Teacher Loan Forgiveness

:: Teacher Loan Forgiveness (TLF) Program ::

Teacher Loan Forgiveness brochure

The Teacher Loan Forgiveness (TLF) Program was created to encourage individuals to turn into educators inside designated faculties that serve low-income households. Teachers with Stafford loans might qualify for loan forgiveness in the event that they meet this system’s particular eligibility necessities.

Use our Teacher Loan Forgiveness guidelines PDF  as a information that can assist you decide your eligibility. If you may reply sure to the entire eligibility necessities listed, you could qualify for some degree Stafford loan forgiveness. Download our Teacher Loan Forgiveness Program brochure PDF to seek out out extra.

Common Questions about TLF

Who do I contact if I’ve questions?

If you may have any questions concerning the Teacher Loan Forgiveness Program, contact Jaime Shelton at 405.234.4281 or by electronic mail at [email protected]

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What loans are eligible for forgiveness?

Subsidized and unsubsidized Stafford loans from the FFELP and/or the William D. Ford Federal Direct Loan Program are eligible. The portion of a consolidation loan that paid off an eligible Stafford loan may additionally be eligible for forgiveness.

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Is my Federal Perkins loan eligible for forgiveness?

Federal Perkins loans could also be eligible for full loan cancellation after educating for 5 years in a delegated low-income college or in a subject-matter scarcity space. Please notice that cancellation advantages shall be misplaced should you consolidate your Perkins loan. Contact your college or go to the Federal Perkins Loan Teacher Cancellation web page for extra info.

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Is my consolidation loan eligible for forgiveness?

It relies upon. To be eligible for forgiveness, you should be thought of a brand new borrower. Consolidation loans aren’t thought of new loans and do not qualify you as a brand new borrower. You’re thought of a brand new borrower should you received your loan after Oct. 1, 1998, and did not have an excellent steadiness on a Stafford or Direct loan whenever you received your loan. Only the portion of your consolidation loan that paid off an eligible Stafford loan could also be eligible for forgiveness.

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What if I received my loans earlier than Oct. 1, 1998?

If you had a federal student loan earlier than Oct. 1, 1998, you should have repaid all loans earlier than receiving new loans on or after Oct. 1, 1998. Congress did not embody provisions within the Teacher Loan Forgiveness Program laws to incorporate forgiveness for loans acquired earlier than Oct. 1, 1998.

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Are trainer’s aides eligible for this system?

The program is just out there for full-time lecturers, which does not embody trainer’s aides.

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Does my 5 years of service need to be on the identical college?

No. Your 5 years of qualifying educating service could also be in several eligible low–earnings faculties. If your 5 years of service wasn’t on the identical college, you should full a separate utility for every college. The particular identify of the college should be listed. You can entry the Annual Directory of Designated Low-Income Schools for Teacher Cancellation Benefits to seek out out in case your college is taken into account a low-income college.

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What if I’ve had an interruption in my 5 years of educating service?

There are some cases that are not thought of an interruption within the requirement of 5 full, consecutive years of educating service.

  • You should have taught at the least half of an instructional time period
  • The college district should have thought of your contract fulfilled for the needs of wage will increase, tenure and retirement
  • AND you should be capable to reply sure to one of many following exceptions:
    • You returned to post-secondary training on at the least a half-time foundation in a program instantly associated to the efficiency of educating service required for forgiveness.
    • You had a situation coated below the Family and Medical Leave Act of 1993 (FMLA).
    • You acquired an order to energetic obligation standing for greater than 30 days as a member of a reserve part of the Armed Force.
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What if my college is not designated as a low-income college?

If the college was designated as a qualifying low-income college whenever you started employment, all subsequent years proceed to qualify even when the college would not at present meet the factors.

If you are initially employed by a faculty that does not meet the factors and the college later qualifies, your 5 years of qualifying service begins when the college meets the eligibility standards.

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Are faculties operated by the Bureau of Indian Affairs (BIA) low-income faculties?

Yes. Schools operated by the BIA are thought of low-income faculties for trainer loan forgiveness functions.

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What are the subsequent steps if I’m eligible?

