Loan Cancellation/Repayment Programs
There are jobs after graduation that will allow students to reduce or cancel their student loan payments.
Military
The Loan Repayment Program (LRP) is a special enlistment incentive offered to qualified applicants at the time of enlistment. Under the LRP, the Army will repay one-third of your loan for each year of full-time duty served.
APLE
Assumption Program of Loans for Education repays a maximum of $11,000 in Federal Loans for selected students holding a California Teaching Credential and teaching in a public K-12 school system. Students apply for APLE prior to entering the California State University, Stanislaus Teacher Credential Program. Application information is available from the Teacher Education Department on campus.
Federal Loan Forgiveness
Higher Education Amendments of 1998 established a Teacher Service Forgiveness program for new Direct Loan borrowers with no outstanding loan balance on October 7, 1998. You should contact the Financial Aid Office for additional updates on this program.
Perkins Loan
Borrowers who teach full-time in designated elementary or secondary schools serving low-income students, full-time teachers in certain subject areas and full-time teachers of handicapped children may have up to 100 percent of their Perkins Loan debt cancelled. Certain other public service professions also qualify for Perkins Loan cancellation. Contact the Financial Services Office in MSR 270 if you received a Perkins Loan and believe you qualify for one of these options.
SNAPLE NF
State Nursing Assumption Program of Loans for Education for Nursing Faculty (SNAPLE NF) - This program is intended to encourage students to complete a baccalaureate or graduate degree and teach in a nursing program at a regionally accredited college or university in California. It will pay up to a total of $25,000.00 over the course of 3 academic years on a full-time basis, or on a part-time basis for the equivalent of three full-time academic years, on outstanding student loans for nursing faculty. A person must be a student enrolled in or admitted to a program, in which they will be enrolled at least half-time each academic term, making satisfactory academic progress, and be nominated for participation in the program by their institution.
SNAPLE NSF
State Nursing Assumption Program of Loans for Education for Nurses in State Facilities (SNAPLE NSF) – This program is intended to encourage registered nurses and students who will become registered nurses to seek employment in state-operated 24-hour facilities with a registered nurse vacancy rate of greater than 10%. It will pay up to a total of $20,000.00 on outstanding student loans for full-time employment service as a registered nurse in an eligible position in a state-operated 24-hour facility with a registered nurse vacancy rate of greater than 10%. Applicants may be students in an approved pre-licensure program or may have completed a program or may hold a license to practice as a registered nurse in California
NG APLE
National Guard Assumption Program of Loans for Education (NGAPLE) — This program is intended to provide an incentive for persons to enlist or reenlist in the National Guard, the State Military Reserve, or the Naval Militia, within the meaning of Section 66025.6 of the Education Code, who seek or have completed degrees at institutions of higher education within this state, or who are enrolled in or have completed a program of instruction in a vocational diploma program. It will pay up to a total of $11,000.00 on outstanding student loans for four consecutive years of service.