This is a federal program for individuals who teach full time for five consecutive, complete academic years in certain elementary and secondary schools that serve low-income families and meet other qualifications may be eligible for forgiveness of up to a combined total of $17,500 in principal and interest on their FFEL and/or Direct Loan program loans. Certain teachers may be eligible for federal funds for teacher loan forgiveness provisions. The amounts vary from $5000 to $17,500 depending on subject area taught.
For more information on how to have some or all of your student loan forgiven, click here for the Federal Student Aid website.