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Teacher Loan Forgiveness

Learn about the two types of federal loan forgiveness programs for teachers.

If you are a teacher with student loan debt, you may benefit from the federal loan forgiveness programs offered to teachers. Even if education isn’t your chosen career path long-term, working as a teacher may provide you a way to pay down your federal student loans while working in a profession where you can share the gift of knowledge with others. Consider the following programs for teacher loan forgiveness and cancellation.

Teacher Loan Forgiveness Program

Created to encourage people to become teachers, the Teacher Loan Forgiveness Program may allow you to receive forgiveness or cancellation of all or part of your student loans.

If you provide direct classroom teaching or classroom-type teaching outside of a classroom setting, including special education, and teach full-time for five consecutive academic years in a low-income school or educational service agency, you may be eligible for forgiveness of up to $17,500 on your Direct Subsidized and Unsubsidized Loans and your Subsidized and Unsubsidized Federal Stafford Loans. If you have PLUS loans only, you are not eligible for this type of forgiveness.

As a military spouse, you may find it difficult to meet the five complete and consecutive academic year requirement due to permanent change of station moves, so be sure you factor the commitment needed to receive forgiveness into your decision-making process as you determine whether the Teacher Loan Forgiveness Program makes sense for you.

Teacher Cancellation for Federal Perkins Loans

If you have a loan from the Federal Perkins Loan Program, you might be eligible for loan cancellation for full-time teaching at a low-income school or for teaching in certain subject areas. You can also qualify for deferment for these qualifying teaching services. Check with the school that issued your Federal Perkins Loan for more information.

Learn more about both of these programs by visiting the Teacher Loan Forgiveness and Teacher Cancellation page on the Federal Student Aid website. If you have questions about obtaining financial aid, scholarships or any aspect of the education process, call 800-342-9647 to speak to a career coach.

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