Student loan forgiveness is available for teachers who work full-time in elementary or secondary schools, or educational service agencies, that serve low-income communities could qualify for forgiveness of their student loan debt. To check if your school qualifies, you can visit the Federal Student Aid website.
Teachers must serve at a qualifying school for five consecutive years. Certain teachers can qualify for $5,000 in student loan forgiveness, while others can qualify for $17,500, depending on qualifications.
To qualify for Teacher Loan Forgiveness, borrowers must have started borrowing after October 1, 1998, or must have had no outstanding balance on a Direct or FFEL loan at the time a new Direct or FFEL loan was taken out after October 1, 1998.
Only Stafford loans or the Stafford portions of Consolidation Loans qualify for Teacher Loan Forgiveness. PLUS loans do not qualify.