Borrowers of certain U.S. Department of Education (USDOE) loans may quality for deferment, forbearance or cancellation of all or part of their loans for teaching service in a designated low-income school or in a designated teacher shortage area/subject-matter shortage area, depending on the type of loans and when the loans were made.
Speech-language pathologists and audiologists employed by a Nevada school district, charter school, private or parochial school may qualify for loan forgiveness, loan deferments or the reduction of a teaching obligation depending on the type of loans and the date the loans were taken out.
Deferment is a temporary postponement of payments (principal and, in some cases, interest) on the loan.
Forbearance is a temporary postponement or reduction on the loan.
Cancellation means that the borrower will no longer be responsible for repaying all or a portion of the loan, including interest, once he or she has performed qualifying teaching service.
To find out more go to: http://studentaid.ed.gov/repay-loans/forgiveness-cancellation/charts/teacher
Borrowers with FFEL, SLS, Stafford, Perkins, and/or Paul Douglas Loans:
To find out more about the eligibility requirements for teacher loan forgiveness, go to www.studentaid.ed.gov and follow this sequence of steps Select Repaying or Repayment Information.
- Go to the Nevada Department of Education website for a listing of Nevada’s designated “Teacher Shortage Areas” and copy of the Memorandum: http://www.doe.nv.gov/Topic/Teacher_Shortage/
- Go to the USDOE website for a current nationwide listing of designated “Teacher Shortage Areas”: http://www2.ed.gov/about/offices/list/ope/pol/tsa.html