Student Loan Forgiveness For Teachers In Nj

NJ Teacher Loan Forgiveness Program Expanded Under New Federal Policy

Eligible Educators to Receive Relief on Federal Student Loans

New Jersey educators who work in high-need fields are now eligible for expanded loan forgiveness under a new federal policy.

The Teacher Loan Forgiveness Program is designed to provide financial assistance to teachers who work in low-income schools or educational service agencies. Under the previous policy, only teachers who had taught for five consecutive years in the same school or agency were eligible for loan forgiveness.

The new policy expands eligibility to teachers who have taught for five consecutive years in any high-need field. This includes teachers who work in low-income schools, special education, or science, technology, engineering, and math (STEM) fields.

Teachers who are eligible for loan forgiveness can receive up to $17,500 in federal loan forgiveness. The amount of forgiveness is based on the teacher's salary and the number of years they have taught in a high-need field.

"This is a great opportunity for teachers to get some relief on their student loans," said New Jersey Education Commissioner Lamont O. Repollet. "This program will help us to attract and retain high-quality teachers in our schools."

Teachers who are interested in applying for loan forgiveness should contact their loan servicer. More information about the Teacher Loan Forgiveness Program is available on the Federal Student Aid website.