I know there has been some discussion on this site about this, but I'm not sure about this particular question. In the US if you teach at a public school for 10 years on a pay-as-you-earn plan you can have your loans forgiven. Is this possible if you teach at a non-profit "American" International School?
Also, are there many International Schools that teach an AP curriculum besides the specifically listed "American" schools?
Loan Forgiveness?
Re: Loan Forgiveness?
Yes. If the school has 501c3 status, you will qualify for PSLF. Even if it's not 501c3, it may still qualify based on its not for profit status, but you will need to check. I am 3 years into my PSLF payments and my husband is 6 years into his - all from working internationally.
I can't answer your question about the AP curriculum. In my experience, however, AP classes are predominately offered by "American" schools.
I can't answer your question about the AP curriculum. In my experience, however, AP classes are predominately offered by "American" schools.
Re: Loan Forgiveness?
Thank you Marieh. Does it have to be an "American" International School, or can it be any school that is non-profit. I've heard different answers from different representatives from fedloans, so I was hoping for some clarification.
Re: Loan Forgiveness?
The answer truly is "it depends on who is reading your application." If you read the PSLF requirements, it's very unclear and says that you can get credit for working at an educational institution. I basically applied for all of the positions I have held overseas: hagwon, a government school in Korea, a private for-profit school in SEA, and now my current job at a 501c3. My experience for the government school in Korea and my current job applied, the other months of payments did not.
If you are asking this question in regards to your current school, I recommend that you apply and see what happens. If this is going to dictate your next job, the only safe bet is a 501c3. I would not trust that any other school, American or otherwise, would be accepted.
If you are asking this question in regards to your current school, I recommend that you apply and see what happens. If this is going to dictate your next job, the only safe bet is a 501c3. I would not trust that any other school, American or otherwise, would be accepted.
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wrldtrvlr123
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Re: Loan Forgiveness?
Working for DoDEA overseas qualifies. As for int'l schools, I would agree that the answer is, it depends.
Response
"American" in AS means nothing. Nothing about naming conventions is usually regulated. If the IS is a registered 501C non-profit it is more likely to count. There are DTs int he states at private DSs whose DSs are 501C and there service and payments dont count. There is a difference between "public" institution and "non-profit". It can also matter what subject you teach.
It really does depnd though who is reading your application, as these decisions are made by the lenders not some central administration. One bank might approve a request where another does not.
Theres a strong case to be made that a 501C is going to be your best option, but there are a lot of "non-profit" ISs (most of them) and it doesnt mean very much.
DODEA absolutely qualifies.
AP is offered by a lot of ISs that arent ASs. Its an entirely externally moderated program (outside of their diploma program) and is one of the easiest and cheapest programs to set up. You find it common in lower third tier ISs that dont otherwise have much in the way of accreditation.
It really does depnd though who is reading your application, as these decisions are made by the lenders not some central administration. One bank might approve a request where another does not.
Theres a strong case to be made that a 501C is going to be your best option, but there are a lot of "non-profit" ISs (most of them) and it doesnt mean very much.
DODEA absolutely qualifies.
AP is offered by a lot of ISs that arent ASs. Its an entirely externally moderated program (outside of their diploma program) and is one of the easiest and cheapest programs to set up. You find it common in lower third tier ISs that dont otherwise have much in the way of accreditation.
Re: Loan Forgiveness?
501c3 is the official designation for a federally recognised not-for-profit.
Discussion
@marieh
Not really. The USG doesnt perform the registration or oversight of non-profits. That power is designated to the states, typically the States SOS. 501C is part or the tax (IRS) code that allows the entity to receive certain deductions based on a number of defining characteristics, further grouping them into distinct categories. A 501C3 while being the most common isnt the only "non-profit" an IS could be organized at a 501C7 or 501C8 and be non-profit. Which still wouldnt mean much in terms of qualifying for public loan forgiveness, as a UK CIO would have a better probability of recognition, and be easier to identify, and a municipal IS (publicly funded, government regulated) would give you the best chance of qualifying despite not being a 501C3 organization.
There are many, many (most) ISs that are "non-profit" that dont fulfill the requirement of actually being in public service.
Not really. The USG doesnt perform the registration or oversight of non-profits. That power is designated to the states, typically the States SOS. 501C is part or the tax (IRS) code that allows the entity to receive certain deductions based on a number of defining characteristics, further grouping them into distinct categories. A 501C3 while being the most common isnt the only "non-profit" an IS could be organized at a 501C7 or 501C8 and be non-profit. Which still wouldnt mean much in terms of qualifying for public loan forgiveness, as a UK CIO would have a better probability of recognition, and be easier to identify, and a municipal IS (publicly funded, government regulated) would give you the best chance of qualifying despite not being a 501C3 organization.
There are many, many (most) ISs that are "non-profit" that dont fulfill the requirement of actually being in public service.