In an effort to encourage its education graduates to become K-12 schoolteachers, Stanford University has matched a donation to create a $20 million loan-forgiveness program, according to a press release from the university.
University officials said students are often discouraged from entering public education due to financial restrictions, a trend they aim to buck with the program.
Deborah Stipek, dean of Stanford’s School of Education said that loan-forgiveness programs are common in law and business, but not in education schools.
The program will be available for students who graduate from Stanford’s Teacher Education Program (STEP) and teach for four years in a public school. Under the program, graduates who complete the requirements will not have to repay their loans.