The federal government may forgive all or part of teachers’ federal student loans if they meet certain requirements. To qualify, you must teach at least five full years in a low-income school in an eligible district. Depending on your field, you may have up to $17,500 in student loans forgiven. For complete details, visit www.ed.gov.
One thing to remember is that the Internal Revenue Service counts the amount forgiven as income. You should talk with a tax professional to understand the impact it may have on your taxes.