United Aid Group is a business organization that mainly practices nationwide consulting and document preparation for Americans. It’s a result of most Americans being burdened with student loans and high-interest rates. It goes far and beyond for its clients with the help of highly trained consultants who are experts in the student loan industry. They’ve managed to help thousands achieve the dream of becoming debt-free.
Student loan forgiveness for teachers’ knowledge
Education for future generations is a serious task as teachers have such a vital purpose, it makes sense that they should have some perks. A teacher’s salary isn’t always the most glorious. Therefore they deserve to catch a break regarding student loan forgiveness for teachers. However, teachers’ loan forgiveness may be difficult to navigate with multiple options with varying requirements. Other forgiveness options include Income-Driven Repayment Forgiveness and state-based loan repayment programs.
Here are the three programs that the Department of Education offers specifically for teachers:
- Teacher Loan Forgiveness
If you teach full-time for five complete and consecutive academic years in a low-income school or educational service agency, this program could be just what you need. You’ll need to be a highly qualified teacher to qualify for the program. other requirements depend on how new you are to the profession and what level of school you teach
- Public Service Loan Forgiveness
It’s offered to those working full-time in public service for qualifying employers, including teachers. You can qualify for the program if you meet all the requirements and have your federal student loans completely forgiven after 120 qualifying payments.
- Perkins Loan Teacher Cancellation and Discharge
It forgives up to 100 per cent of your federal Perkins loans if you are among teachers meeting specific eligibility criteria. You’ll need to work full-time at a qualifying nonprofit or public school in the Teacher Cancellation Low-Income directory. However, if you are a special teacher in the fields of math, science, foreign language, or bilingual education, you can qualify for cancellation for interest that accrues during the year; 15% for 1st and second year, 20% for the third and forth, and 30% for 5th year.
Conclusion
While applying for student loan forgiveness, ensure you keep making the payment to avoid falling into the dreaded student loan default pit. The United Aid group is there to help you set plans to ensure you stay on track. No need to worry about figuring out which forgiveness option is best for you. Contact them and start your financial freedom today.
