Loan Forgiveness For Teachers


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Loan Forgiveness For Teachers

  1. 1. Loan Forgiveness for Teachers<br />The Apple has researched and compiled a complete list of states that offer loan forgiveness for teachers. Not all states offer loan forgiveness, but there are federal programs that may help teachers erase school debt. <br />State list in alphabetical order:<br />Alaska<br />Alaska Teacher Education Loan<br />The Alaska Legislature established the Teacher Education Loan (TEL) to encourage Alaska high school graduates to pursue teaching careers and to teach in Alaska rural elementary and secondary schools. There is up to 100% loan forgiveness to qualifying borrowers and a $7500 annual limit.<br />Source:<br />Arkansas<br />Arkansas Geographical Critical Needs Minority Teacher Scholarship<br />Minority students may receive up to $1,500 per academic year for four years or the completion of a degree if they agree to teach in the Delta or an area of the state designated as having a critical shortage of teachers by the State Board of Arkansas<br />Contact: Linda Harris ● 870.575.8256 ●<br />Arkansas Education Loan for Teachers<br />A special student loan repayment program designed exclusively to make the cost of education for teachers more affordable and rewarding than ever.<br />Contact: Arkansas Student Loan Authority ●<br />Minority Masters Fellows (MMF) <br />MMF provides forgivable loans to graduate-level minority students who were recipients of Minority Teachers Scholars Program loans. Recipients may receive a maximum of $7,500 for one academic year (or up to $2,500 per summer for a maximum of three summers). Recipients must teach in an Arkansas public school or public institution of higher education for two years after completion of their Masters program. This shall be in addition to any teaching obligation the recipient may have to fulfill based on receipt of MTSP funds.<br />Bottom of Form<br />Contact: Arkansas Department of Higher Education ● 800.547.8839 ●<br />State Teacher Assistance Resource (STAR) Program<br />The Arkansas State Teacher Assistance Resource (STAR) provides forgivable loans to students pursuing an education degree leading to an initial teacher licensure. Recipients must teach in designated subject and/or geographical critical shortage areas in Arkansas public schools after completion of licensure requirements.<br />Source:<br />Colorado<br />Colorado Loan Incentive for Teachers (LIFT)<br />Teachers can get a maximum of $2,000 a year toward loan repayment for up to four years.<br />Colorado Loan Incentive for Teachers1801 Broadway, Suite 1300Denver, CO 80202 <br />Early Childhood Development Professional Loan Repayment Program<br />Must be employed full-time for at least nine months at a licensed child care facility to qualify. Could earn up to $1,000 in loan repayment per year for two years.<br />Early Childhood Development Professional Loan Repayment Program1801 Broadway, Suite 1300Denver, CO 80202<br />Delaware<br />Delaware Teacher Corps<br />Loan forgiveness provision at a rate of one year of teaching in a Delaware public school critical needs subject for one year of loan and loan not to exceed cost of tuition.<br />Teacher Shortage Areas in 2008-09:<br />1. Art 2. Bilingual Teachers 3. Business Education 4. English 5. ESOL (English to Speakers of Other Languages) 6. Foreign Language 7. Mathematics (all levels) 8. Music 9. Reading Specialists 10. Science (all levels) 11. School Librarians 12. Special Education 13. Technology Education<br />Source:<br />Florida<br />Critical Teacher Shortage Student Loan Forgiveness Program<br />The Critical Teacher Shortage Student Loan Forgiveness (CTSLF) Program provides financial assistance to eligible Florida teachers who hold a valid Florida Teacher’s Certificate or Florida Department of Health License by assisting them in the repayment of undergraduate and graduate educational loans that led to certification in a statewide critical teacher shortage (CTS) subject area.<br />Source:<br />Georgia<br />HOPE Forgivable Loans<br />If you are a teacher serving in a low-income or subject-matter shortage area, it may be possible for you to cancel or defer your student loans. If you have a loan or multiple loans from the Federal Direct Loan Program or the Federal Family Education Loan Program (FFEL), you may be eligible for deferment if you are teaching full-time in a teacher shortage area.