Sign-up for Roth IRA Office Hours 

Join the Waitlist for WPT Academy 

Rita-Soledad Fernandez Paulino (they/them), a queer Mexican-American money and self-care coach and former public school math teacher, explains student loan forgiveness options for educators and how choosing the wrong program can cost time and money.

They define Teacher Loan Forgiveness (up to $17,500 for highly qualified math/science/special education teachers or $5,000 for other subjects after five consecutive full-time years at qualifying low-income schools) and contrast it with Public Service Loan Forgiveness, which can forgive the remaining federal loan balance after 120 qualifying payments for eligible public-school employers.

They also cover Perkins Loan Cancellation for pre-2017 Perkins loans (100% canceled over five years with specific annual percentages, including accrued interest) and state-based teacher repayment programs (examples: CA, TX, NY) that can stack with federal benefits.

The episode’s key warning is that Teacher Loan Forgiveness years don’t count toward PSLF, potentially turning a 10-year path into 15 years, and listeners are advised to verify loan types, employer eligibility, and compare outcomes.

00:00 Welcome and Mission

00:21 Teacher Debt Overview

01:15 Why This Episode

01:36 Soledad’s Teacher Loan Story

04:16 Teacher Loan Forgiveness Basics

05:23 How Much Gets Forgiven

06:21 PSLF for Teachers

07:07 Perkins Cancellation Explained

09:49 State Repayment Programs

11:34 Biggest Forgiveness Mistake

12:49 Choosing the Right Strategy

13:51 Key Takeaways and Next Steps

15:25 Wrap Up and Disclaimer