Assumption Program of Loans for Education APLE

This program is reserved for students planning on a career in teaching.

• Can be awarded up to $19,000 in loan repayment over the course of 4 years.
• Must teach for either a low-income school or in an area with teacher shortages.
• Some Eligibility Requirements
  • Legal resident of California.
  • Minimum 60 semester or 90 quarter units prior to application.
  • Enrolled in a baccalaureate degree or approved program for teach preparation.
  • Not yet completed all coursework necessary to obtain your teaching credential.
  • Must agree to teach in a California K-12 public school.

Teacher Loan Forgiveness Program

Highly qualified teachers may apply to have up to $5,000 of their federal loans forgiven.  Sometimes up to $17,500 for math, science, and special education teachers.

• Some Eligibility Requirements
  • The loan(s) seeking forgiveness must be made prior to the end of 5 academic years of qualifying teaching service.
  • Borrower must be employed as a full-time teacher for 5 consecutive, complete academic years.
    • Specific eligible school systems can be found in the Annual Directory of Designated Low-Income Schools for Teacher Cancellation Benefits. If this directory is not available before May 1 of each year, the previous year’s directory may be used.

Public Service Loan Forgiveness Programs

A borrower may qualify for forgiveness of the remaining balance due on eligible federal student loans after 120 payments on loans under certain repayment plans while employed full time by certain public service employers.

• Some Eligibility Requirements
  • Available only for loans made and repaid under the Direct Loan Program, sometimes consolidated Direct Loans apply.
  • The 120 required payments must be made under one or more of the following Direct Loan plans:
    • Income Based Repayment Plan
    • Income Contingent Repayment Plan
    • Standard Repayment Plan within a 10-year repayment period

Segal AmeriCorps Education Award

Each year, AmeriCorps offers 75,000 opportunities for adults of all ages and backgrounds to serve through a network of partnerships with local and national nonprofit groups.  Whether the service makes a community safer, gives a child a second chance, or helps protect the environment, AmeriCorps members address critical needs in communities all across America.  The current maximum that can be earned to apply toward qualified student loans is $5,500.

• Some Eligibility Requirements
  • Successfully complete a term of service in accordance with member contract with one of the following approved AmeriCorps programs:
    • AmeriCorps State and National
    • AmeriCorps VISTA
    • AmeriCorps NCCC

Army

The United States Army and the Army Reserve offer an alternative to spending a long time paying back student loans.  These programs can help you start your career debt free.  The Army College Loan Repayment Program may repay up to $65,000 in federal loans.  For more information call 714-744-4925.

• Some Eligibility Requirements
  • Enlist for a 4 year term and each year (for 3 years) the Army will repay $1,500 or 33.3% (whichever is greater) of a qualifying student loan (up to $65,000).

Navy

Seeking assistance to manage the debt associated with student loans?  The Loan Repayment Program can provide up to $65,000 to use toward paying off qualifying loans.

• Some Eligibility Requirements
  • Loan cannot be in default
  • Must be serving in your first enlistment.