Teaching Student Loan Forgiveness Program

Teaching Student Loan Forgiveness Program

Loan Forgiveness

There are numerous state programs that provide educational grants or loan repayment programs in an effort to entice more teachers into public schools. Teach for Texas may repay up to $20,000 in student loans in return for teaching in a field which has been certified as one where areas of the state have shown acute need. California's APLE program may assume up to $19,000 in student loans in return for teaching in a California public school that has a teacher shortage or in a field where there is an acute shortage of teachers. There are a series of criteria in this program that cause the amount of state participation to rise; there are also a large number of options for teaching responsibilities that may make you eligible.

In Mississippi there is a loan repayment program for teachers that provides a $3,000 per year reimbursement for eligible teachers who have agreed to teach in a Mississippi school for a period of years. The State of Florida underwrites two programs: a loan forgiveness program for teachers working in an area where there is an acute teacher shortage and a tuition reimbursement program for current employees of Florida Public Schools to pursue a certified in a critical teacher shortage academic field.

At the municipal level Teach NYC provides loan relief to teachers who are willing to work in a designated New York City school for a period of five years. There are several incentive programs sponsored by the City and this is just one of them. Teachers who happen to pursue the master's in teaching degree at NYU may be doing their field assignments in this school system, easily the most diverse in the nation.

Federal Loan Forgiveness Programs

The Stafford Loan Forgiveness Program for teachers is a program that the U.S. Department of Education extends to teachers who agree to work for five years in a designated loan income school and who meet certain other criteria. The program may eradicate up to $17,500 in Stafford student loans for licensed teachers who agree to participate. Stafford loans to for undergraduate and graduate studies are eligible, as are the PLUS loans that are made available to graduate students. Perkins loans are not part of this program.

However there is a Perkins Loan Cancellation Program available to teachers who received funds through this program and successfully completed teacher licensing. Requirements may be that you teach in a low income school or work in special education in a designated school, or teach in one of the fields where there continues to be an acute teacher shortage. Those include mathematics, foreign languages, science, or bilingual education.