Where can I find information about loan forgiveness for teachers?
Question:
Answer:
I am about to have portions of loans forgiven because I've been teaching in a rural (title 1) school for 5 years. I get $5000 forgiven.
People who do science, math, or special education can get $17,500 forgiven (I wish I'd have known that before!).
the application and guidelines are here:
http://www.dlssonline.com/tools/show-pdf...
As far as finding a school that pays for college, You'll need to investigate each school district individually. Generally, the ones I've heard about that do that are city schools.
I would recommend contacting the lender directly to see what circumstances qualify for loan forgiveness. It can be discipline (not usually elem ed though) or teaching at an economically depressed school.
You need to work in a low income district for 5 years. Note: your district has to listed by the federal government as low income - see the website for designated districts.
Some states and school districts also have their own programs.
You can get between $5,000 and $17,500 of your federal student loans forgiven for teaching in specific areas. On the federal student aid website, you can learn more and search for schools that qualify for the benefit.
check out Title 1
schools that are considered title 1 are those with higher rates of poverty and minorities. these are the schools that will get you qualified to have your loans partially forgiven etc. also, teachers teaching math science, ESL/Bilingual in those areas especially qualify.
More Questions & Answers...