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For Immediate Release
December 8, 2003
Loan Forgiveness Program Created
for Early Childhood Education Professionals
Harrisburg -- A new program has been
launched aimed at recruiting and retaining child care workers in
Pennsylvania, according to state Mary Jo White (R-21).
White said the Quality Early Education
Loan Forgiveness program offers up to $9,900 in student loan
forgiveness. The program will forgive up to one-sixth of the borrower's
qualifying loan debt with a maximum of $3,300 per year for three years.
Monthly installments will be applied to
the recipient's student loan account instead of the borrower making
monthly payments on outstanding principal, making loan repayment more
convenient and affordable for recipients.
"Hiring and retaining competent child care
workers is an ongoing challenge, and one that the Commonwealth has to
successfully meet," said White. "Because worker quality is related to
education levels, this loan forgiveness program could increase the
quality of care at child care centers and group daycare homes."
Applicants must have earned either a
Bachelor's degree and Pennsylvania Early Childhood Certification or an
Associate's degree in Early Childhood Education or Child Development
during the 2003-2004 academic year. The applicant must be a resident of
Pennsylvania and have an undergraduate loan that is guaranteed or
serviced by the Pennsylvania Higher Education Assistance Agency (PHEAA)
or American Education Services. Applicants may not be in default on any
federally guaranteed student loan.
In addition, applicants may not have a
gross annual income of more than $23,000 from employment in a
Pennsylvania Department of Public Welfare-approved child daycare center
or group child daycare home. The applicant must be employed full-time by
this establishment within six months of entering into the Stafford loan
grace period and must maintain employment to remain eligible for the
loan forgiveness.
White said the new program will be
self-funded by the PHEAA at no additional cost to taxpayers.
Applications and more information on the program are available at the
senator's district offices or by contacting PHEAA at 800-233-0557 or at
www.pheaa.org.
CONTACT:
Leigh Ramsey (717) 787-9684
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