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Child Care Provider Loan Forgiveness Demonstration

Published on AidPage by IDILOGIC on Jun 24, 2005

Administered by:

Who is eligible to apply...

A borrower is eligible for child care provider forgiveness for the borrower's eligible loans, if he or she: is a new borrower in the FFEL or Direct Loan program; has received an associate or bachelor's degree in the field of early childhood education or child care that was awarded by an institution of higher education (includes only public and private, nonprofit institutions); has worked full-time for two consecutive years (24 months) after receiving his or her degree as a child care provider in a facility that serves a low-income community; and is not receiving benefits for the same child care service under both subtitles D of title 1 of the National and Community Service Act of 1990 (Americorps) and this demonstration program. A new borrower is a borrower (a) who has an outstanding loan balance on any loan under the FFEL or Direct Loan programs (including PLUS and Consolidation) on October 7, 1998, or (b) who has no outstanding loan balance on an FFEL or Direct loan on the date that he or she obtains a loan after October 7, 1998. An eligible loan includes only a loan made after October 7, 1998 to a new borrower under the subsidized and unsubsidized Federal Stafford Loan, Direct Subsidized Loan, and Direct Unsubsidized Loan program (does not include PLUS and Consolidation loans); is a loan that a borrower received before beginning qualifying service and for the purpose of completing the borrower's degree in early childhood education or child care; and if a borrower secures a degree in early childhood education or child care after previously graduating from an institution of higher education, only includes the eligible loans received for a maximum of two academic years in pursuit of the early childhood education or child care degree.

Eligible Applicant Categories:
Eligible Functional Categories:
Credentials/Documentation

To receive forgiveness, a borrower must submit an application including a certification by the director of the facility that the borrower has provided the qualifying child care. To receive forbearance, the borrower must submit a forbearance application.

Note:This is a brief description of the credentials or documentation required prior to, or along with, an application for assistance.

About this section:

This section indicates who can apply to the Federal government for assistance and the criteria the potential applicant must satisfy. For example, individuals may be eligible for research grants, and the criteria to be satisfied may be that they have a professional or scientific degree, 3 years of research experience, and be a citizen of the United States. Universities, medical schools, hospitals, or State and local governments may also be eligible. Where State governments are eligible, the type of State agency will be indicated (State welfare agency or State agency on aging) and the criteria that they must satisfy.

Certain federal programs (e.g., the Pell Grant program which provides grants to students) involve intermediate levels of application processing, i.e., applications are transmitted through colleges or universities that are neither the direct applicant nor the ultimate beneficiary. For these programs, the criteria that the intermediaries must satisfy are also indicated, along with intermediaries who are not eligible.