Educational Opportunity and Equity Division


Teacher Cancellation Loan

Monday, March 24, 2014, 12:40 pm

The Teacher Cancellation Loan Program assists teachers with up to $17, 500.00 in forgiveness on Direct Subsidized and Unsubsidized Loans as well as Subsidized and Unsubsidized Federal Stafford Loans.  The program was started with the intentions of encouraging educators to stay in the teaching profession. 

Qualifying teachers must have taught five consecutive years in a qualifying school district.  Also, the teacher must be  highly qualified in a qualifying subject in order to apply.  To be considered a highly qualified teacher, you must obtain full state certification along with passing rigorous testing in the teaching field in which the applicant has a degree. 

In order for the school to qualify, the school must have over 30 percent poverty or free and reduced lunch rates.  The school must also be a Title I School.  Each school year, the qualifying school list is updated by the state in order for the applicants and lenders to determine eligibility.

To learn more, click on the Teacher Cancellation Loan link:

http://studentaid.ed.gov/repay-loans/forgiveness-cancellation/charts/teacher.  You may also contact Shawna Pieske at spieske@mt.gov or (406)444-5660.

 

For more information, contact Shawna Pieske, 406-444-5660