Illinois Teachers Loan Repayment Program
To Be Eligible …
The Illinois Teachers Loan Repayment Program provides awards to encourage academically talented Illinois students to teach in Illinois schools in low-income areas. A listing of Illinois schools in low-income areas is provided at the U.S. Department of Education’s Teacher Cancellation Low Income Directory. If these obligations are met by a Federal Stafford loan borrower who has qualified for the federal government’s loan forgiveness programs, Illinois may provide an additional matching award of up to $5000 to the qualifying teacher to repay their student loan debt.
Although the Illinois program was initially available also to child care providers, the federal Child Care Provider Loan Forgiveness Program received no funding beyond the demonstration program and does not accept applications. Consequently, there is no application for the Illinois Child Care Providers Program.
To be eligible, you must:
- Be a U.S. citizen or an eligible non-citizen
- Be an Illinois resident
- Be a borrower who has had an amount of your educational loans forgiven under the federal government’s loan forgiveness programs
- Have a balance remaining on your eligible student loan(s)
- Have fulfilled your five-year teaching obligation in an Illinois elementary or secondary school designated as a low-income school.
Loans That Qualify
- Stafford loans
You can find directions on how to apply to this forgiveness plan here.