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Get rid of student loan debt by helping community

By Staff | Mar 6, 2018

If you are in the business of teaching school in North Dakota, you could qualify for some student loan forgiveness.

A student loan holder that decides to teach in a teacher shortage area, which could be remote, rural or school district with fewer than 1,000 students could be eligible for loan forgiveness over four years, paid in four installments of $4,500 each.

Locally in Rugby, the JDA has some positions which pay a monthly stipend, when student loan holders take a full time position and commit to staying in that position for a certain amount of time, they can apply annually. Each payment is about $135 monthly.

The ND State’s newly revamped student loan forgiveness program for teachers, may offer up to four year worth of debt relief, said Kirsten Baesler, ND State Superintendent. “Teachers who benefit from the program have from $12,000 to $26,000 in debt forgiven over four years depending on position and location. School districts could use this for a recruitment incentive,” said Baesler.

The 2017 Legislature made major changes to the teacher loan forgiveness program. Applications now must come from school districts, rather than individual students which was done in the past. And, in 2018 teachers will no longer receive benefits from the old program.

NDSU began taking debt relief applications for the 2018-2019 school year this month. Applications received before April 15, 2018 will be first priority. Later requests will be considered but it is encouraged to apply early.

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