MU ALERT ISSUED

DOE Loan Forgiveness Programs

Loan-Forgiveness Programs Available to Support Teachers, Aid Recruitment

By Zachary VanHouten

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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