Loan-Forgiveness Programs on the Chopping Block

sybbie719
Thu, 04 Jun 2009 08:20:28 +0000

Although there is a freeze on hiring the NYC DOE has still has the Teachers of Tomorrow program, an opportunity for a newly hired certified teacher to earn an additional tax-free grant of $3,400 for each year of satisfactory service up to four years for a total of up to $13,600.

[Teachersof Tomorrow - Financial Support for Incoming Teachers - New York City Department of Education](http://schools.nyc.gov/TeachNYC/IncentiveAndScholarshipPrograms/FinancialSupportIncomingTeachers/Teachers+of+Tomorrow.htm)

In addition, they will pay for bachelors and master degree programs in shortage areas such as specified bilingual and monolingual areas of education and pupil personnel services. A full scholarship is offered in exchange for a service commitment. The Loan Forgiveness Program offers prospective employees who have obtained New York State Certification as teachers and clinicians in specified shortage areas the repayment of student loans

Currently, scholarships and loan forgiveness are available for the following critical teaching shortage areas:

Bilingual Special Education
Monolingual and Bilingual Visually Impaired

In addition, scholarships and loan forgiveness are available in the following speech and clinical school positions:

[Scholarship and Loan Forgiveness Programs - Financial Support for Future Teachers - New York City Department of Education](http://schools.nyc.gov/TeachNYC/IncentiveAndScholarshipPrograms/FinancialSupportFutureTeachers/schlrshpandloanfrgvns.htm)
Monolingual and Bilingual Speech and Hearing Handicapped
Bilingual School Counseling
Bilingual School Psychology
Bilingual School Social Work

so, still under the College Cost Reduction and Access Act of 2007, if a you make 120 qualifying loan payments on a Federal Direct loan (including Federal Direct Consolidation loans) while working full-time for 10 years in public service employment, the unpaid balance on the loan is forgiven by the federal government.