If you meet the eligibility necessities for trainer loan forgiveness, the subsequent step is to finish the Teacher Loan Forgiveness Application PDF. You and the chief administrative officer of the college the place you carried out your qualifying educating service should full the shape. Once the shape is full, you may have to ship it to your lender.

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Who’s the chief administrative officer?

The chief administrative officer (CAO) is the official at your college (such because the principal, assistant principal or superintendent) who’s answerable for supervising your employment as a trainer. The CAO additionally has entry to information regarding your expertise and {qualifications} for educating. They should certify on the applying that your educating service met necessities for loan forgiveness for all 5 years.

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How do I understand how a lot I’m eligible for?

The complete quantity of loan forgiveness you could be eligible for is dependent upon when your interval of educating service started, your {qualifications} and the kind of educating service you carried out. You might not get greater than the utmost loan forgiveness quantity allowed for a similar educating service for each Stafford and Direct loans.

There are totally different necessities for $5,000 in loan forgiveness and for the utmost $17,500 in loan forgiveness.

$5,000 in loan forgiveness

You might qualify for as much as $5,000 in advantages in your certified educating service if:

  • Your service started on or after Oct. 30, 2004, and also you had been a extremely certified full-time elementary or secondary college trainer.
  • Your service started earlier than Oct. 30, 2004, and also you had been:
    • A full-time elementary college trainer who demonstrated information and educating abilities in studying, writing, arithmetic and different areas of elementary college curriculum; OR
    • A full-time secondary college trainer who taught in a topic space related to your educational main.

$17,500 in loan forgiveness

You might qualify for as much as $17,500 in your certified educating service should you served as:

  • A extremely certified full-time arithmetic or science trainer in an eligible secondary college OR
  • A extremely certified particular training trainer whose main duty was to supply particular training to kids with disabilities. In addition, you should have taught kids with disabilities that corresponded to your space of particular training coaching, and demonstrated information and educating abilities within the content material areas of the curriculum you had been educating.

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How will the loan forgiveness fee be utilized?

Unless you instruct in any other case, your loan servicerloan servicerloan servicer will apply the fee acquired first to any excellent unsubsidized Stafford loan balances, then to any excellent sponsored Stafford loan balances and eventually to any eligible excellent consolidation loan balances.

You’re not eligible for refunds on funds already made in your loan.

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If I do not qualify now however anticipate to later, can I cease making funds on my loan?

You should make your common month-to-month funds in your loan through the 5 years of educating service. However, when the loan steadiness nears the profit quantity you qualify for, you could request a forbearance in annual increments throughout every of the years through which you carry out your qualifying educating service. A Teacher Loan Forgiveness Forbearance kind PDF will should be accomplished and submitted to your loan servicer.

Your loan servicer is required to grant this forbearance provided that they imagine the utmost forgiveness quantity you are looking for can pay your loan steadiness in full on the finish of your qualifying educating service.

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What are some phrases I ought to know?

Academic yr is:

  • One full college yr on the identical college, or
  • Two full and consecutive half-years* at totally different faculties, or
  • Two full and consecutive half-years* from totally different college years, at both the identical college or totally different faculties.
  • A minimal of 9 months for faculties working in a year-round program of instruction.

*Half-years exclude summer time and usually fall inside a 12-month interval.

Chief administrative officer is the official in your college (such because the principal or assistant principal) who’s answerable for supervising your employment as a trainer and who has entry to information regarding your expertise and {qualifications} for educating.

Elementary college is a public or nonprofit non-public college that gives elementary training as decided by state legislation or the U.S. Department of Education if that college is not in a state.

Full-time means the usual utilized by a state in defining full-time employment as a trainer. If you educate in multiple college, full-time relies on the mix of your whole qualifying employment.

Forgiveness signifies that you are not answerable for repaying half or the entire loan, together with curiosity, after getting carried out qualifying educating service.

Forgiveness forbearance means suspending loan funds till qualifying educating service has been carried out, if the utmost forgiveness quantity will fulfill the anticipated excellent steadiness.

