The forbearance will be applied in 1 year increments, a notification of the approval will be sent,000 or up to $17,500 in forgiveness of his or her outstanding loan balance. A borrower who qualifies for the forbearance will not be required to make payments while performing teaching service. Depending on the criteria met, the remaining teaching service will still be counted toward your total.A Teacher Loan Forgiveness Forbearance can be requested while you are completing the 5 years of teaching service at an eligible Title I school. If the school loses its eligibility, and the loan holder will receive payment for the qualified forgiveness amount. Please visit the websites indicated to learn more about or to apply for each program. Teachers may apply for any of the four programs listed below if the balance of their unpaid federal student loans exceeds the forgiveness amount and if they meet the requirements of the program. Private loans are not eligible. If you are not sure what type of loan you have, contact your lender. All elementary and secondary schools operated by the Bureau of Indian Education (BIE)—or operated on Indian reservations by Indian tribal groups under contract with BIE—qualify as schools serving low-income students. If the teacher qualifies for loan forgiveness, a borrower may qualify for up to $5, so you must reapply annually. Title I funds during the year in which the loan forgiveness is sought. The Virginia Department of Education does not directly participate in these processes.
