You’re not alone if you need to take on student debt to pay for a teaching degree. Before you take out a student loan, it’s essential to understand your options.
Here’s what to know about teacher student loans, including which type to consider first and how to apply.
| Lender | Best for | LendEDU rating |
| Dept. of Education | Federal student loans | Not rated |
| College Ave | Private student loans | 5/5 |
| Sallie Mae | Cosigners | 4.8/5 |
| Earnest | No fees | 4.7/5 |
| SoFi | Member benefits | 4.7/5 |
| ELFI | Personalized support | 4.5/5 |
Federal student loans for teachers
As you look for student loans for teachers, your first stop should be federal loans. We recommend exploring federal student loans first because they are often the best bet for fixed rates and desirable terms.
Several federal loans can help you pay for school if you want to study teaching. Let’s examine your options.
| Loan | Rates | Fees | Loan limits |
| Direct Subsidized Loans | 6.53% | 1.057% | $23,000 |
| Direct Unsubsidized Loans | 6.53% | 1.057% | $5,500 – $20,500* |
| Grad PLUS Loans | 8.08% | 4.228% | Up to your school’s cost of attendance minus financial aid |
| Parent PLUS Loans | 9.08% | 4.228% | Up to the school’s cost of attendance minus financial aid |
Direct Subsidized Loans
Direct Subsidized Loans are available to undergraduates with particular financial needs. While you’re in school, the U.S. Department of Education pays the interest on the loan. You can borrow up to $23,000 in Subsidized Loans as an undergraduate student.
Direct Unsubsidized Loans
These loans are available to undergraduate and graduate students regardless of financial need. Unlike Subsidized Loans, you’re responsible for paying interest on the loan while in school. Because they aren’t based on financial need, the federal government doesn’t subsidize (pay) the interest.
You can borrow $5,500 to $7,500 yearly if you’re a dependent student. And if you’re an independent student, you can borrow $9,500 to $12,500 per year as an undergraduate student and up to $20,500 per year as a graduate student.
Grad PLUS Loans
Grad PLUS loans are available to graduate and professional students. Unlike Unsubsidized and Subsidized Loans, a credit check is required.
With a Grad PLUS Loan, you can borrow up to your school’s cost of attendance minus any financial aid you receive.
Parent PLUS Loans
Your parents can take out a Parent PLUS loan to help you pay for school. Similar to Grad PLUS loans, Parent PLUS loans require credit checks. If your parents qualify, they can borrow up to your school’s cost of attendance minus any financial assistance you receive.
Private student loans for teachers
After exhausting your Direct Subsidized and Direct Unsubsidized Loans, weigh taking out PLUS loans versus private loans to fill any funding gaps. Be sure to shop around to find the best deal for your situation.
Private student loans require credit checks, unlike Direct Subsidized and Direct Unsubsidized Loans. If you have poor credit or no credit history, you may need to apply with a cosigner with better credit.
College Ave
Best overall
5.0 /5
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Why we picked it
College Ave works with many organizations to offer student loans to teachers. For instance, it’s partnered with the National Education Association (NEA) to form the NEA Undergraduate Loan Program, which offers private student loans for educators and can help cover up to 100% of school costs, including tuition, fees, room and board. NEA members are eligible for a 0.25% interest rate discount.
- Competitive interest rates
- Choose your repayment term
- 4 in-school repayment options
| Rates (APR) | 4.22% – 17.99% |
| Loan amounts | $1,000 – 100% of certified costs |
| Repayment terms | 5 and 15 years |
Eligibility requirements
- Be at least 16 years old
- Be enrolled in an eligible school in the US.
- Have a Social Security number
- Meet the satisfactory academic progress (SAP) guidelines defined by your school
- Loan approval also depends on the borrower’s and cosigner’s credit history and income.
Sallie Mae
Why we picked it
Sallie Mae was a government program but is now a private company. It offers undergraduate and graduate loans to pay for your teaching degree.
Sallie Mae requires a cosigner if the student doesn’t have a credit history or score suggesting they can repay the loan. However, if you make full, on-time payments for 12 months in a row, your cosigner can be released, so they may be responsible for the loan for just a fraction of the term.
