PHEAA Loan Forgiveness
Last year
the Pennsylvania Higher Education Assistance Administration (PHEAA)
Foundation
allocated $5 million to its Early Childhood Education Loan Forgiveness program.
This was a great victory for QUEST advocates who worked to expand this
program
which will help to retain B.A. degreed teachers in early childhood programs.
Unfortunately, the word is getting out very slowly. As of October, PHEAA had
received
only 29 applications. Twelve were approved and eight were still
pending. QUEST needs
to get the word out!
The program will forgive up to
one-sixth of qualifying loan debt annually, not to exceed
the maximum of $3,300 per year
for three years or the program’s $9,900 maximum benefit.
To be eligible an applicant must
be employed in a child care center and have a B.A. degree
and early childhood
certification, or an Associates degree in early childhood education.
Applications
for the Quality Early Education Loan Forgiveness program can be obtained by
visiting www.pheaa.org or by calling PHEAA at 800-233-0557.