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Teacher Loan Forgiveness-Qualifying Schools
Are you teaching at a low-income school that may qualify you for Teacher Loan Forgiveness? Find out here!
The Teacher Loan Forgiveness Program is intended to encourage individuals to enter into and continue in the teaching profession.
To qualify for teacher loan forgiveness, a borrower must teach full time for five consecutive, complete academic years at an eligible elementary or secondary school or a qualifying location that serves low-income families, and must meet other criteria listed on the application. Teaching at an educational service agency may be counted toward the required five consecutive complete academic years only if the consecutive five-year period includes qualifying service at an eligible educational service agency performed after the 2007-2008 academic year. Depending on the criteria met, a borrower may qualify for up to $5,000 or up to $17,500 in forgiveness of his or her outstanding loan balance. For the specific criteria for teacher loan forgiveness, click on the application below.
A borrower seeking teacher loan forgiveness must complete and forward the following application to his or her loan holder:
At the borrower's request, the borrower's loan holder must grant the borrower a forbearance in annual increments during each of the borrower's five years of qualifying teaching service, if the loan holder believes that the borrower will qualify for forgiveness of his or her entire anticipated outstanding loan balance at the end of his or her five years of teaching service. A borrower who qualifies for the forbearance will not be required to make payments while performing his or her service.
A borrower should complete the following forbearance form on an annual basis and forward it to his or her loan holder.
For more information concerning teacher loan forgiveness, contact TG customer assistance at (800) 845-6267 or send an email message to email@example.com.
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