Iowa Student Loan Teacher Education Loan Forgiveness Program
Loan Forgiveness Benefit Schedule
The chart below defines the maximum annual forgiveness amounts for each year of employment. Loan forgiveness will be based on the completion of one full academic year of employment (unbroken, except for military service) commencing at the point of employment.
There will be no partial-year forgiveness. Forgiveness amounts can be up to the maximum annual dollar amounts listed in the chart, but cannot exceed the outstanding principal balance (and accrued interest, if applicable) of qualifying loans.
| Teaching | Annual Loan Forgiveness Maximum Amount |
|---|
| Year 1 | $1,000 |
| Year 2 | $1,000 |
| Year 3 | $1,000 |
| Year 4 | $1,000 |
| Year 5 | $2,000 |
|