Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Student Loan legislation question

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
 
ChoralScholar Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-06-10 08:34 PM
Original message
Student Loan legislation question
I haven't had much time to research, but someone told me that there are changes in the student loan forgiveness program for teachers.

Any of you guys know anything about it? It's going to be a day or two before I can read the bill.
Printer Friendly | Permalink |  | Top
tammywammy Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-06-10 08:39 PM
Response to Original message
1. Stafford Student Loan Forgiveness for Teachers
http://studentaid.ed.gov/PORTALSWebApp/students/english/cancelstaff.jsp

The Teacher Loan Forgiveness Program is intended to encourage individuals to enter and continue in the teaching profession. Under this program, individuals who teach full time for five consecutive, complete academic years in certain elementary and secondary schools that serve low-income families and meet other qualifications may be eligible for forgiveness of up to a combined total of $17,500 in principal and interest on their FFEL and/or Direct Loan program loans. (Note: As of August 14, 2008, an otherwise eligible borrower may qualify for forgiveness if the borrower has provided qualifying teaching services at one or more locations that are operated by an educational service agency.)

-snip-

Eligibility Requirements are at the link.
Printer Friendly | Permalink |  | Top
 
ChoralScholar Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-06-10 09:00 PM
Response to Reply #1
2. This is the plan we've had for a while.
I'm eligible for 5,000 forgiveness, since I teach music, and began before 2004.

I just heard there were some new things happening with this latest legislation.
Printer Friendly | Permalink |  | Top
 
tammywammy Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-06-10 09:14 PM
Response to Reply #2
3. Sorry, I can't help then.
I'm not sure about this. Hopefully someone else will pop in with a better answer.
Printer Friendly | Permalink |  | Top
 
ChicagoSuz219 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-06-10 10:20 PM
Response to Reply #2
4. Check the reconciliation part of the bill. n/t
Printer Friendly | Permalink |  | Top
 
tammywammy Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-10 09:32 AM
Response to Original message
5. kick n/t
Printer Friendly | Permalink |  | Top
 
tekisui Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-10 09:39 AM
Response to Original message
6. Anyone in public service, including working for the government
and non-profits, is eligible to have their federal loans forgiven after making 120 payments (10 years). You can also chose an income-based repayment plan, where for those 120 payments, you will not pay more than a set percentage of your discretionary income.

I think, but am not positive, that the changes were to lower the percentage that can be charged based on your income.
Printer Friendly | Permalink |  | Top
 
Viking12 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-10 09:48 AM
Response to Original message
7. Here are the 'old' rules...
http://www.finaid.org/loans/publicservice.phtml

I know there was an expansion of the forgiveness program in the recent legislation but, like you, I can't find any details.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Sun May 12th 2024, 03:31 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC