A Guide to Student Loan Forgiveness for Teachers

Student loans can help you get where you want to go with your education, but paying them back can be a considerable burden. Currently, 30% of undergraduate students and 66% of graduate students take out federal loans. Thankfully, there are many things that students, particularly those who become teachers, can do to help alleviate the stress of student loans.

One of the most important things to do is find other ways to pay for your education. You can also apply for federal Pell Grants to reduce the number of student loans you must take out. Choosing a school like WGU with lower tuition, many scholarship opportunities, and the ability to graduate faster can help you avoid student loans. Be sure your school is accredited and able to offer federal financial aid; WGU provides all types of federal assistance to students.  

WGU is focused on helping students get a degree that is affordable for them. That's why we also have the Responsible Borrowing Initiative, helping students who need to take out student loans be able to pay them back on time. This program has helped WGU graduates leave school with half the debt of other students nationwide. And the ROI for their degree enables them to pay off their loans much faster. We help students understand repayment plan options so they can take control of their loans, don't have to worry about forbearance, and get their loans out of the way faster.

Many people might not know that teachers can utilize their careers to help them get student loan forgiveness. If you're a current or aspiring teacher, it's important to understand your student loan options. Learn more about how this works and how you can qualify. 

Teachers are crucial in every community. Children and youth rely on teachers to help them obtain the skills and knowledge they need to succeed in the future. That's why there are loan forgiveness programs to help incentivize teachers to enter this exciting and influential field. Teachers have various loan forgiveness options and programs designed to help them reduce or eliminate their student loan debt. There are different eligibility requirements for specific programs that can help teachers significantly cut down their loan debt.  

There are three main types of teacher loan forgiveness programs. These three programs include:  

Perkins Teacher Loan Forgiveness is a program designed to assist educators who have taken out loans through the Federal Perkins Loan Program. This program was created to help those who work in low-income schools or special education programs have a portion of their loan debt forgiven. Through Perkins Teacher Loan Forgiveness, teachers may be eligible to have up to 100% of their loan balance forgiven, depending on their years of service. It is important for educators to take advantage of this program to reduce their loan debt and pursue a career they are passionate about at the same time.

To qualify for Perkins loan forgiveness, teachers must work in the field. Teachers must be working full-time in a public or nonprofit elementary or secondary school system as: 

• A teacher serving students from low-income families 
• A special education teacher 
• A teacher in the fields of math, science, foreign languages, bilingual education, or a field determined by your state agency as having a shortage of teachers

Teachers can get a percentage of their federal student loans canceled each year they teach. This is how the percentages break down: 

• 15% canceled per year for the first and second years of service
• 20% canceled for the third and fourth years of service
• 30% canceled for the fifth year of service  

To apply for Perkins teacher loan forgiveness, you must talk to the college or university where you received the loan. The college or university explicitly administers Perkins loans, so you can work with them to establish a loan forgiveness plan.

Public service loan forgiveness (PSLF) is another excellent option for teachers to cut down on their student loans. PSLF is a federal program that aims to relieve the burden of student loan debt for those who have dedicated their careers to public service. Essentially, it allows qualifying individuals to have their remaining federal student loan balances forgiven after making 120 eligible payments on their loans while working for a qualifying employer, such as a government agency or nonprofit organization. You don't have to teach at a low-income or public school or even be a teacher. Public, private, and secondary schools are all acceptable. Teachers, administration, janitors, librarians, and more can also benefit from loan forgiveness. 
To qualify for PSLF, you must meet the following requirements: 

• Be employed by a U.S. federal, state, local, or tribal government or not-for-profit organization 
• Work full-time for that agency or organization 
• Have direct loans (or consolidate other federal student loans into a direct loan) 
• Repay loans under an income-driven repayment plan 
• Make 120 qualifying payments 

This can be a huge relief for those who have chosen to pursue public service careers, which often come with lower salaries relative to the private sector. It's important to note that not all loans or employers qualify for the program, and meeting the requirements can be complex. However, for those who are eligible, PSLF can provide much-needed financial relief and allow them to continue making a positive impact on their communities 

The Teacher Loan Forgiveness Program is an initiative by the U.S. government to encourage eligible teachers to continue teaching in low-income areas. Teachers who are eligible can receive up to $17,500 in loan forgiveness for their direct, subsidized, unsubsidized, and federal Stafford loans.  

To qualify for teacher loan forgiveness, teachers must have worked full-time as highly qualified teachers for five consecutive academic years. They must also work in an elementary school, secondary school, or educational service industry that serves low-income students.  

Highly qualified teachers are classified as: 

• Teachers who have at least a bachelor's degree.
• Teachers who have full state certification as a teaching professional.
• Teachers in a government-recognized charter school who have met all the state's charter school statutes. 

Under exceptional circumstances, teachers may still qualify for teacher loan forgiveness if they have not taught for the entire academic year. Research your state’s specific program options to find out if you’re eligible. 

Before you apply for student loan forgiveness, it's crucial to ensure that you meet all the requirements and qualifications. Teachers qualifying for one of the three reviewed programs can apply for loan forgiveness. There are specific forms for each of the loan forgiveness programs that you will need to fill out. You can view the forms on the Federal Student Aid website. Specific application details are listed there. Some documents must be sent directly to your loan servicer, while others should go to your college or university. Additionally, teachers can seek out state-level programs for loan forgiveness based on the specific state they teach in. 
If you have questions about federal financial aid, contact the WGU office of financial assistance to get help.