Tennessee Math and Science Teacher Loan Forgiveness Program
The Tennessee Math & Science Teacher Loan Forgiveness Program provides financial assistance to Tennessee public school teachers seeking an advanced degree in a math or a science, or a certification to teach a math or a science. Loan forgiveness requires employment in a Tennessee public school system two (2) years for each year of the loan funding received.
- Subject to the amounts appropriated by the general assembly and any provision of law relating to a shortfall in funds available for postsecondary financial assistance from the net proceeds of the state lottery, a Math & Science Teacher Loan to a Tennessee public school teacher shall be two thousand dollars ($2,000) per academic year, regardless of the number of terms enrolled within that academic year. The total amount of a Math & Science Teacher Loan to a Tennessee public school teacher shall not exceed ten thousand dollars ($10,000) for all years required for the teacher’s program of study.
- The Corporation shall disburse Math & Science Teacher Loan funds directly to eligible postsecondary institutions, which shall in turn credit the student’s account or disburse funds to eligible students with one credit or payment at the beginning of each academic term.
In order to receive a Math & Science Teacher Loan, a student must:
- Be a citizen of the United States; and
- Be a resident of Tennessee, as defined by regulations promulgated by the board of regents for the state university and community college system, under the authority of TCA § 49-8-104 where applicable for one (1) year immediately preceding the date of application; and
- Meet the requirements of TCA § 49-4-905(a); and
- Be admitted to and attend an eligible postsecondary institution seeking an advanced degree in math or a science or certification to teach math or a science; and
- Agree to teach math or a science in a Tennessee public school system one (1) academic years for each year funded provided by this program and sign a promissory note that stipulates the cash repayment obligation incurred if the teaching service is not fulfilled; and
- Maintain satisfactory academic progress in the teacher’s program of study with no minimum number of hours required per semester; and
- Complete the program of study within five (5) years beginning with the first term for which the loan was awarded; and
- Not allow a break in enrollment at an eligible postsecondary institution of more than twelve (12) months. If the break in enrollment exceeds twelve (12) months, the borrower enters the grace period followed by repayment.
- A course taken to qualify a student for re-certification shall not be a course taken for receipt of a Math & Science Teacher Loan.
- A borrower who completes the program of study for which a Math & Science Teacher Loan was provided and who subsequently satisfies the terms of the loan in full, either through repayment or cancelation, is not prevented from participating in the Tennessee Math & Science Teacher Loan Forgiveness Program again, in order to gain certification or an advanced degree in a different area of math or science.
Tennessee tenured public school teachers shall submit to the Corporation an on-line application and Promissory Note for a Math & Science Teacher Loan for each academic year.
The application deadline is September 1 for students beginning the academic year in the fall, February 1 for students who begin the academic year in the spring, and May 1 for students who begin the academic year in the summer.