- Cosigner release after 12 months of consecutive on-time payments
- Repayment options include deferred fixed and interest-only repayment
- Get a decision within 15 minutes
| Rates (APR) | 4.15% – 15.70% |
| Loan amounts | $1,000 – 100% of certified costs |
| Repayment terms | 10 – 15 years |
Eligibility requirements
Sallie Mae student loans are available to U.S. citizens or permanent residents, as well as international students with a cosigner who is a U.S. citizen or permanent resident.
Students, such as teachers or aspiring teachers, seeking a professional certification or enrolled in a continuing education program can get student loans from Sallie Mae. Certain online classes may be eligible, and you don’t need to attend school full-time or even half-time.
Earnest
Best for large loans
4.7 /5
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Why we picked it
Earnest offers undergraduate and graduate loans with no fees. Aspiring teachers can use Earnest for undergraduate and graduate degrees. Enrolling in automatic payments qualifies you for a 0.25% rate discount. Earnest doesn’t charge late fees if you miss a payment due date.
- Choice of loan terms
- Grace period of 9 months after graduation
- Skip 1 payment annually once you begin repayment
| Rates (APR) | 4.17% – 16.85% |
| Loan amounts | $1,000 – 100% of certified costs |
| Repayment terms | 5, 7, 10, 12, or 15 years |
Eligibility requirements
Must attend full-time at an eligible 4-year Title IV institutionAvailable in all states except Nevada (available in Washington, D.C.)Be a U.S. citizen or permanent resident or have a cosigner who is a U.S. citizen or permanent resident
Approval will also depend on whether the borrower (or cosigner) is considered creditworthy, meaning you have three or more years of good credit history, a minimum credit score of 650, no history of bankruptcy, and a minimum annual income of $35,000.
SoFi
Best for member benefits
4.7 /5
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Why we picked it
SoFi offers student loans with competitive rates and benefits, including financial planning services, networking events, and other unique rate discounts.
It’s also easy to imagine that after you graduate from college with your teaching degree and experience more life events, such as buying your first house, you may graduate to other types of loans from SoFi—and you can take advantage of a rate discount for having multiple SoFi loans. The lender offers many financial products, including personal loans, mortgages, and banking.
- Offers fixed and variable interest rates
- No fees
- Access to financial planning services and networking events
| Rates (APR) | 4.19% – 15.86% |
| Loan amounts | $1,000 – 100% of certified costs |
| Repayment terms | 5, 7, 10, or 15 years |
Eligibility requirements
- Of legal age in your state to enter into a binding contract.
- Be a U.S. citizen, permanent resident, or non-permanent resident alien.
- Show proof of identity, such as an image or scan of a valid U.S. driver’s license with a photograph, certified birth certificate, or valid U.S. passport
You can submit an online application in a few minutes without affecting your credit score to see whether you’re eligible for a SoFi student loan.
ELFI
Best student loan advisors
4.5 /5
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Why we picked it
ELFI (Education Loan Finance) offers a personalized lending experience with the support of a dedicated loan advisor. ELFI’s advisors guide you through the application process and help tailor your repayment plan to suit your financial situation, ensuring you get the support you need.
That extra support may be helpful if the ELFI advisor can help you obtain a low-rate loan rather than one that may overwhelm your paycheck.
- Assigned a student loan advisor to assist with your borrowing needs
- Checking your rate doesn’t affect your credit
| Rates (APR) | 3.98% – 14.22% |
| Loan amounts | $1,000 – 100% of certified costs |
| Repayment terms | 5 – 15 years |
Eligibility requirements
- Borrower and cosigner must be U.S. citizens or permanent resident aliens without conditions and with proper evidence of eligibility.
- Borrower and cosigner must be of legal age in their state or older at the time of loan application.
- Student must be enrolled in a program for a bachelor’s, master’s, or doctoral degree.
You’ll need proof of employment within the last 30 days and government-issued identification to prove your eligibility.
Read More
Best private student loans
Teacher student loans vs. standard student loans
Many teachers attend graduate school after securing a teaching job, and some graduate student loans are designed for educators.
