Loan Paying Tips: Teacher Loan Forgiveness

Quality teachers are central to a strong educational system. You may be eligible for Teacher Loan Forgiveness if you teach full-time for five complete and consecutive academic years in certain elementary and secondary schools and educational service agencies that serve low-income families, and meet other qualifications. For eligible teachers, forgiveness may be up to a combined total of $17,500 on Direct Subsidized and Unsubsidized Loans and Subsidized and Unsubsidized Federal Stafford Loans. Borrowers with PLUS loans only are not eligible for this type of forgiveness.

With Teacher Appreciation Week right around the corner (May 6-10), now is a great time to learn more about eligibility requirements and how to apply at http://studentaid.ed.gov/repay-loans/forgiveness-cancellation/charts/teacher.