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Contributor
Posts: 107
Registered: ‎10-26-2007
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The Teacher Loan Forgiveness Program paid off my entire loan!

I can hardly believe it. When I applied back in June I expected to maybe get 1k paid off because of the current economy. However, I received a letter in the mail yesterday from Sallie Mae congratulating me on my loan forgiveness approval. In total they paid off $17,160. This news comes at a great time because I will be closing on my brand new home in a few weeks.  
Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007
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Re: The Teacher Loan Forgiveness Program paid off my entire loan!

that is awesome-
 
thank you for being a teacher
Established Member
Posts: 30
Registered: ‎05-26-2007
0

Re: The Teacher Loan Forgiveness Program paid off my entire loan!

*leaps up and cheers wildly* My mum is praying they pay hers off in full. She's an inner city junior high math teacher working on her Master's.
Regular Contributor
Posts: 184
Registered: ‎03-04-2008
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Re: The Teacher Loan Forgiveness Program paid off my entire loan!

Congrats! I had 20K out of 60K forgiven when I agreed to work in the Substance abuse field out of grad school (Clinical Social Work)  at an inner city agency. I could have had all of it forgiven if I stayed 2 years longer, but I moved into a higher paying position. It's a great program. I'm surprised how many folks don't know about it.
 
Again, Big congrats. It must be a great feeling!!Smiley Happy
New Member
Posts: 5
Registered: ‎09-06-2008
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Re: The Teacher Loan Forgiveness Program paid off my entire loan!

Wow,congrats!  That's amazing!  What kind of programs do they have that offer loan forgiveness? Do you have to teach in a public school?
Senior Contributor
Posts: 3,240
Registered: ‎04-03-2008
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Re: The Teacher Loan Forgiveness Program paid off my entire loan!

According to the Federal Student Loan folks at
http://studentaid.ed.gov/PORTALSWebApp/students/english/teachercancel.jsp

SOME teachers can get their loans forgiven -- they must either teach at low-income schools or be qualified to teach subjects in which there is a shortage of teachers.
TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it
Contributor
Posts: 107
Registered: ‎10-26-2007
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Re: The Teacher Loan Forgiveness Program paid off my entire loan!



MattH wrote:
According to the Federal Student Loan folks at
http://studentaid.ed.gov/PORTALSWebApp/students/english/teachercancel.jsp

SOME teachers can get their loans forgiven -- they must either teach at low-income schools or be qualified to teach subjects in which there is a shortage of teachers.

That's exactly how I qualified. I teach at a school where over 90% of the student population is on free or reduce lunch and I am a special needs teacher.
Senior Contributor
Posts: 3,240
Registered: ‎04-03-2008
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Re: The Teacher Loan Forgiveness Program paid off my entire loan!



ladylpk74 wrote:


MattH wrote:
According to the Federal Student Loan folks at
http://studentaid.ed.gov/PORTALSWebApp/students/english/teachercancel.jsp

SOME teachers can get their loans forgiven -- they must either teach at low-income schools or be qualified to teach subjects in which there is a shortage of teachers.

That's exactly how I qualified. I teach at a school where over 90% of the student population is on free or reduce lunch and I am a special needs teacher.





Sounds like you earned every cent of the forgiven loan balance! I paid mine off out of my own pocket, but since I work in the corporate world I could afford to so I'm hardly complaining.
TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it
Frequent Contributor
Posts: 252
Registered: ‎08-23-2008
0

Re: The Teacher Loan Forgiveness Program paid off my entire loan!

God bless you!  I have a special needs child, well he's not really a child anymore (by age) Smiley Happy


ladylpk74 wrote:

That's exactly how I qualified. I teach at a school where over 90% of the student population is on free or reduce lunch and I am a special needs teacher.


Myfico scores as of 11/12/08 TU 750 EX 722

MyFico scores as of 9/20/08 TU 638 EX 663 EQ 691
Regular Contributor
Posts: 106
Registered: ‎05-28-2008
0

Re: The Teacher Loan Forgiveness Program paid off my entire loan!

Oh, wow!! I wonder if I can get any forgiven. I al getting perkins forgiven, but I have $46,000 in stafford that I would love to have any help with. I am going to try for the new plan and pay 10 years to get the rest forgiven, but I would like some done now if possible. I teach in a low income public school, too. How do I go about this?
1/18/08 EQ 570 TU 602 EX 562
9/14/09 EQ 622 TU 627 EX 623
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