Check Out Student Loan Forgiveness Programs

In recent years there have been a number of student loan forgiveness programs available, and some of our staff members have been able to take advantage of them. We wanted to make some of these programs known to employees, as you might be eligible and not even know! 

Because each loan forgiveness program is specific to the types of student loans you may have, the content area of your degree, as well as how long you’ve worked in your field or carried your loan, we can’t tell you if you’re eligible or not; however, feel free to explore the links below to learn more. And if you know of another loan forgiveness program that we’ve left off this list, let the Human Resources Department know! 

Public Service Loan Forgiveness (PSLF) Program 
The PSLF Program is intended to encourage individuals to enter and continue to work full-time in public service jobs. Under this program, borrowers may qualify for forgiveness of the remaining balance of their Direct Loans after they have made 120 qualifying payments on those loans while employed full-time by certain public service employers. 

Iowa Teacher Loan Forgiveness Program 
The State of Iowa offers loan repayment assistance to Iowa educators who are teaching in a shortage subject area, as designated by the Iowa Department of Education. Iowa teacher shortage areas are designated annually. Special Education has been identified as a shortage area. 

Teacher Loan Forgiveness Program 
The Teacher Loan Forgiveness Program is intended to encourage individuals to enter and continue in the teaching profession. Under this program, if you teach full-time for five complete and consecutive academic years in certain elementary and secondary schools and educational service agencies that serve low-income families, and meet other qualifications, you may be eligible for forgiveness of up to a combined total of $17,500 on your Direct Subsidized and Unsubsidized Loans and your Subsidized and Unsubsidized Federal Stafford Loans. If you have PLUS loans only, you are not eligible for this type of forgiveness. 

Teacher Cancellation 
If you have a loan from the Federal Perkins Loan Program you might be eligible for loan cancellation for full-time teaching at a low-income school, or for teaching in certain subject areas. You can also qualify for deferment for these qualifying teaching services. Check with the school that made your Federal Perkins Loan for more information.