 TITLE: What Is Teacher Loan Forgiveness? CONTENT: Perkins Loans Teacher Forgiveness Programs\n------------------------------------------\nTeachers are also eligible for the federal Perkins Loans forgiveness program. You can can have Perkins loans forgiven or reduced if you meet certain guidelines:\n*   Teach at a school that serves students from low-income families.\n*   Be a special education teacher.\n*   Teach in an area where the state has a shortage of qualified teachers, such as math, science, foreign languages or bilingual education.\nPerkins loan forgiveness can eliminate a substantial amount of student loan debt—up to 100% of your loan. The program is based on an incremental model, with the loan forgiven steadily over a five-year basis. Perkins loan forgiveness provides teachers loan relief in the following incremental fashion:\n*   **Year 1**: 15% of a Perkins student loan is forgiven.\n*   **Year 2**: Another 15% of a Perkins student loan is forgiven.\n*   **Year 3**: 20% of a Perkins student loan is forgiven.\n*   **Year 4**: Another 20% of a Perkins student loan is forgiven.\n*   **Year 5**: The remaining 30% of the Perkins student loan is forgiven.\nOne thing to keep in mind if you're currently a student or considering going back to school is that Perkins Loans are no longer available as of September 2017. END