FOR IMMEDIATE
RELEASE
December 10, 2003
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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 Ted
Erickson (R-26).
Erickson 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
Erickson. "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.
Erickson 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.
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CONTACT: Chuck McDonald (717) 787-1350
