Department Clarifies Criteria for Increased Teacher-Loan-Forgiveness Amounts

The U.S. Department of Education recently published clarification regarding the five years of teaching service necessary for eligibility for increased teacher-loan forgiveness as a highly qualified teacher. Teachers interested in applying for the increased loan-forgiveness amount of $17,500 must begin their qualifying teaching period on or after Jan. 8, 2002 — the date the No Child Left Behind Act was signed into law. Financial-aid administrators can direct their students to the updated Teacher Loan Forgiveness page on the USA Funds Web site for more information about qualification criteria. In addition, financial-aid administrators can find more details about teacher-loan forgiveness from a list of commonly asked questions and answers posted on the National Council of Higher Education Loan Program’s Web site.