Teacher Loan Forgiveness: As an educator here on Guam, you may already be eligible for the federal Teacher Loan Forgiveness Program and not even know it. Because Guam is designated as a low-income area, teachers who have been serving full-time in our local schools for five consecutive years may qualify to have up to $17,500 in student loans forgiven. Teachers in high-need subjects such as math, science, and special education may qualify for the full $17,500, while other eligible teachers can receive up to $5,000. This forgiveness applies as a combined maximum across both Direct Loans and Federal Family Education Loans (FFEL). You have already committed yourself to serving our island’s students, and this program is a well-deserved recognition of the sacrifices you make every day. Take advantage of what you have earned. You deserve it. https://studentaid.gov/manage-loans/forgiveness-cancellation/teacher
Teacher Loan Forgiveness (Steps):
- Take out a qualifying federal student loan through either the Direct Loan Program or the Federal Family Education Loan (FFEL) Program to fund your education.
- Complete your degree and begin teaching full-time at an eligible low-income school on Guam.
- Teach for five consecutive, complete academic years in a qualifying subject area.
- Submit a Teacher Loan Forgiveness Application to your loan servicer, signed by your school’s chief administrative officer to certify your teaching service.
- Receive forgiveness of up to $17,500 or $5,000 depending on your subject area.