For instance, the NEA Graduate Loan Program is a partnership between the National Education Association and College Ave. It’s a customizable loan program with many repayment options. It also covers school-certified graduate school expenses beyond tuition, such as lab fees and dining plans.
Private teacher student loans aren’t much different from standard private student loans. They all promise low interest rates for qualified borrowers and generous repayment terms, but be sure to compare various lenders, so you’ll know the best terms you qualify for. Consider private lenders that market themselves as offering student loans for teachers.
Your monthly repayment amount is based on several factors, such as your repayment schedule, interest rate, and loan. Whoever offers you the best terms should win your business.
Are federal or private student loans better for teachers?
The U.S. government funds federal loans. Borrowers can get private student loans from private financial institutions, including banks, credit unions, and online lenders.
Because federal loans include benefits such as access to student loan forgiveness programs and income-driven repayment plans, we recommend you exhaust your Direct Subsidized and Unsubsidized Loan options before considering private loans—and weigh the pros and cons of PLUS loans with private loans to fill in any gaps.
| Direct Subsidized and Unsubsidized Loans | Private student loans | |
| Credit check required? | ✖️ | ✔️ |
| Must fill out FAFSA? | ✔️ | ✖️ |
| May need a cosigner? | ✖️ | ✔️ |
| Financial need-based approval? | ✔* | ✖️ |
| Income-based repayment options? | ✔️ | ✖️ |
| Eligibility for loan forgiveness? | ✔️ | ✖️ |
Federal PLUS loans vs. private loans
When deciding between federal PLUS loans and private student loans to cover any remaining educational expenses, it’s important to understand the differences. PLUS loans require a credit check and may require an endorser if you have an adverse credit history.
However, they offer fixed interest rates, which can benefit long-term planning. PLUS loans also provide access to federal benefits like income-driven repayment plans and potential eligibility for Public Service Loan Forgiveness (PSLF), which is valuable for teachers working in qualifying public service positions.
Most private student loans require a credit check and, in many cases, a cosigner to secure a favorable interest rate. Private loans can sometimes offer lower interest rates, especially if you or your cosigner have excellent credit, but they lack the federal protections and flexible repayment options that come with PLUS loans. Private loans are not eligible for PSLF, making them less advantageous for teachers planning to work in public schools or other qualifying service roles.
Private loans may offer initial interest rate advantages, but the benefits and protections of federal PLUS loans often make them a better option for teachers, especially those who may qualify for loan forgiveness programs or who need the flexibility of income-driven repayment plans.
| PLUS loans | Private student loans | |
| Credit check required? | ✔️ | ✔️ |
| Must fill out FAFSA? | ✔️ | ✖️ |
| May need a cosigner or endorser? | ✔️ | ✔️ |
| Financial need-based approval? | ✖️ | ✖️ |
| Income-based repayment options? | ✔️ | ✖️ |
| Eligibility for loan forgiveness? | ✔️ | ✖️ |
How does teacher student loan forgiveness work?
Remember: You may qualify for teacher student loan forgiveness programs, which can help reduce borrowing costs.
The federal government offers four loan forgiveness program options for certain teachers who take out federal student loans:
- PSLF
- Teacher Loan Forgiveness (TLF)
- Perkins Loan cancellation for teachers
- State-sponsored student loan forgiveness programs
Generally, the more challenging the topic you teach, and if you help students in impoverished parts of the country, the more financial assistance the federal government will give you.
For example, if you work for a government or nonprofit organization, you could qualify for PSLF. This program will forgive your remaining student loan balance after you make 120 qualifying payments. That’s 10 years, but PSLF can mean that you aren’t buried in loans for decades.
TLF forgives between $5,000 and $17,500 of eligible federal loans after five complete and consecutive years of teaching at a qualifying school. What you teach also matters: Certain highly qualified special education and secondary math or science teachers tend to get $17,500 in forgiveness; other teachers may qualify for $5,000.
Perkins Loan Cancellation for Teachers will forgive 100% of your federal Perkins student loans, and some states offer loan forgiveness to teachers, especially those who teach in high-need areas.
