# Teacher Loan Forgiveness Improvement Act of 2021

This bill makes it easier for teachers to get their student loans forgiven by significantly increasing the amount of debt that can be wiped away. Right now, teachers who work in low-income schools or other qualifying positions can have up to $5,000 of their federal student loans forgiven after five years of teaching, with a maximum of $17,500 available under certain circumstances. This bill triples those amounts, raising the basic forgiveness from $5,000 to $15,000 and the maximum from $17,500 to $30,000.

The changes apply to two different federal loan forgiveness programs for teachers, so the increased amounts would be available through either program depending on which type of loans a teacher has. The bill would help any teacher who completes their fifth year of teaching on or after the bill becomes law, meaning it applies going forward rather than retroactively to past teachers.

For teachers carrying significant student debt, this is meaningful relief. A teacher with $30,000 in qualifying loans could potentially have all of it forgiven instead of just $17,500, which could save them years of monthly payments. This is designed to make teaching a more financially attractive career path and help address teacher shortages, particularly in schools serving lower-income communities where qualified teachers are hardest to recruit and retain. The bill essentially says that if you're willing to teach in these challenging environments for five years, the government will help you pay off a larger chunk of your education debt.

Teacher Loan Forgiveness Improvement Act of 2021

Luria, Elaine G.

Teacher Loan Forgiveness Improvement Act of 2021 This bill modifies the Teacher Loan Forgiveness program by increasing the amount of loan forgiveness available for certain qualified teachers who have federal student loans. The program provides loan forgiveness for teachers who are highly qualified, teach full-time in a low-income school or educational service agency, and complete five years of consecutive service. Specifically, the bill increases from $5,000 to $15,000 the amount of available loan forgiveness for an elementary or secondary school teacher in any subject. It also increases from $17,500 to $30,000 the amount of available loan forgiveness for a secondary school math or science teacher and for a special education teacher.