To send your teacher loan forgiveness application for the federal program, you'll want to submit it to the U.S. Department of Education.
The Federal Student Aid office is responsible for processing your application, so make sure to address it to them.
How to Apply
To apply for teacher loan forgiveness, you'll need to submit a completed application to your loan servicer. The chief administrative officer of the school or educational service agency where you performed your qualifying teaching service must complete the certification section.
You'll need to submit a separate form to each loan servicer if you have loans with different servicers. This means you'll have to fill out multiple applications, but it's a necessary step to ensure you're eligible for forgiveness.
It's a good idea to request a forbearance if you think the loan forgiveness will pay off your loan in full, as you'll continue to be due for payments during the processing time. This can take up to 90 days or more.
Here's a quick rundown of the steps to follow:
- Submit the application to your loan servicer
- Get the chief administrative officer to sign the certification section
- If you have loans with different servicers, submit a separate form to each one
By following these steps, you'll be well on your way to applying for teacher loan forgiveness and potentially having thousands of dollars wiped off your debt.
Forgiveness Details
Public Service Loan Forgiveness (PSLF) is a great option for teachers who work in public service jobs. The PSLF program forgives the remaining balance on your loans after you make 120 qualifying payments.
To qualify for PSLF, you must work in a public service job, such as a teacher, for the entire 10-year period. This means you must be employed by a government agency, a 501(c)(3) non-profit organization, or a school district.
Direct Consolidation Loans are not eligible for PSLF, but you can consolidate your loans into a Direct Loan to become eligible. This can be a good option if you have multiple loans with different interest rates.
You must also make 120 qualifying payments on your Direct Loan to be eligible for PSLF. These payments must be made while you're working in a public service job.
Frequently Asked Questions
Where do I submit my application for student loan forgiveness?
To submit your application for student loan forgiveness, you can fax your form to 540-212-2415 or upload it through StudentAid.gov after logging in to your account.
How long does it take to process a teacher loan forgiveness application?
Processing a teacher loan forgiveness application typically takes 2-3 months. You'll be notified once a decision is made.
Where do I mail PSLF forms?
Mail the PSLF form to U.S. Department of Education, MOHELA, 633 Spirit Drive, Chesterfield, MO 63005-1243. Alternatively, you can upload the form on the MOHELA website if you're already a servicer.
Sources
- https://tea.texas.gov/texas-educators/educator-initiatives-and-performance/federal-teacher-loan-forgiveness-program
- https://www.businessinsider.com/personal-finance/student-loans/teacher-student-loan-forgiveness
- https://www.cde.state.co.us/fedprograms/loanforgiveness
- https://freestudentloanadvice.org/loan-forgiveness/teacher-loan-forgiveness/
- https://www.hesc.ny.gov/find-aid-you-need/new-york-state-loan-forgiveness-programs/nys-teacher-loan-forgiveness-program
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