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Standard Conditions for Loan Forgiveness 1. The candidate has up to three years to become National Board Certified® after submitting an initial application (the initial application year and two years of banked scores). The entire amount of the loan (up to $2,500) and interest will be forgiven if the candidate is currently employed as a classroom teacher in South Carolina at the time of achieving National Board Certification® (and has achieved within the three-year period). The National Board Certified Teacher (NBCT) will receive notification from CERRA that the loan obligations (up to $2,500) and interest have been satisfied. 2. In the event that the candidate does not achieve certification in the initial year of application, he/she must submit to CERRA, within ninety (90) days of score notification, a copy of the official score report from NBPTS to verify that the required ten (10) entries (complete and scorable) were submitted. This portfolio verification will qualify for forgiveness of one-half of the loan (up to $1,250) and interest. In addition, the candidate remains eligible for forgiveness of the second half of the loan for a two-year retake period, as described in other sections of this agreement (see Proviso on front cover and #1 above). 3. CERRA will forward an official list of the National Board Certified Teachers to the State Department of Education, Office of Finance and the Division of Educator Quality and Leadership (Teacher Certification), to confirm eligibility for incentives provided by the State of South Carolina (e.g., $7,500 salary supplement and recertification exemption). 4. These statements are summaries only, and do not supercede or change the applicable law or the terms of the Promissory Note and National Board Loan Agreement from the State of South Carolina.
Conditions for Loan Forgiveness for Candidates Applying from Schools with Absolute Rating of Below Average or Unsatisfactory Conditions 1, 3 & 4 listed above apply and in addition: 1. Teachers who begin the National Board process after July 1, 2007, and who teach in schools which have an absolute rating of Below Average or Unsatisfactory and wish to seek forgiveness of the SC NBC Loan must remain in a Below Average or Unsatisfactory school throughout the entire certification process. Candidates who leave a school with an absolute rating of Below Average or Unsatisfactory before certification is achieved or the entire certification process is completed will NOT be eligible for the forgiveness conditions stated in Proviso 1A.28., FY08. If the school becomes Average or above after the completed loan application is submitted, the candidate will remain eligible for forgiveness under the current Proviso provided the candidate remains in that school. 2. Candidates are required to submit the required ten (10) entries (complete and scorable) in the initial year of application to remain eligible for this loan forgiveness. 3. In the event that the candidate teaching in a school with an absolute rating of Below Average or Unsatisfactory does not achieve certification in the initial year of application, he/she must submit to CERRA, within 90 days of score notification, a copy of the official score report from NBPTS to verify that the required ten (10) entries (complete and scorable) were submitted. In addition, he/she must submit a completed Request for Loan Forgiveness form (www.cerra.org). All documents must be received at CERRA within 90 days of score notification each year certification is sought or until the initial three year cycle is ended. In the event that a candidate does not retake in year two or three, the candidate is still required to submit the completed Loan Forgiveness form to CERRA within 90 days of National Board’s score release. The loan is forgiven in the amount of one-half the loan amount plus 33% of remaining balance ($1,250 + $416) in year one, 33% ($417) in year two and 33% ($417) in year three.
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