<br />Source:<br />Illinois<br />The Illinois Teachers and Child Care Providers Loan Repayment Program<br />Federal Stafford loan borrowers who fulfill a five year agreement in a particular low-income school could get a maximum of $5000 in loan forgiveness.<br />The Illinois Teachers and Child Care Providers Loan Repayment Program1755 Lake Cook RoadDeerfield, IL 60015<br />Iowa<br />Teacher Loan Forgiveness <br />The State of Iowa offers cancellation benefits to teachers. The maximum annual award is 20% of the teacher’s total federal Stafford loan balance, including principal and interest, not to exceed the average resident tuition rate established for students attending universities governed by the Iowa Board of Regents for the first year following the recipient’s graduation. For 2009 graduates, the maximum award is $6,704.<br />Source:<br />Maine<br />Educators for Maine Program<br />A merit-based forgivable loan program that provides assistance to students pursuing a career in teaching, speech pathology and child care.<br />Source:<br />Maryland<br />JANET L. HOFFMAN LOAN ASSISTANCE REPAYMENT PROGRAM (LARP)<br />Maryland residents who provide public service in Maryland State or local government or nonprofit agencies in Maryland to low income or underserved residents.<br />Teachers at any level or subject field who teach in schools designated as Federal Title I or Schools Identified for Improvement by the Maryland State Department of Education (MSDE). The official list of schools is available at the bottom of the LARP program description page (see below). Head Start Programs are not eligible.<br />Teachers with the following areas of certification:<br />1. technology education (secondary);2. chemistry (secondary);3. computer science (secondary);4. English for Speakers of other Languages-ESOL (elementary & secondary);5. health occupations (secondary);6. Latin (secondary);7. mathematics (secondary);8. physics (secondary);9. earth/space science (secondary);10. physical science (secondary);11. dance (elementary and secondary);12. reading specialist (elementary & secondary);13. speech language pathology (educational service area);14. Spanish (secondary); and15. special education: generic – infant to grade 3; grades 1 through 8; grades 6 to adult; hearing impaired; severely & profoundly disabled; visually impaired.<br />Source:<br />Bottom of Form<br />Mississippi<br />Mississippi Teacher Loan Repayment Program (MTLR)<br />Mississippi funds are available to help teachers pay back their undergraduate loans if they currently hold an Alternate Route Teaching License and currently teach in a Mississippi Teacher Critical Shortage Area or Critical Subject Area.<br />Recipients may receive up to $3000 annually toward their undergraduate loans for a maximum of four years. Awards are paid directly to the loan servicer. Recipients must apply each year.<br />Source:<br />Montana<br />Quality Educator Loan Assistance Program<br />The Quality Educator Loan Assistance Program provides for the direct repayment of educational loans. The total loan repayment assistance may not exceed $3,000 per year for up to four years.<br />Source:<br />Nebraska<br />Shortage Areas/Low Income Loan Forgiveness<br />Teachers that teach in approved shortage subject areas or low income schools, including Title 1 schools, may qualify for loan forgiveness in Nebraska.<br />Source:<br />New Mexico<br />Teacher Loan-For-Service<br />The purpose of the Teacher Loan-for-Service is to proactively address New Mexico’s teacher shortage by providing students with the financial resources to complete or enhance their post-secondary teacher preparation education.<br />The award may not exceed $4,000 per year. Each award may be renewable for up to five years if application is submitted each year.<br />Source:<br />North Dakota<br />Teacher Shortage Loan Forgiveness Program<br />The intent of the Teacher Shortage Loan Forgiveness Program is to reduce a student’s loan indebtedness for individuals teaching in North Dakota at grade levels and/or in content areas identified by the Department of Public Instruction as having a teacher shortage.<br />Funding recipients are eligible to receive up to $1000 per year in continued loan forgiveness for each consecutive year they teach in a teacher shortage area, subject to a maximum of $3,000.