Student Loan Forgiveness Program
Olathe Public Schools is excited to partnership with AIG Valic and SAVI to provide access to student loan forgiveness programs.
Public Service Loan Forgiveness (PSLF)
The PSLF Program forgives the remaining balance on your Direct and Direct Plus Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan (Income-Based Repayment IBR) while working full-time for a qualifying employer (elementary and secondary schools or Head Start program)
- Open to all employees with direct loans such as Federal Direct Subsidized/Unsubsidized, Stafford Loans, or Federal Direct Plus Loans.
- No cap on forgiveness amount
- No consecutive service requirements
Teacher Loan Forgiveness (TLF)
Full time teachers with five complete and consecutive years of teaching experience in a designated elementary or secondary school that serves students from low income families.
- May forgive for five consecutive years of service
- Open to only teachers working at Title 1 schools. Go to the Federal Student Aid website to check school eligibility status
- Teachers with Federal Direct Loans or Stafford Loans are eligible for up to $17,500 forgiven if they are highly qualified full-time math or science teachers in an eligible secondary school
- Elementary or secondary teachers who teach in an area related to their academic major are eligible for up to $5,000 forgiven
- Loans originating prior to October 1, 1998 are not eligible
SAVI is a company partnered with AIG Valic whose focus is student loan forgiveness and federal income-based repayment options.
- Checks eligibility and qualifications for PSLF and TLF programs
- Provides personalized repayment and forgiveness options for federal and private student loans
- Option to complete all paperwork digitally
- Yearly recertification of repayment and forgiveness plans
- Monitors for new programs and policy changes
Click here to get started.