Can you use a teacher student loan at any college or university?
Generally, you can use teacher student loans at any college or university. With federal loans, when you apply for your school, you’ll do a “federal school code search” on the FAFSA. As long as where you want to study is accredited by the Department of Education, you can use your teacher student loan at any college or university.
This should keep you from taking out loans and paying, say, a shifty organization that isn’t really a college, university, or trade school. If the FAFSA doesn’t recognize your submitted school, you should research that school and likely study elsewhere.
If you intend to work with a teacher loan forgiveness program, make sure you teach at a qualifying school that will make you eligible to have what you owe dismissed.
How does repayment work on a teacher student loan?
Here’s what your payment could look like with the average educator’s $55,800 undergraduate federal student loan. (We assumed a 10-year standard repayment term and a fixed 4.99% interest rate.)
| Loan balance | $55,800 |
| Monthly payment | $592 |
| Total interest paid | $15,189 |
| Total borrowing costs | $70,989 |
To estimate your payments, use our student loan payment calculator.
How to apply for student loans for teachers
As you prepare to enroll in your teaching program, follow these steps to apply for your student loans.
- Complete the Free Application for Federal Student Aid (FASFA): Fill out the FAFSA before the annual deadline to apply for federal student loans. The federal FAFSA deadline for the 2024 – 2025 academic year is June 30, 2025. Your state or the college you attend may have separate deadlines, so check with both.
- Gather your documentation: For the FAFSA, you’ll need your tax returns (or your parents’ tax returns if you’re a dependent student), Social Security number (SSN) or your parents’ SSN if you’re a dependent, and your driver’s license number, if applicable.
- Wait for your award letter: Once you complete the FAFSA, your school will send you a financial aid award letter, which might include federal loans you qualify for. Then you can choose whether to accept the loan.
- Consider private student loans: Next, consider whether you want to apply with a private lender to fill in funding gaps. Gather quotes from multiple lenders before you choose the best one.
- Submit a formal application: After choosing a private student loan, you must complete an application. The process varies by lender, but you and your cosigner might need to provide the name of your school, tax returns, SSN, recent pay stubs, and the monthly amount you pay for housing.
FAQ
Do teachers get their student loans paid for?
Teachers can qualify for various student loan forgiveness programs, including PSLF and TLF. Eligibility and benefits depend on factors such as the type of loan, length of service, and the specific forgiveness program.
Can teachers write off student loans?
Teachers cannot directly write off student loans on their taxes. However, they may be eligible for certain deductions and credits, such as the Student Loan Interest Deduction, which allows the deduction of up to $2,500 of interest paid on student loans.
What is the average student loan for a teacher?
Teachers’ average student loan debt varies widely based on education level, institution attended, and geographic location. Our research found that teachers’ average student loan debt is $55,800.
Can private school teachers get student loan forgiveness?
Private school teachers may qualify for some loan forgiveness programs, such as PSLF, if they work for a qualifying nonprofit organization. However, they don’t qualify for TLF, which is for teachers in low-income public schools.
Can teachers get PSLF and Teacher Loan Forgiveness?
Teachers can qualify for both PSLF and TLF but cannot receive benefits from both programs for the same period of service. It is possible to earn TLF first and then pursue PSLF for the remaining balance.
How we selected the best student loans for teachers
LendEDU evaluates student loan lenders to help readers find the best student loans. Our latest analysis reviewed 725 data points from 25 lenders and financial institutions, with 29 data points collected from each. This information is gathered from company websites, online applications, public disclosures, customer reviews, and direct communication with company representatives.
These star ratings help us determine which companies are best for different situations. We don’t believe two companies can be the best for the same purpose, so we only show each best-for designation once.
Recap of student loans for teachers
| Lender | Best for | LendEDU rating |
| College Ave | Private student loans | 5/5 |
| Sallie Mae | Cosigners | 4.8/5 |
| Earnest | No fees | 4.7/5 |
| SoFi | Member benefits | 4.7/5 |
| ELFI | Personalized support | 4.5/5 |
