Educational loan forgiveness and cancellation programs are available at the state and federal levels for graduates who teach in low income or underrepresented schools; for those who teach math, science, and special education; for those who teach in agricultural and life sciences and nursing; and for those who plan to teach in other teacher shortage areas as defined by individual states.
Wisconsin, for example, has defined its teacher shortage areas as ESL, sciences, library media, mathematics, music, reading, and foreign languages as well as special education and career and technology education.
In addition to all of the educational loan forgiveness and cancellation programs that are available for teachers, there are also a number of programs for graduates in other professions.
Veterinary or Agricultural Educational Loan Forgiveness Programs
Pennsylvania has an Agriculture Education Loan Forgiveness (AELF) program that forgives up to $2,000 per year (maximum $10,000) in qualified educational loans for agricultural or veterinary school graduates who return to Pennsylvania to operate a farm or practice veterinary medicine.
The Minnesota Milk Producers Association formulated a 2009 resolution that would establish a loan forgiveness program for graduates of the University of Minnesota College of Veterinarian Medicine who practice in Minnesota for a period of at least 5 years in the area of food animal agriculture.
Iowa has designated a teacher shortage in agricultural education. Iowa graduates in agricultural and life sciences who teach are eligible to have up to $9,000 in qualified educational loans forgiven.
Educational Loan Forgiveness Programs for Librarians
A graduate who is working as a librarian in a public or nonprofit elementary or secondary school system may qualify for cancellation of up to 100% of his or her Federal Perkins Loan.
Child Care Provider Loan Forgiveness Program
Maine provides loan forgiveness for graduates with a degree or certificate from a child care development program who teach in qualified positions or who are employed at a child care facility.
No matter what profession you're contemplating, it's always a good idea to do some research to find out if any loan forgiveness or cancellation programs are available in your field. Even if you have a non-teaching career goal in mind, you may want to consider teaching for a couple of years to relieve some of your educational loan debt burden.
About the Author:
Judi Sandall is a graduate of the State University of New York, with a BA in English Literature. She is a technical writer and editor who worked in student financial aid for over 20 years.
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