Loans not forgiven through employment in a qualified position must be repaid in cash.
Forgivable loans will carry an interest rate of 8%. Interest will begin to accrue and cash repayment will be required in the form of monthly installments commencing no later than the 1st day of September after completion of, or 90 days after withdrawal from, the approved educator preparation program.
The cash repayment period is up to 10 years.
Cash repayment is administered by the State Education Assistance Authority (SEAA). Contact SEAA with questions at firstname.lastname@example.org.