Teacher Loan Forgiveness

Each teacher must meet these eligibility requirements:

There can be no outstanding balances on either loans as of October 1, 1998 or thereafter.

You cannot be in default on either loan unless you have a satisfactory repayment plan with the holder of the loans.

The loans must have been made prior to the end of your 5 academic years of qualifying education service.

You have not received any benefits from the AmeriCorps Program under the Subtitle D of Title I of the National and Community Service Act of 1990 for the same education work that you are applying for the forgiveness of the loans.

You have to have been serving as an educator for 5 consecutive years, and at least one of those year must have been after the 1997-1998 school year in an elementary or secondary school that:

• Is in a low-income community and qualifies for the funds from the Title I Education Act of 1965
• The US Department of Education feels that more than 30% of the students are from families that qualify for the Title I services
• Has a listing in the Annual Directory of Designated Low-Income Schools for Teacher Cancellation Benefits.

There are more requirements for teachers whose teaching service began before October 30, 2004 - and for those who began after that date. Click here to find our more information.

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