Student loan debt in America already amounts to about $1.5 trillion. That is a colossal amount of debt. In a breakdown, that’s about 70 percent of students that graduate from college with debt. However, only about 40 percent of borrowers are estimated to be able to pay off their debt, says The Hill. That’s where teacher student loan forgiveness programs come in.
What is it?
The Teach Loan Forgiveness Program or TLFP is designed to provide student loan debt relief to students who are employed as teachers in low-income schools. If you have about 5 years of experience working at the job, you could qualify for the program and get anywhere from $5000 to $17,500 off your student loan debt.
How to qualify?
Like any other loan program, you will need to check on the requirements to see if you qualify. However, it can be difficult to put together the paperwork all on your own and perform your professional duties at the same time, especially if you also have a demanding personal life. It can be tough to find time to prepare everything when you’re trying to raise kids, find time for your marriage, your lesson plans and student consultations, among other things.
How to get help?
If you want to apply for a teacher student loan forgiveness program, consult organizations that can assist you in securing the loan. Some of these companies can help you determine if the program is the right one for you. Once that checks out, they can help you put together your requirements and guide you through the paperwork. They will review your documentation to ensure everything is in order. That should prevent filing errors from delaying your application. By getting help application assistance, you have a much better chance of qualifying and getting accepted into the program.