Teacher loan repayment programs

Student loan forgiveness is a program where the federal, state or local government or some other organization wipes out either all or part of your student loan balances. One of the perks of teaching is that you could potentially have access to multiple student loan forgiveness programs. Eligibility requirements vary, but some programs will forgive your debt after just a few years.

Each student loan forgiveness program for teachers has different eligibility requirements. For example, some forgiveness programs are only available if you work at an eligible public school or teach a specific subject. Other forgiveness options may be more lenient in this area. One common requirement, especially for federal forgiveness programs, is that your student loans can't be in default.

The potential to lose out on student loan forgiveness benefits is just one more reason why keeping up with your student loan repayment schedule is so important. Below are three student loan forgiveness options for teachers that could potentially save you a bundle.

The program works for Direct or FFEL Loans subsidized or unsubsidized and may be available once you serve as a full-time teacher for five or more years. This program can potentially wipe out up to percent of your remaining federal student loan debt Direct Loans or Direct Consolidation Loans after you work for a qualifying government or nonprofit organization for at least 10 years.

Through , Perkins Loans were available to certain undergraduate and graduate students with a financial need. To receive these benefits, borrowers will have to submit a PSLF form by October 31, , which is a single application used to certify employment and evaluate a borrower for forgiveness. The waiver applies to loans taken out by students. Allowing active duty service members to count deferments and forbearances toward PSLF. This solves a problem for service members who have paused payments while on active duty but were not getting credit toward PSLF.

Automatically providing credit toward PSLF for military service members and federal employees using federal data matches.

The Department will implement data matches next year to give these borrowers credit toward PSLF without an application. These actions will help identify and address servicing errors or other issues that have prevented borrowers from getting the PSLF credit they deserve. On Wednesday afternoon, Secretary Cardona and Under Secretary James Kvaal will meet with a group of public servants who stand to benefit from these changes, including a member of the Army National Guard, a math teacher, and an epidemiologist, among others.

The Department is exploring additional steps, such as partnerships with employers, to continue to make this process easier for borrowers. You can also find additional information on our FAQ page. Also, up to ten physicians per year may qualify by serving patients in a Texas Juvenile Justice Department or Texas Department of Criminal Justice facility. The purpose of the Nursing Faculty Loan Repayment Assistance Program is to improve access to nursing education programs by encouraging qualified nurses to serve as faculty at eligible institutions of higher education.

RCHIP assists rural communities in recruiting health care providers, other than physicians, to practice in their community by providing partial student loan reimbursements or stipend payments to non-physicians for 1 year of service. Note that applications are submitted by facilities who then decide which providers receive awards. The purpose of the St. David's Foundation Public Health Corps Loan Repayment Program is to recruit and retain qualified primary care and behavioral health providers at eligible sites located in the five-county Central Texas area served by the Foundation.