DOE Loan Forgiveness Programs

Loan-Forgiveness Programs Available to Support Teachers, Aid Recruitment

By Zachary VanHouten

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.