Federal Loan Cancellation for Teachers
To qualify for up to $5,000 loan forgiveness under this program, you must not have had an outstanding balance on a loan as of October 1, 1998. To qualify for the increased amount of loan forgiveness up to $17,500 available for certain mathematics, science and special education teachers, you must not have had an outstanding balance on a loan as of October 1, 1998 or on the date that you obtained a loan after October 1, 1998.
To qualify, you must have been employed as a full-time teacher for five consecutive complete academic years in an elementary or secondary school that has been designated as a "low-income" school by the U.S. Department of Education.
For complete information about this program, contact the Direct Loan Servicing Center at 888-877-7658 or visit the Federal Student Aid website.
Nursing Education Loan Repayment Program
The Nursing Education Loan Repayment Program (NELRP) offers registered nurses substantial assistance to repay educational loans in exchange for service in eligible facilities located in areas experiencing a shortage of nurses. Authorized by Section 846 of the Public Health Service Act, as amended, the purpose of the NELRP is to assist in the recruitment and retention of professional nurses dedicated to providing health care to underserved populations.
