Forney ISD works with employees to review documents that may be requested to allow for loan forgiveness, validate criteria for various programs and complete requested verification when validation of eligibility has been completed. There are various programs which potentially allow for loan forgivenss for qualified employees. Links to the most common programs are shown below.
- Public Service Loan Forgiveness
- TEACH Grant (Applied for while attending college.)
- Teacher Loan Forgiveness (Requires 5 years as a highly qualified teacher at a designated "low income" school and other criteria. Specifics apply.)
These programs can be accessed directly by qualifing employees through their own research.
The district is also making available a service through its third-party benefit administrator, Gentry Financial and GotZoom, a company that works with benefit providers to research student loan situations and evaluate individual characteristics in an effort to identify the best loan forgiveness programs on an individualized basis. The intial assessment provided by GotZoom is available at no charge. There is no financial commitment required to take advantage of the assessment. However, once an assessment report is received, there is a processing fee due of $407 in addition to monthly maintenance fees of approximately $33/month. Participation in this program is completely optional/voluntary. Employees should be able to evaluate the asseessment provided by GotZoom to determine whether it would be worthwhile to participate in the loan forgiveness program recommend. The potential advantage for employees is GotZoom's specialized knowledge in this area and the potential to identify forgiveness programs that could be missed by independent research done by employees with student loans.