The Teacher Loan Forgiveness Program is one of the most beneficial programs and forgiveness options for teachers. It offers teachers principal reduction and an early ten-year forgiveness option.
Teachers can qualify for a principal loan reduction of between $5000 to $17,500 of their loan. Qualified teachers can also enjoy full loan forgiveness of their loans after ten years. Teacher Loan Forgiveness is made possible through the public service loan forgiveness program, but in many cases, teachers qualify and receive benefits from both programs.
The requirements that must be met to be eligible for the teacher loan forgiveness program are:
A teacher is a person who provides direct classroom teaching or has provided classroom-type teaching in a nonclassroom setting. Special education educators are teachers. Teachers must have been teaching for a minimum of five full and consecutive academic years to qualify for principal reduction.
If you believe that you qualify for the Teacher Loan Forgiveness Program, give us a call or contact us, Student Debt Doctor through the site to help you begin the process with professional help. However, you can try to attempt to begin the process for free through the US Department of Education.