A recent blog by the U.S. Department of Education highlighted three federal loan-forgiveness programs available to teachers, in addition to programs available at the state level.
- Public Service Loan Forgiveness – Forgives the remaining balance on Federal Direct Loans after 120 qualifying payments (10 years).
- Teacher Loan Forgiveness – Forgives up to $17,500 of Direct or FFEL Subsidized or Unsubsidized Loans after 5 complete and consecutive years of teaching at a qualifying school.
- Perkins Loan Cancellation – Forgives up to 100% of Federal Perkins Loans for those teaching full-time at a low-income school, or teaching certain subjects.
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