#57: How Teachers Can Get Their Student Loans Forgiven: 4 Programs Educators Should Know

 Sign-up for Roth IRA Office Hours  Join the Waitlist for WPT Academy Rita-Soledad Fernandez Paulino (they/them), a queer Mexican-American money and self-care coach and former public school math teacher, explains student loan forgiveness options for educators and how choosing the wrong program can cost time and money. They define Teacher Loan Forgiveness (up to $17,500 for highly qualified math/science/special education teachers or $5,000 for other subjects after five consecutive full-time years at qualifying low-income schools) and contrast it with Public Service Loan Forgiveness, which can forgive the remaining federal loan balance after 120 qualifying payments for eligible public-school employers. They also cover Perkins Loan Cancellation for pre-2017 Perkins loans (100% canceled over five years with specific annual percentages, including accrued interest) and state-based teacher repayment programs (examples: CA, TX, NY) that can stack with federal benefits. The episode’s key warning is that Teacher Loan Forgiveness years don’t count toward PSLF, potentially turning a 10-year path into 15 years, and listeners are advised to verify loan types, employer eligibility, and compare outcomes. 00:00 Welcome and Mission 00:21 Teacher Debt Overview 01:15 Why This Episode 01:36 Soledad’s Teacher Loan Story 04:16 Teacher Loan Forgiveness Basics 05:23 How Much Gets Forgiven 06:21 PSLF for Teachers 07:07 Perkins Cancellation Explained 09:49 State Repayment Programs 11:34 Biggest Forgiveness Mistake 12:49 Choosing the Right Strategy 13:51 Key Takeaways and Next Steps 15:25 Wrap Up and Disclaimer