Are your federal student loans weighing heavily on your mind? Have you ever imagined what you could do if you didn’t have loan payments to make every month? It’s time to stop wondering and start making your dreams a reality!
At the Watson Institute, we recognize the importance of supporting the professional and personal growth of our workforce. These talented individuals show up every day, bringing their expertise and dedication to excellence to their roles, ensuring students with special needs receive exceptional care and high-quality education.
As a full-time employee at the Watson Institute, you have access to two federal loan forgiveness programs: Public Service Loan Forgiveness (PSLF) and Teacher Loan Forgiveness. How can you qualify?
What is Public Service Loan Forgiveness (PSLF)?
Through the Public Service Loan Forgiveness (PSLF) program, the balance of your Direct Loans may be forgiven in full after meeting all of the program requirements. As a 501(c)(3) not-for-profit organization, the Watson Institute meets the requirement as an employer for full-time employees to qualify as public service.
Once you’ve made 120 qualifying payments while on an income-driven repayment plan and certified that you were employed at a non-profit agency throughout the time period during which those payments took place, the entire balance of your Direct Student Loans may be forgiven!
Every year you have the option to recertify your employment. In return, the Federal Student Aid department will update your progress and share how many remaining payments are needed before you can apply for forgiveness. If you’re on a routine payment schedule, it can take as little as 10 years to reach forgiveness, regardless of the total amount remaining on your loans!
In addition to Public Service Loan Forgiveness, the Watson Institute also qualifies as an eligible employer for the Teacher Loan Forgiveness program. Our experienced team of HR professionals is here to assist you through the Loan Forgiveness process.
What is Teacher Loan Forgiveness?
The Teacher Loan Forgiveness program offers qualified teaching professionals the chance to earn up to $17,500 of forgiveness towards their Direct Subsidized and Unsubsidized loans, or Subsidized and Unsubsidized Federal Stafford loans.
What does it mean to be a qualified teacher? You must have at least a Bachelor’s Degree, a full Pennsylvania teaching certification, and have worked at least five (5) consecutive academic years in a full-time teaching position at an educational service agency!
Based upon the qualifications the Watson Institute seeks in our full-time special education teachers in our school programs, most will meet the teacher qualifications and be eligible for forgiveness after working five (5) consecutive school years.
What does this mean for you?
As an employee at the Watson Institute, you can rest assured that your professional and personal well-being are a top priority! Student loan forgiveness for teachers or as a non-profit employee can open the door to opportunities that may otherwise have been out of reach.
Learn more about our full-time job opportunities and start working your way towards loan forgiveness today!