Teacher Loan Forgiveness in Texas

Teacher Loan Forgiveness in Texas: How to Apply for One

Teacher Loan Forgiveness in Texas: It’s never easy to pay off debt as a teacher. Texas recognizes this need and wants to keep teachers active and flourishing in the community. To help keep qualified educators, the state offers several teacher loan forgiveness programs.

Teacher Loan Forgiveness in Texas

You may be eligible for student loan forgiveness in Texas if you are teaching in a low-income school and/or in a high-needed subject area. Continue reading to learn more about the conditions for eligibility and how to qualify for these benefits.

Who Qualifies for Teacher Student Loan Forgiveness

Teachers new to the profession and those already developed in their careers are both eligible in Texas for opportunities for loan forgiveness. Such options may include partial loan forgiveness, interest support, or payment deferments, depending on the type of student loan teachers have.

For order to qualify, https://suntrustblog.com/Teacher Loan Forgiveness in Texas: How to Apply for One/ at low-income schools or teach one of the subjects on the list of areas of shortage from the Texas Education Agency. This list is produced annually and includes the following high-needed subject areas as of the 2015-2016 school year:

  • Bilingual Education/English as a Second Language (ESL)
  • Special Education
  • Science
  • Computer Science
  • Technical/Career Education
  • Math

How to Apply for Loan Forgiveness Programs

Individuals who meet the above qualifications can start the loan forgiveness process by first contacting their lender to determine what type of loan they have.

The lender will be able to determine whether that type of loan applies for loan forgiveness or deferment, and they should be able to provide the necessary forms to apply for one of the loan forgiveness programs below.

Top programs for teacher loan forgiveness in Texas

Federal student loan forgiveness options are available for teachers regardless of where you live in the U.S.. But Texas, in particular, offers additional state-specific student loan forgiveness programs for teachers.

1. Teach for Texas Loan Repayment Assistance Program

The Teach for Texas Loan Repayment Assistance Program is designed to keep teachers in teacher shortage areas. Every year, the Texas Education Association releases a study identifying these regions.

You may be awarded a maximum of $5,000 per school year under this plan. You may apply for this five-year annual teacher loan forgiveness. Instead, when teaching in Texas, you will earn a bonus of $20,000 over that time.

In order to qualify, you must:

  • Be certified in a shortage teaching field and/OR be teaching in a shortage of teachers location
  • Be teaching full time at the time of application

You can complete this teacher loan forgiveness application yearly. Priority falls to renewals. The state budget is limited, so applications for new teachers are accepted only periodically. Applications have an early deadline in June.

2. Math and Science Scholars Loan Repayment Program

Texas wants to attract highly qualified teachers of mathematics and science to their public schools. These are teachers who showed competence in college as majors in science and mathematics.

The Texas Math and Science Scholars Loan Repayment Program Scholars is currently offering a maximum annual repayment of $5,000. The plan relies on the availability of funds and is subject to annual adjustments to the amount forgiven. Over eight years you are required to teach, four of which must be in a public school under Title 1 in Texas.

In order to qualify, you must:

  • Complete an undergraduate program in mathematics or science with at least a 3.5 GPA on the 4 point scale.
  • Become a certified teacher under Texas Education Code.
  • Be a full-time teacher at a Title 1 Texas Public School in Science or Mathematics. For this program, you must teach at least four hours per day to qualify as full time.
  • You can’t have received any other repayment assistance on your loans including grants like TEACH or teacher loan forgiveness.

You must submit this teacher loan forgiveness application annually for consideration. The deadline is before the start of the school year (typically before the end of August)

Federal student loan forgiveness for teachers in Texas

Federal student loan forgiveness for teachers in Texas

Teacher loan forgiveness in Texas isn’t limited to state programs. Federal student loan forgiveness is one of the best options for teachers. Depending on the forgiveness program, you can have anywhere from $5,000 to your entire loan principal forgiven.

3. Teacher Loan Forgiveness Program

The Teacher Loan Forgiveness Program is an incentive to work in low-income schools for highly qualified teachers. You will apply for $17,500 in student loan forgiveness if you teach special education, engineering, or a science-related field of study. You can apply for $5,000 of student loan forgiveness if you teach any other subject.

In order to qualify, you must:

  • Be a highly qualified teacher
  • Work full time as a teacher for five years
  • Be employed at a low-income school for at least one year out of those five years
  • Student loan accounts must be in good standing
  • Have loans disbursed after 1998

After five consecutive years of service, you can only submit this application.

Any approved leave that you take during this time does not take away from your service for five years. At least, so long as your superior decides you fulfilled your contract. For example, this might include maternity leave or short term disability leave, depending on your school district.

4. Public Service Loan Forgiveness

Public Student Loan Forgiveness (PSLF) offers student loan relief for teachers, public service professionals and those working for a nonprofit 501(c). This program can forgive all qualifying Federal Direct Loans.

To be eligible, you must:

  • Work full time for a qualifying agency
  • Have qualifying loans (Direct Federal Student Loans)
  • Make 120 qualifying payments
  • Be on an income-driven repayment plan

You can submit your initial PSLF Application for Forgiveness at any time. Once you’re approved, you must submit an Employment Certification Form yearly. This will help ensure you’re still in line to receive forgiveness.

5. Federal Perkins Loan Cancellation

Federal Perkins loans are no longer being issued, so this is just an option if you already have this kind of loan. The plan makes it possible to cancel all or some of your loans on an annual basis.

The cancellation of Perkins Loan Teacher is focused on your daily duties, not your actual job title.

In order to qualify, you must:

  • Teach at a school serving a low-income population (all special education teachers are eligible for this program)
  • Teach in a field that’s considered having a shortage by the state such as mathematics or bilingual teachers

Over five years, you can have up to 100% of your loans canceled. Send a cancellation form every year at the beginning of the year and the end of the year. To apply, you will contact the application and information of your school or student loan service provider. You will be notified if your student loans need to be canceled or discharged.

Double up on teacher loan forgiveness, only if you can

Double up on teacher loan forgiveness, only if you can

Many of these systems of teacher redemption can not overlap, but they can stack. You may not be able to simultaneously seek forgiveness from them. But if properly ordered, if appropriate, you can take advantage of more than one system.

Consult your loan service provider when you try to decide which option(s) is right for you. We will inform you on the basis of your particular situation.

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