Detailed Summary

Teacher Education Assistance Creating Hope for Our Future Act of 2008 or the TEACH for Our Future Act of 2008 - Amends the Higher Education Act of 1965 to expand the loan forgiveness available to public elementary and secondary school teachers under the Federal Family Education Loan (FFEL) and Direct Loan (DL) programs.

Makes inapplicable to public school teachers the requirements limiting loan forgiveness to: (1) new borrowers on or after October 1, 1998; and (2) highly qualified teachers in certain schools that serve a high proportion of disadvantaged students. Maintains the requirement that such teachers teach full-time for five consecutive complete school years before becoming eligible for loan forgiveness.

Raises to $25,000 the amount of the FFEL or DL outstanding that may be forgiven after a public school teacher's fifth complete school year of teaching.

Maintains current loan forgiveness eligibility requirements for private elementary and secondary school teachers.

Status of the Legislation

Latest Major Action: 5/22/2008: Referred to House committee. Status: Referred to the House Committee on Education and Labor.

Points in Favor

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Points Against

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