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Colleen C. Davis
State Treasurer

Student Loan Forgiveness for Teachers



Student Loan Forgiveness Webinar for Teachers

Brought to you by the Office of State Treasurer Colleen C. Davis and the Delaware State Education Association

Past Event

May 24, 2022 at 5:30pm – Webinar: Student Loan Forgiveness for Teachers

[Click here to watch the recording.]

Are you burdened by your student loan debt? Do student loan payments take a big bite out of your paycheck? If you’re a teacher, you might be eligible for several programs that offer loan forgiveness, cancellation, or repayment. But if you want relief, you’ll need to educate yourself on the options, find out which programs you’re eligible for, and learn what steps you need to take. Nationally recognized student loan expert Heather Jarvis will explain the different programs available to teachers and what you can do to take advantage of them. Some opportunities are available for a limited time, so you may need to act soon! Join us for the webinar to find out more.

For more information on this event, contact Treasury_StudentLoans@delaware.gov

According to the National Education Association, nearly half of all educators borrowed student loans to pay for college. Many educators struggle to repay these debts, with an average remaining balance of over $58,000 per borrower.

Fortunately, many teachers are eligible for programs that can ease their student loan burden.

Public Service Loan Forgiveness (PSLF)

Public Service Loan Forgiveness (PSLF) is a federal program that allows government & non-profit employees, including most full-time teachers, to erase their federal student loans after 10 years of making loan payments while employed in public service. However, until now, the program has had very strict rules about eligible loans and payments. Many borrowers are unaware of these rules, and as a result, they lose out on getting credit for years of public service and loan payments.

But FOR A LIMITED TIME, the federal Department of Education has loosened the rules through a “Limited Waiver,” and many borrowers have an opportunity to count their prior service and payments toward loan forgiveness. For more information visit our PSLF page and watch the videos from our past PSLF webinar and Q&A Session.

Teacher Loan Forgiveness (TLF)

Teacher Loan Forgiveness (TLF) provides up to $17,500 in student loan forgiveness to highly qualified teachers who work full-time for 5 years in a low-income school or educational service agency. There are eligibility requirements, and the program is only applicable to certain types of student loans. To learn more, visit https://studentaid.gov/manage-loans/forgiveness-cancellation/teacher.

Perkins Loan Cancellation for Teachers

Some teachers with Federal Perkins Loans may be eligible to have those loans cancelled. Teachers may be eligible to have the loans partially or completely cancelled, depending on the duration of their service. Eligible teachers include teachers at low-income schools, special education teachers, and teachers in fields where there is a shortage of qualified teachers. Other eligibility requirements apply. For more information, visit https://studentaid.gov/manage-loans/forgiveness-cancellation/perkins.

High Needs Educator Student Loan Payment Program

The State of Delaware offers up to $2,000 per year in student loan repayments to eligible teachers who work in a high-needs school, or who teach a high-needs subject area. Eligibility requirements apply and funding is limited. For more information, visit http://de.gov/LoanRepay.

 

About Heather Jarvis

Heather JarvisHeather Jarvis is widely known for her depth of knowledge and accessible teaching style. She has provided student loan education and consultation for universities, associations, and professional advisors since 2005. Heather graduated cum laude from Duke University School of Law in 1998 and dedicates her professional efforts advocating on behalf of high-debt student loan borrowers. Heather contributes to student debt relief policy for the House Education Committee and others in Congress and recently completed service on the American Bar Association Task Force on Financing Legal Education.

 

Heather Title

 

 

More Resources

Webinar Video

Public Service Loan Forgiveness (PSLF)

Teacher Loan Forgiveness (TLF)

Perkins Loan Teacher Cancellation

High Needs Educator Student Loan Payment Program

  • For information on the High Needs Educator Student Loan Repayment Program, including the list of high-needs subject areas, visit www.doe.k12.de.us/Page/3846
  • To view the list of high-needs schools in Delaware, visit www.doe.k12.de.us/domain/630.
  • If you have further questions about the High Needs Educator Student Loan Repayment Program, contact the Delaware Higher Education Office at 302-735-4120 or dheo@doe.k12.de.us.

General Resources





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