Public Service Loan Forgiveness

The Public Service Loan Forgiveness program rewards people in public service careers, including teachers. 

If you make your student loan payments on time for ten years (or 120 payments) and work full-time in teaching or other public service, you can apply to have the remaining balance of your loans forgiven. If you're eligible, there is no limit on the maximum amount that can be forgiven. 

Your loans also have to be Direct loans issued by the Department of Education, not private loans issued by a bank or other financial institution.