<br />Source:<br />Oregon<br />Loan Forgiveness Low-Income Program<br />The program is designed to allow loan forgiveness based on poverty rate of schools where teachers are employed and have loans under the Federal Perkins Loan (Perkins)/National Direct Student Loan (NDSL), Federal Family Education Loan (FFEL), and William D. Ford Federal Direct Loan (Direct Loan) programs.<br />Source:<br />Tennessee<br />Tennessee Math & Science Teacher Loan Forgiveness<br />The Tennessee Math & Science Teacher Loan Forgiveness Program provides financial assistance to Tennessee public school teachers seeking an advanced degree in a math or a science, or a certification to teach a math or a science. Loan forgiveness requires employment in a Tennessee public school system two (2) years for each year of the loan funding received.<br />Source:<br />Texas<br />Student Loan Forgiveness for Teachers<br />Every year the Texas Education Agency (TEA) produces a list of subject-matter teacher shortage areas and a list of designated low-income schools that are submitted to the US Department of Education (USDE). Teachers with certain types of student loans may qualify for partial loan forgiveness, deferment, or cancellation benefits. Eligibility for these benefits depends on the type of loan the teacher has, the date of his/her first loan, and whether the teacher serves in a designated low-income school or subject-matter teacher shortage area.<br />Designated low-income schools are those with greater than 30% of enrolled students from low-income families, in districts that are eligible for Title I funds.<br />Source:<br />Utah<br />T. H. Bell Teaching Incentive Loan<br />The Teaching Incentive Loan (TIL) is funded by the Utah State Legislature. TIL recipients are required to pursue an educator preparation program, obtain educator licensing, and then teach in Utah public schools for a period equal to the time they received assistance. The TIL consists of a waiver (of tuition and fees at the Utah public institutions and $995.00 per semester at private institutions) to be used for a period not exceeding 8 semesters. The program is jointly administered by the State Board of Education and the State Board of Regents.<br />Source:<br />Washington<br />Future Teachers Loan Repayment Program<br />The Loan Repayment program encourages outstanding students and paraprofessionals to become teachers, and assists current teachers in obtaining additional endorsements in shortage subjects.<br />In return for conditional scholarships or loan repayments, participants agree to teach in Washington K-12 public schools, (usually two years of teaching for each year of funding). Funding is available for approximately 100 recipients in 2009-10.<br />Source:<br />In Multiple States: <br />Federal Perkins Loan Cancellation <br />Teachers may have up to 100 percent of a federal Perkins Loan discharged (cancelled) for teaching fulltime in a public or nonprofit elementary or secondary school system. Qualifying persons must serve fulltime as 1) a teacher in a school serving students from low-income families; 2) as a special-education teacher, including teachers of infants, toddlers, children, or youth with disabilities; or 3) as a teacher in the fields of mathematics, science, foreign languages, bilingual education, or in any other field of expertise determined by a state education agency to have a shortage of qualified teachers in that state.<br />Contact: Federal Student Aid Information Center ● 800.433.3243 ● (The Non-Traditional Licensure program fee does not qualify for Perkins loan cancellation).<br />Federal Stafford Loan Forgiveness <br />The program allows eligible borrowers to receive forgiveness for their outstanding student loan balances on FFEL and Direct Loans. It also allows for forbearance of repayment during the 5-year teaching period leading up to forgiveness. Fulltime elementary and secondary teachers in designated low-income schools may receive up to $5,000. Fulltime math, science and special education teachers in designated low-income schools may receive up to $17,500 in loan forgiveness.<br />Contact: Federal Student Aid Information Center ● 800.433.3243 ● (The Non-Traditional Licensure program fee does not qualify for Stafford loan forgiveness).<br />