Friday, September 4, 2009

Teaching--Student Loans--Forgiveness for Teaching Service

President Barack Obama has generated a call to service in many sectors.  The federal government has had a program in place to "forgive" or "cancel" some or all of student loans taken out by techers if they work for a pre-set number of years in "at-risk" schools.

While this is an excellent way to build a cadre of qualified teachers working in "at-risk" schools to help students learn, it is of vital importance to these teachers, especially teachers who have entered teaching as a second (or later) career and who had to go back to school for another advanced degree to meet state teaching requirements.

Part of my day today was invested in contacting school districts where I used to work and going to the Human Resources department to have them complete an employment verification for the time I was a full-time teacher in an "at-risk" school in their district.  When I have all the signatures from the school districts and other relevant signatures, I can send the entire package to the bank holding my student loan for their consideration for forgiveness.

I am applying for the elimination of $5,000 worth of debt in return for five years of full-time teaching in at-risk schools.  Had I taught special populations in these at-risk schools or extremely important subject matter, I could be eligible for $17,500 worth of debt cancellation.

Reducing my student loan debt by as much as $5,000 is certainly a great way to invest the day before Labor Day.  In one Human Resources department I found everyone still working this afternoon and now have one more form completed.  Next week I'll go to a different district for another signature on a form.

It's also fun to reconnect with former employers and to see who I know who's still working where I used to work--or of the changes that have taken place in the intervening years.

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