Highly certified trainer is a trainer in a public or nonprofit elementary or secondary college who has obtained a full state certification as a trainer (together with certification obtained by means of different routes to certification) or handed the state trainer licensing examination and holds a license to show in that state, besides that, when used with respect to educating in a public constitution college. The time period “charter school” signifies that the trainer meets the necessities set forth within the state’s public constitution college legislation and has not had certification or licensure necessities waived on an emergency, non permanent or provisional foundation. In addition, the trainer should be one of many following:

  • An elementary college trainer who’s new to the educating career, holds a bachelor’s diploma, and has demonstrated topic information and educating abilities in studying, writing, arithmetic and different areas of fundamental elementary college curriculum (which can include passing state-required certification or licensing take a look at(s) in studying, writing, arithmetic and different areas of the essential elementary college curriculum).
  • A center or secondary college trainer who’s new to the career, holds a bachelor’s diploma, and has demonstrated a excessive degree of competency in every of the their educational topics (which can include passing a state-required certification or licensing take a look at(s) in every of the educational topics taught), or by efficiently finishing an instructional main, graduate diploma, coursework equal to an undergraduate diploma or superior certification/credentialing in every of the educational topics being taught.
  • An elementary, center or secondary college trainer who is not new to the career, holds at the least a bachelor’s diploma, and meets the relevant requirements of an elementary, center or secondary college trainer who’s new to the career, or demonstrates competence in all educational topics being taught based mostly on a excessive goal uniform state commonplace of analysis that meets the entire following standards:
    • Is set by the state for each grade applicable educational material information and educating abilities.
    • Is aligned with difficult state educational content material and student educational achievement requirements, and developed in session with core content material specialists, lecturers, principals and faculty directors.
    • Provides goal, coherent details about the trainer’s attainment of core content material information within the educational topics being taught.
    • Is utilized uniformly to all lecturers in the identical educational topic and the identical grade degree all through the state.
    • Takes into consideration, however not based mostly totally on, the time the trainer has been educating within the educational topic.
    • Is made out there to the general public upon request.
    • May contain a number of, goal measures of trainer competency.
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Loans which are eligible for forgiveness are federal Stafford loans (sponsored and unsubsidized) and any portion of a federal consolidation loan that was used to repay an eligible Stafford loan.

Secondary college is a public or nonprofit non-public college that gives secondary training as decided by state legislation or the U.S. Department of Education if the college will not be within the state.

Special training means specifically designed instruction to satisfy the distinctive wants of a kid with a incapacity, for free of charge to folks, together with instruction carried out within the classroom, within the residence, in hospitals and establishments, in addition to instruction in bodily training, i.e., bodily remedy.

Teacher means an individual who offers direct classroom educating or classroom-type educating in a non-classroom setting, together with particular training lecturers.

Qualifying college is an elementary or secondary college operated by the Bureau of Indian Affairs (BIA) or operated on an Indian reservation by an Indian tribal group below contract with the BIA, or a faculty that meets the entire following standards:

  • Is in a faculty district that qualifies for funds below Title I of the Elementary and Secondary Education Act of 1965, as amended.
  • Has been chosen by the U. S. Department of Education based mostly on a dedication that greater than 30 % of the college’s complete enrollment is made up of youngsters who qualify for service supplied below Title I.
  • Is listed within the Annual Directory of Designated Low-Income Schools for Teacher Cancellation Benefits.

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Where can I discover extra details about this system?

More particulars concerning the Teacher Loan Forgiveness Program will be discovered on the U. S. Department of Education’s web site.

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Are there different trainer loan forgiveness applications?

  • The Teacher Shortage Employment Incentive Program (TSEIP) is a legislative program that reimburses lecturers for eligible student loan bills or pays an equal money profit to people who graduate from an Oklahoma accredited trainer training program, obtain educating certification in arithmetic or science and agree to show in an Oklahoma public secondary college for at the least 5 years. Visit CashForTeachingOK.org for extra info.
  • The Financial Reimbursement for Educational Expenses Act (FREEA) of 2007 authorizes state companies to make loan repayments on behalf of state staff, as much as $5,000 per yr with a cumulative restrict of $15,000. The repayments are discretionary for the companies. There are sure situations and required continued employment provisions apply. Ask your company in the event that they take part. You can view the total textual content of the FREAA quotation on-line (click on on ‘Next Section’ hyperlink within the crimson header to view all of the textual content).
  • The American Federation of Teachers maintains an inventory of different forgiveness applications for student loans.

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