The Teacher Loan Forgiveness Program is intended to encourage individuals to enter and continue in the teaching profession. Under this program, if you teach full-time for five complete and consecutive years in certain elementary and secondary schools and educational service agencies that serve low-income families, and meet other qualifications, you may be eligible for forgiveness up to $17,500 on your Direct Subsidized and Unsubsidized Loans and your Subsidized and Unsubsidized Federal Stafford Loans.
- You have an eligible Stafford/Ford Loan that you obtained through the Direct Loan or FFEL Programs, or you have a Direct Loan or FFEL consolidation loan that you received to repay an eligible Stafford Loan.
- You are not in default on the loan for which you are requesting forgiveness (unless you’ve made satisfactory repayment arrangements with the holder of the loan).
- You were employed for at least five consecutive, complete school years as a full-time teacher in a low-income elementary or secondary school (public or private) or educational service agency. To find out whether your school or educational service agency qualifies as low-income, visit www.tcli.ed.gov/CBSWebApp/tcli/TCLIPubSchoolSearch.jspor or call 1-800-4-FED-AID. Note: all schools operated by the Bureau of Indian Education (BIE) are considered low-income schools for purposes of this program.
- You’re a new borrower. You are considered a new borrower if you did not have an outstanding balance on a Direct or Federal Family Education Loan (FFEL) Program loan on Oct. 1, 1998 or on the date you obtained a Direct or FFEL Program loan after Oct. 1, 1998.
- You’ve not received a benefit for the same teaching service through AmeriCorps or the Public Service Loan Forgiveness Program (above).
- You received the loan for which you are requesting forgiveness before the end of your fifth year of qualifying teaching.
How it works
If you meet the eligibility requirements, you may receive up to $5,000 in loan forgiveness if your five years of qualifying teaching service began before Oct. 30, 2004, and you were:
- A full-time elementary school teacher at an elementary school or educational service agency who demonstrated knowledge and teaching skills in reading, writing, mathematics, and other areas of the elementary school curriculum; or
- A full-time secondary school teacher or teacher of secondary students at an educational service agency who taught in a subject area relevant to your academic major; or
Or, if your five years of qualified teaching service began on or after Oct. 30, 2004, and you were:
- A highly qualified full-time elementary or secondary school teacher at a low-income elementary or secondary school or educational service agency.
You may receive up to $17,500 in loan forgiveness if you were:
- A highly qualified full-time mathematics or science teacher in a secondary school, or a highly qualified full time teacher of mathematics or science to secondary students at an educational service agency; or
- A highly qualified full-time special education teacher who taught children with disabilities at an elementary or secondary school or educational service agency. In addition, you must have taught children with disabilities that correspond to your area of special education training, and you must have demonstrated knowledge and teaching skills in the content areas of the elementary or secondary school curriculum.
Most rural, and many urban Alaskan schools with low income populations are eligible for various teacher loan forgiveness incentives. Check the Teacher Cancellation Low Income (TCLI) Eligible Schools List to see if your school qualifies. Visit www.tcli.ed.gov/CBSWebApp/tcli/TCLIPubSchoolSearch.jsp
Currently 380 schools in Alaska qualify!
To learn more visit studentaid.ed.gov