Stepping into a classroom could mean stepping out of debt. Loan forgiveness programs cancel your remaining student loans (meaning you don’t have to pay them back!) if you commit to teaching for several years.

High-Need School Loan Assistance Repayment Program

Maryland offers partial loan repayment support for teachers working in high-need schools and subject areas through the Janet L. Hoffman Loan Assistance Repayment Program. 

To qualify, you typically must:

• Work in a listed eligible field.
• Have graduated from a Maryland institution. (Except lawyers, teachers who have not graduated from a Maryland institution must have a resident teacher certificate from the Maryland State Department of Education).
• Be employed full time in the state of Maryland.
• Meet certain income requirements.
• Meet loan requirements: Your loans cannot be Parent plus loans and cannot be in default.

Award amounts and eligibility details can vary by year and funding availability.

Teacher Loan Forgiveness Program

The Federal Student Aid Teacher Loan Forgiveness Program helps public school teachers with federal student loans.

Teachers in certain shortage areas, including math, science and special education can receive up to $17,500 in forgiven loans. If you teach a different subject, you can still get up to $5,000! To qualify, you’ll need to:

• Have a federal Direct Loan or Stafford Loan.
• Teach in a school that serves low-income students.
• Teach full-time for five consecutive academic years.
• Have taken out your loans before the end of your five years of service.

Perkins Loan Forgiveness

You can get 100% of your Perkins loans forgiven if you teach for five years!

You’ll need to:

• Have a federal Perkins loan.
• Teach in a school that serves low-income students.
• Teach in a state-designated shortage area.

Public Service Loan Forgiveness

If you work full-time in a public service field (like teaching!) for 10 years, you can get your remaining student loans forgiven through the Public Service Loan Forgiveness Program.

To qualify, you’ll need to:

• Have a federal Direct Loan, or consolidate your other federal loans into a Direct Loan.
• Work full-time (at least 30 hours a week).
• Make 120 on-time payments while you’re employed full-time.

Buying a house is expensive, but there are resources to find a home in the community where you teach:

Good Neighbor Next Door

The federal government created Good Neighbor Next Door to contribute to community revitalization and to support people in service professions (like teaching).

Good Neighbor Next Door offers a discount of 50% from the list price of qualifying homes. The home inventory changes weekly—so if you don’t see something in your area right away, it’s worth checking back!

Teacher Next Door: Maryland

Teacher Next Door helps classroom teachers become homeowners in their work communities. The program offers a wide range of support, including:
 

• Housing grants (up to $8,000)
• Down payment assistance (up to $15,000)
• Home loans
• Preferred interest rates

Want to continue your teacher education? Many school districts offer tuition reimbursement and professional development funds, for things like conferences or trainings.

Building your skills can increase your knowledge and your pay. It also helps districts retain top-notch educators—so it’s a win-win for everyone.