Has anyone applied for the loan forgiveness?

Im looking at it, I wouldnt be able to apply til next school year when I would have 5 years teaching, but I am wondering if I would be eligable because I took a year off for child care. It must be 5 consecutive years.

this is what it says...

If you were unable to complete an academic year of teaching, that year may still be counted toward the required five consecutive complete academic years if —
1. You completed at least one-half of the academic year; and
2. Your employer considers you to have fulfilled your contract requirements for the academic year for the purposes of salary increases, tenure, and retirement; and
3. You were unable to complete the academic year because:
• You returned to postsecondary education, on at least a half-time basis, in an area of study directly related to the performance of the teaching service described
above; or
• You had a condition that is covered under the Family and Medical Leave Act of 1993 (FMLA); or
• You were called or ordered to active duty status for more than 30 days as a member of a reserve component of the Armed Forces.
Note that the period of postsecondary education, absence due to a condition covered under the FMLA, or active duty service, including the time needed for you to
resume teaching no later than the beginning of the next regularly scheduled academic year, does not constitute a break in the required five consecutive complete
years of qualifying teaching service.

Message edited 11/11/2011 4:15:04 PM.

Re: Has anyone applied for the loan forgiveness?

I have never heard of this? I graduated in 2000 with my Bachelors and then 2005 with my Masters. Would it apply to me at all? I still have $36000 in loans! I use Sallie Mae. I was looking at it the other day and most of my payments still go to interest!

Re: Has anyone applied for the loan forgiveness?

google loan forgiveness

This is the application I found.
Application

You will be eligable if your school is title 1. There are some other guidelines as well but definetly look into it. I didnt know about it either, my friend just mentioned it to me this week.

They wont forgive the entire loan, but I keep seeing 5,000 and 17,000 I couldnt really understand who gets what.`

Message edited 11/11/2011 6:30:02 PM.

Re: Has anyone applied for the loan forgiveness?

Message edited 11/11/2011 7:32:31 PM.

Re: Has anyone applied for the loan forgiveness?

Re: Has anyone applied for the loan forgiveness?

Re: Has anyone applied for the loan forgiveness?

Posted by fdnywife

Posted by nicrae
It is only for title I schools.

How do I know? I'm in Sayville so I doubt it.

Message edited 11/11/2011 7:34:29 PM.

Re: Has anyone applied for the loan forgiveness?

Posted by nicrae

Posted by fdnywife

Posted by nicrae
It is only for title I schools.

How do I know? I'm in Sayville so I doubt it.

Sorry but I don't think Sayville is a title I schools.

Re: Has anyone applied for the loan forgiveness?

Posted by fdnywife

Posted by nicrae

Posted by fdnywife

Posted by nicrae
It is only for title I schools.

How do I know? I'm in Sayville so I doubt it.

Sorry but I don't think Sayville is a title I schools.

Of course not. Was hoping to catch a break somehow. Oh well.

Re: Has anyone applied for the loan forgiveness?

Re: Has anyone applied for the loan forgiveness?

I applied for this a few years ago. Payed the rest of my loan off. There is a place on the loan forgiveness website that would tell you if your school is a title one school. You need to enter the name of your school. You need to work 5 consecutive years, have a principal sign off on application and I think a letter from a principal or AP stating your duties and that your in good standing.

Math, science and spec. ed get about $17,000 And everyone else $5,000

Re: Has anyone applied for the loan forgiveness?

My friend and I both applied. She was approved and I was denied. Go figure. Same graduation date and worked at the same school for the 5 years.

Re: Has anyone applied for the loan forgiveness?

I'm on year 4 and then I plan on applying.

Re: Has anyone applied for the loan forgiveness?

I had 5 k forgiven from my Perkins loan and I'm not in a title 1 school-theres a list..your school only needs to be on it

Re: Has anyone applied for the loan forgiveness?

Re: Has anyone applied for the loan forgiveness?

Very weird

Re: Has anyone applied for the loan forgiveness?

quick question- I taught for 2 years while going to school. I taught in a title 1 school. Does this count toward my 5 consecutive years? or does it start after my loans were taken out and I graduated?