The Federal Teacher Loan Forgiveness Program provides student loan forgiveness for qualified applicants who work in designated low-income elementary and secondary schools.
You may find out if your school qualifies as a low-income school in the Annual Directory of Designated Low Income Schools at: http://www.ed.gov/offices/OSFAP/Students/repayment/teachers/perkins.html

The Federal Teacher Loan Forgiveness Program provides forgiveness up to $5,000 in principal and interest owed on eligible Federal Stafford and Consolidated loans.

TO QUALIFY, YOU MUST:
Have had no outstanding balance on a prior Stafford Loan or a Direct Loan on October 1, 1998, or on the date you obtained a loan after October 1, 1998.
Seek forgiveness for a loan disbursed before the end of your teaching service requirement.
Teach for five years in an elementary or secondary school that is designated as a low-income school in the Annual Directory of Designated Low-Income Schools for Teacher Cancellation Benefits.
File an application approved by the U.S. Department of Education, in which:

Your Chief Administrative Officer certifies that you have completed five consecutive years of teaching in a designated low-income school with at least one of those years occurring after the end of the 1997-1998 academic year.
If you teach at an elementary school, the Chief Administrative Officer of your school must certify that you demonstrate proficiency and teaching skills in reading, writing, mathematics, and other areas of the school's curriculum.
If you teach at a secondary school, your Chief Administrative Officer must certify that you teach in a subject area relevant to your academic major.

ADDITIONAL INFORMATION:
While you are performing your five-year service requirement, you may qualify to delay payment on your loan. Contact the lender or servicer of your loan to determine if this is suitable for you. Under this program you cannot receive a refund of any payments you have already made on your loan.

To learn more about the Federal Teacher Loan Forgiveness Program, contact your lender, visit AES/PHEAA Online at www.aesSuccess.org, or call 800-692-7392. Applications are available from the U.S. Department of Education's Website.