years of qualifying
employment for Teacher Loan Forgiveness and then receive loan forgiveness for that service, the payments you made during that five - year period will not count toward PSLF.
If your school is eligible to be in the low - income school directory, you may
reapply for Teacher Loan Forgiveness benefits once the school appears on the appropriate low - income list.
You would definitely qualify for Public Service Loan Forgiveness, and it sounds like you would qualify
for Teacher Loan Forgiveness based on what you provided — you said you're a licensed teacher and you're providing services at a Title One school.
The
website for teacher loan forgiveness states that if you provide one of the following services (speech and language pathology), you qualify as a teacher only if you are licensed, certified, or registered by the appropriate state education agency for that area in which you are providing related special educational services, and the services you provide are part of the educational curriculum for handicapped children.
That means you'll need to teach for five years in a low - income school to
qualify for the teacher loan forgiveness program, and then restart the clock for another 10 years to qualify for PSLF (it doesn't have to be at a low - income school, however).
While direct and Stafford loans are eligible
for the teacher loan forgiveness program, borrowers must have taken out their first loans on or after October 1, 1998.
If you meet these requirements and have loans other than PLUS or Perkins loans, you may qualify
for Teacher Loan Forgiveness.
«The way Congress works, nobody wanted to add to the existing programs»
for teacher loan forgiveness, says Jason Delisle, a resident fellow at the conservative American Enterprise Institute.
Choosing to study a teacher shortage area in South Dakota has many benefits: you may qualify
for teacher loan forgiveness, you may increase your chances of employment post-graduation, and you'll have the satisfaction of knowing you are helping to fill a gap in the state's education needs.
Tennessee residents are eligible
for the Teacher Loan Forgiveness Program and the TEACH Grant, which offer financial aid to students in return for agreements to teach in high - need schools.
Rhode Island residents are eligible
for the Teacher Loan Forgiveness Program and the TEACH Grant, which offer financial aid to students in return for agreements to teach in high - needs schools.
Eligible
for Teacher Loan Forgiveness?
To be eligible
for teacher loan forgiveness you must work at a qualifying employer for five consecutive years.
While direct and Stafford loans are eligible
for the teacher loan forgiveness program, borrowers must have taken out their first loans on or after October 1, 1998.
Borrowers who believe they are eligible
for teacher loan forgiveness may submit an application directly to their student loan servicer after the five years of consecutive, qualifying employment is complete.
For example, you may qualify for a mandatory forbearance if you're in a medical or dental internship program, serving in a national service position for which you received a national service award, or qualify
for teacher loan forgiveness.
Forbearances are also mandatory for teachers who are performing teaching service that would qualify
them for teacher loan forgiveness.
Some teachers are eligible for PSLF, while others are eligible for the separate program
for Teacher Loan Forgiveness.
With that career, you could pursue Public Service Loan Forgiveness, but you would also be eligible
for Teacher Loan Forgiveness.
You may also get a mandatory forbearance if you are in a medical or dental internship or residency program, received a national service award and are in a national service position, are teaching and qualify
for teacher loan forgiveness, are a member of the National Guard and activated by a governor, or you qualify for partial repayment under the U.S. Department of Defense Student Loan Repayment Program.
If you meet these requirements and have loans other than PLUS or Perkins loans, you may qualify
for Teacher Loan Forgiveness.