Minority Teacher Forgivable Loans
- Junior, Senior, or Graduate status enrolled at least half-time.
- Wisconsin Minority resident (African American, American Indian, Hispanic, and South-East Asian i.e. Hmong, citizens or descendants of Laos, Cambodia, or Vietnam admitted to the U.S. after December 31, 1975).
- Enrolled in a Teacher Certification program.
- GPA of 2.5 or higher.
- Can be awarded regardless of need.
- Interest rate is 5%. Interest is deferred until the beginning of the repayment period
- Awards range from $250-$2,500 per academic year and the aggregate limit is $5,000 for the entire academic career.
- Loan may be 100% forgiven if borrower meets certain employment criteria.
- Borrowers ineligible for loan forgiveness will begin repayment six months after graduating, leaving school, or dropping below half-time enrollment. Repayment must be completed within 10 years of the date repayment begins.
- Loan documents are typically mailed to eligible students between June - August. They must be returned to the Financial Aid Office within the time frame stated if interested in the loan.