Stafford Teacher Loan Forgiveness

Dear Kaitlyn:

There is a Teacher Loan Forgiveness program (TLF) for Stafford loans for which you may be eligible. The program pays a maximum of $5,000 or $17,500 depending on the area of teaching you are employed.

To be potentially eligible, you must meet the following criteria:
—Have not taken loans prior to October, 1998
—Be teaching full time for five consecutive years in a public or non–profit elementary or secondary school
—For your area of teaching (special education), be defined as "highly qualified" which usually means having full state certification.

If you think you may be eligible for this program, you should contact your loan holder to request an application. Note that it may be possible to put your loans on hold while you matriculate through your teaching requirement, but as interest will continue to accrue, you may want to continue to make payments during this time.

Regards,
Betsy