Of course. You can potentially receive forgiveness under both the Teacher Loan Forgiveness Program and the Public Service Loan Forgiveness Program, but not for the same period of teaching service.
Well, what if I complete five years of qualifying teaching and then I get forgiveness of my Direct Loans?
If you complete five consecutive years of qualifying teaching and receive forgiveness of your Direct Loans under the Teacher Loan Forgiveness Program, any payments you made on your Direct Loans during that five-year period can not be counted toward the required 120 monthly payments for the Public Service Loan Forgiveness Program.
Alright, that makes sense. And what if I'm applying for forgiveness of loans from different loan servicers?
In that case you must submit a separate form to each of them.
But I can receive forgiveness, right? I mean, if I'm under the teacher loan forgiveness program.
Yes, you can potentially receive forgiveness under both the Teacher Loan Forgiveness Program and the Public Service Loan Forgiveness Program, but not for the same period of teaching service.
What do I need to do to receive public service loan forgiveness then?
You would need to make 120 more qualifying monthly payments.
That's a lot, but it's fair enough. Can you tell me more about the teacher loan forgiveness and the benefits of the AmeriCorps program, please?
Are you an AmeriCorps Program volunteer?
Yes, I am.