Teacher Loan Forgiveness/Repayment Programs
     

If you have borrowed a Federal Student Loan that is in good standing (Stafford/Direct/Perkins) and you intend to teach in the K-12 school system full-time, you may qualify for two Loan Forgiveness Programs. The Assumption Programs of Loans for Education (APLE) from the state of California will assume up to $11,000.00 of your debt, with incentives that could increase the assumption to $19,000.00. Visit http://aple.csusuccess.org/scholarship?noCache=270:1196876230 or contact the College of Education at (310) 243-2831 for more information.
     
The Federal Teacher Loan Forgiveness Program offers cancellation of up to $5,000.00 of your Stafford/Direct loan for five years of teaching in a low-income school and up to $17,500.00 if you teach math, science or special education in High School or special education in the Elementary School. To learn more, visit http://studentaid.ed.gov/PORTALSWebApp/students/english/teachercancel.jsp?tab=repaying.
   
While both programs are available, you may not combine them for the same loan amounts (they cannot assume and forgive the same loan).
     
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Last updated Wednesday, December 05, 2007, 5:30pm, by JCM