ATTENTION TEACHERS!
Do you owe a Student Loan and are teaching for a low income school district?
If you are, you may be eligible to have up $5,000 in forgiveness benefits for highly qualified teachers or up to $17,500 for highly qualified mathematics, science, and special education teachers from your student loans forgiven. The Teacher Loan Forgiveness Program was instituted by the U.S. Department of Education to allow borrowers of Direct Loans or Federal Family Educational Loan (FFEL) loans to have up to $5,000 in forgiveness benefits for highly qualified teachers or up to $17,500 for highly qualified mathematics, science, and special education teachers discharged from their students loans. Direct and FFEL Loan borrowers who are teachers teaching in selected low-income schools for five consecutive complete academic years may be eligible for the Teacher Loan Forgiveness Discharge.
The Teacher Loan Forgiveness Application and the Teacher Loan Forgiveness Forbearance form may be used by:
- Teachers who started their qualified teaching service before October 30, 2004. These teachers may receive up to $5,000 in loan forgiveness for service as a full-time elementary school teacher who demonstrates knowledge and teaching skills in reading, writing, mathematics, and other areas of the elementary school curriculum or for service as a full-time secondary school teacher teaching in a subject area that is relevant to their academic major;
- Teachers who started their qualified service on or after October 30, 2004.These teachers may receive up to $5,000 in loan forgiveness for service as a highly qualified, full time elementary or secondary school teacher, as defined in the application;
- Teachers who started their qualified service on or after October 30, 2004. These teachers may receive up to $17,500 in loan forgiveness for service as a highly qualified, as defined in the application, full-time mathematics or science teacher in an eligible secondary school or for service as a highly qualified special education teacher; and
- Certain teachers who previously received teacher loan forgiveness under the previous provisions of the law. These teachers may receive loan forgiveness up to the difference between $17,500 and the amount that had previously been forgiven only if the borrower is otherwise eligible and has five complete consecutive years of qualified teaching service that met the definition of a highly qualified full-time mathematics or science teacher in an eligible secondary school or a highly qualified special education teacher.
Teacher Loan Forgiveness ApplicationTeacher Loan Forgiveness Forbearance FormAll you need to do is visit The Department of Education's web site for additional information at
www.dlssonline.com Once there, you click on FAQ's then Teacher Loan Forgiveness Program.
For more information, you may also contact the Student Financial Services office at SSB 186 or at (956) 381-2143.
