What is the TCLI directory?
The TCLI Directory is a list of schools and educational service agencies that serve low-income families and is used to determine the eligibility of teachers for loan cancellation under the Federal Perkins Loan (Perkins Loan) Program, and loan forgiveness under the Federal Family Education Loan (FFEL) Program and the …
How do I know if I have Perkins loans?
The longest repayment term for Perkins loans is 10 years. If you’re not sure if you have a Perkins loan, you can learn more about what type of loan you have through the U.S. Department of Education’s Federal Student Aid website. Through this website you can access information about your federal student loans.
Is nelnet a federal or private loan?
Nelnet is a federal student loan servicer working on behalf of the U.S. Department of Education, the government agency that lends you or your child student loans.
Is FFEL a federal loan?
FFELP student loans are federally backed loans that were originally funded by private companies. The FFEL Program ended with the 2009-2010 academic year to make way for Direct loans and some were purchased by the federal government. There are two types of FFELP loans: Commercially-owned and Education Department-owned.
Are charter school teachers eligible for loan forgiveness?
A charter school qualifies for the Public Service Loan Forgiveness program if it is a qualified employer. A qualified employer for the purposes of the PSLF program is an employer that’s either a government (e.g., a public charter school) or a nonprofit entity (e.g., 501 (c) (3) private school).
How to qualify for Teacher Loan forgiveness?
You must teach in a qualifying organization (elementary school,secondary school,or educational service agency that serves low-income schools.
Can teachers get their student loans paid off?
It has been said that up to seventeen thousand five hundred dollars of federal teacher student loans can be paid off with the TEACH program. This amount combined with financial aid usually tends to pay off a person’s four years of college to obtain a bachelor’s degree in teaching.
Are you eligible for Teacher Loan forgiveness?
1. Teacher Loan Forgiveness. If you teach full-time for five complete and consecutive academic years in certain elementary or secondary schools or 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 eligible federal student loans.