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Teachers with federal student loans have some loan forgiveness program options: Public Service Loan Forgiveness (PSLF) Program; Teacher Loan Forgiveness (TLF) Program; Perkins Loan cancellation for teachers; State-sponsored student loan forgiveness programs; Read on to learn which ones you may be eligible for and tips for weighing the options. 1
I request forgiveness on my Direct Loan and/or FFEL program loans based on my employment as a full-time teacher for at least five consecutive, complete academic years. During that five-year period, I taught (check all that apply):
Millions of non-profit and government employees have federal student loans and may now be eligible for loan forgiveness or additional credit through the Limited PSLF Waiver, including most full time employees of public or private non-profit schools and colleges.
Under the Teacher Loan Forgiveness (TLF) Program, if you teach full-time for five complete and consecutive academic years in a low-income school or educational service agency, and meet other qualifications, you may be eligible for forgiveness of up to $17,500 on your Direct Loan or Federal Stafford Loans.
Step 1. Explore your options. Public Service Loan Forgiveness (PSLF) allows qualifying federal student loans to be forgiven after 10 years (120 months) of qualifying payments while working for a qualifying public service employer. Teachers and school personnel may qualify for other benefits, too.
The Public Service Loan Forgiveness (PSLF) Program is an important—but largely unmet—promise to provide debt relief to support the teachers, nurses, firefighters, and others serving their communities through hard work that is essential to our country’s success.
I request forgiveness on my Direct Loan and/or FFEL program loans based on my employment as a full-time teacher for at least five consecutive, complete academic years. During that five-year period, I taught (check all that apply):
