Annual Directory of Designated Low-Income Schools for Teacher Cancellation Benefits
Are you teaching at a low-income school that may qualify you for Teacher Loan Forgiveness? Find out here!
Why is it that only a borrower who took out his or her first Federal Family Education Loan Program (FFELP) or Federal Direct Loan Program (FDLP) loan after October 1, 1998 (or who had no outstanding balance on a prior FFELP or FDLP loan at the time the borrower took out a new loan after October 1, 1998), qualifies for forgiveness under this program?
The Teacher Loan Forgiveness Program (TLFP) is a program that Congress created in response to existing and anticipated teacher shortages. Congress limited the range of borrowers to encourage new people to enter into and continue working in the teaching profession.
What if I borrowed a FFELP or FDLP loan on or before October 1, 1998, and still had an outstanding balance on that loan when I borrowed a new loan after October 1, 1998? Can I apply for forgiveness on the loan I borrowed after October 1, 1998?
No. Unfortunately, you must have borrowed your first FFELP or FDLP loan after October 1, 1998, or you must have paid off any FFELP or FDLP loan you borrowed on or before October 1, 1998, before you borrowed a new loan after October 1, 1998, (and meet other applicable eligibility criteria) to qualify for teacher loan forgiveness.
Can teacher’s aides qualify for forgiveness too?
No, only full-time teachers qualify for forgiveness under the TLFP.
For the purposes of the TLFP application, who is my “chief administrative officer”?
The chief administrative officer is the official who has access to employment records that establish your eligibility for loan forgiveness in accordance with the requirements explained on the Teacher Loan Forgiveness Application, and who is authorized to verify your qualifying employment at a school or by an educational service agency. Depending on your employer, the chief administrative officer may be a principal, assistant principal, superintendent, or other school or educational service agency official.
Can I postpone my loan payments while I’m completing my teaching service?
You can request a forbearance by completing a Teacher Loan Forgiveness Forbearance Form, and sending it to your loan holder. Your loan holder is required to grant this forbearance only if the loan holder believes that the maximum forgiveness amount you are seeking will pay your loan balance off in full at the end of your teaching service.
If I make payments on my loans and the outstanding balance is less than $5,000 ($17,500 for certain highly qualified secondary math or science teachers, or elementary or secondary special education teachers) at the end of my five years of teaching service, can any payments I’ve made be refunded?
No. The forgiveness only applies to any outstanding balance at the end of the five-year period of qualifying service. That’s why if you have a low balance, it is advantageous for you to request a forbearance while you are performing your teaching service, to help you maximize your forgiveness benefit.
Is there a website that lists all of the qualifying schools and locations at which a borrower could teach to be eligible for teacher loan forgiveness?
Yes. Visit the Annual Directory of Designated Low-Income Schools for Teacher Cancellation Benefits to access a list of all the qualifying schools and locations. However, the list of qualifying schools and locations changes each year, and a school may be considered “low-income” one year but not the next.
Where can I obtain an application for teacher loan forgiveness?
You can download the Teacher Loan Forgiveness Application from TG Online.