Federal Student Consolidation – Teacher Loan Forgiveness

Must Read

Touch and Gestures

In most cases, your application will use events exposed by the UI controls to detect user input, such as...

The Structure of the Tailspin Surveys client Application

Figure 2 shows the structure of the Tailspin Surveys mobile client application in more detail. For clarity, the diagram...

Windwos Phone Content Processing

The architecture and flow of content processing Content processing is a special module in Windows Phone 7 Game Programming. It...

Determining The Best Time For a Home Mortgage Refinance

A home mortgage refinance may just be the best financial decision you can make. However, refinancing is not for...

Home Mortgage Refinance Loan Brokers

Home mortgage refinance is the process of taking a mortgage on the same property which was used as collateral...

Does Citibank Offer Unsecured Debt Consolidation Loans?

This is question that a few people have been asking recently and the truth is most financial institutions offer...

If you have taken out federal student loans under the Direct loans programs, you may be interested to know that there are special programs available for people who enter particular fields.The federal government tries to encourage growth in professions that benefit society by offering benefits to students of education and medical programs. The Federal Teacher Loan Forgiveness Program is one such benefit within the US Department of Education’s framework. A portion of the loans you take out to complete your education can be forgiven. This even works with some consolidation student loan programs.About the ProgramThe program is designed to encourage education students (who intend to become teachers) to stay in the teaching profession. Once you have taught full time for five academic years in selected elementary or secondary schools (usually depressed or rural areas), you become eligible to have a minimum of $5,000 and up to $17,500 of your student loans forgiven. This includes your federal student loans and federal consolidation student loans.Qualifying
To qualify for a t eacher loan the following must occur:
The principal or assistant principal (who handles administrative services and supervises teachers) has to certify that you meet the requirements in terms of time period teaching and subject matter.
You have to teach math, science, special education or teach students with disabilities full time for 5 consecutive years at a primary or secondary school, even if you change schools, after October 1, 1998.
The school has to be on a list held by the US Department of Education as eligible for the teacher loan forgiveness program. It must be a public or non-profit private school.
The loans have to be Federal Stafford, Direct, Ford or part of a consolidation student loan that included any of these types of loans.
The qualifying loan has to have been made prior to your fifth year teaching.
Keep in Mind
You cannot be a school librarian or guidance counselor.
You cannot have defaulted on your student loans or consolidation student loans.
You are responsible for repaying the balance.
Payments made will not be refunded.


Please enter your comment!
Please enter your name here

Latest News

Digital Marketing for Beginners

Digital marketing for starter, Let to basic learning about connecting with your audience in the right place...

What are 7 things poor people do that the rich don’t?

1. poor people watch TV in which people read books how many hours you spend in front of the TV and when...

Top 18 best small business ideas for beginners starting

A small business can be frightening and requires plenty of careful planning there are many small business ideas which can be beneficial...

Summer that makes you happy

We saw were already here I've been thinking about some of the things. I used to do with my husband even though...

4 Point to helpful tips specifically for caregivers

What you need to take a vacation. I know it sounds impossible creative and try to make it work for you almost...

More Articles Like This