Iowa Student Loan Teacher Education Loan Forgiveness Program
Frequently Asked Questions
Q. What is the goal of the Iowa Student Loan Teacher Education Loan Forgiveness Program?
A. The program was created to help increase the preparedness of students for college and the workforce by making teachers available to them in critical subject shortage areas. The program provides recruitment and retention incentives in the form of education loan forgiveness to new teachers in designated state teacher shortage subject areas who graduate from Iowa colleges and universities and teach in Iowa.
Q. Who is providing the funding for the program?
A. Iowa Student Loan is providing the funding.
Q. Are all future teachers in Iowa eligible to apply for the program?
A. No. Following graduation from an Iowa college or university you must teach in Iowa and in a subject shortage area as designated by the Iowa Department of Education. Below is a current list of the qualifying teacher subject shortage areas.
| Grade Level | Teacher Shortage Subject Area |
|---|
| K-12 |
English Language Learners
(English as a Second Language) |
| K-12 | Music |
| K-12 | Special Education |
| K-12 | Talented and Gifted |
| 5-12 | Agriculture |
| 5-12 | Family and Consumer Sciences |
| 5-12 | Foreign Languages |
| 5-12 | Industrial Technology |
| 5-12 | Mathematics |
| 5-12 | Science |
Q. How much loan forgiveness can a qualifying teacher receive?
A. A qualifying teacher can receive up to $6,000* in loan forgiveness from the program earned incrementally over five years of teaching. Refer to the Loan Forgiveness Benefit Schedule for more information.
* Loan forgiveness recipients approved during the 2006-07 and 2007-08 academic years will continue to be eligible for loan forgiveness of up to $9,000, as previously awarded
Q. What educational loans qualify for forgiveness through the program?
A. Qualifying education loans include:
- Federal Family Education Subsidized and Unsubsidized Stafford Loans that is owned or serviced by Iowa Student Loan.
- Partnership (student) Loan or other private (student) loan owned or serviced by Iowa Student Loan.
- Federal Consolidation Loans (including Federal Direct Loans) consolidated with Iowa Student Loan.
Q. Why is the current program limited to students who will complete their degree or endorsement program by December 2009?
A. Due to funding limitations, Iowa Student Loan has focused on making awards to students who are in their final year of eligibility to apply for this program. The hope is that students who will NOT complete their degree or endorsement program by December 2009 can and will apply in future years.
Q. How does this program connect to other state or federal teacher shortage initiatives?
A. This program is designed to supplement existing programs by providing teachers with additional benefits. Iowa Student Loan representatives can provide information on related programs from which qualified applicants may also be able to receive benefits.
Q. If I have questions about the program, who should I contact?
A. Send an e-mail to mbrown@studentloan.org or call (800) 243-7552, ext. 7656 or (515) 273-7656.
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