Loan Forgiveness for Educators Act of 2022

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Loan Forgiveness for Educators Act of 2022

On Friday, September 16, Senator Ben Ray Lujan (D-NM) and Representatives Teresa Leger Fernandez (D-NM) and Jahana Hayes (D-CT) introduced the AASA-endorsed Loan Forgiveness for Educators Act.  The bill amends the Teacher Loan Forgiveness (TLF) program to provide full forgiveness to educators after five years of service, have the federal government pay borrowers’ monthly payments until they reach the five-year mark and expands the TLF program to include K-12 school leaders and early educators.

These changes will help to recruit and retain more educators and ensure more diverse candidates can afford comprehensive educator preparation programs, a key strategy to decrease shortages and help increase educator diversity in early childhood and K-12 education.

“The Loan Forgiveness for Educators Act would have an immense impact on our schools by relieving teachers of a considerable financial burden and helping district leaders attract and retain staff moving forward,” said Dan Domenech, Executive Director of AASA, The School Superintendents Association. “I hear from district leaders on a daily basis who are struggling to find enough teachers to fully staff their schools. Student loan assistance for educators is a powerful tool to retain current teachers and incentivize young people to enter the profession. We are grateful to Senator Luján for his leadership on this bill and attention to such a critical issue facing K-12 public education.”

Read the full press release here


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