Increased Student Loan Forgiveness for Teachers
This act increases the amounts of student loan forgiveness available to teachers who meet specific conditions. This means teachers can expect significantly greater financial support in repaying their debts, potentially improving their financial situation and encouraging them to remain in the profession.
Key points
The maximum loan forgiveness amount for teachers increases from $5,000 to $15,000.
The maximum loan forgiveness amount for teachers in high-need areas increases from $17,500 to $30,000.
These changes apply to teachers who complete their fifth year of teaching required for loan forgiveness on or after the act's enactment date.
Expired
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