Financial Resources

Where can I find information about scholarships?

Scholarships and scholarship amounts will depend on your degree program, level of education you are pursuing, teaching experience, and a program that is the best fit for you. That is why it is important to talk to an Enrollment Counselor. They are qualified individuals who have years of experience in the education industry and will come up with a customized degree program that best fits your needs. They will evaluate your experience and background information to consider what scholarships and financial programs for which you may qualify.

Where can teachers qualify for $7500 scholarship for math and science masters degrees?

Teachers who teach in rural school districts and intend on pursuing a masters in math or science are eligible to receive a $7500 scholarship.

Should teachers that qualify for Title I Loan Forgiveness Consolidate their Loans?

No, by consolidating your loans you are not eligible for the Title I Loan Forgiveness program.

Which teachers qualify for $5,000 or $17,500 in Title I Loan Forgiveness?

Individuals who teach full-time for five consecutive complete academic years in certain elementary and secondary schools that serve low-income families are eligible for $5,000 in loan forgiveness. Individuals who are employed as a highly qualified math, science, or special education teacher in a Title I School are eligible for $17,500

What are the two biggest issues that may make me ineligible for Title I Teacher Loan Forgiveness?

You can apply for a Stafford Loan (FFEL) which is a loan that is not based on your income or credit. You will need your tax forms from the previous year in addition to your drivers license in order to fill out a FAFSA. After your FAFSA is processed, your school will review the results and will inform you about your loan eligibility. Typically you will be assigned a financial aid advisor once you begin your program to help you with any financial questions during your program.You must not have had an outstanding balance on a Direct or FFEL Program loan as of October 1, 1998. Plus, have five years of teaching experience

(If you still have questions about eligibility requirements, please click on the link below. ) http://studentaid.ed.gov/PORTALSWebApp/students/english/cancelstaff.jsp

How do I know if my school is considered a Title I or Low Income School?

Please click on the link below to search for your school. https://www.tcli.ed.gov/CBSWebApp/tcli/TCLIPubSchoolSearch.jsp

Will my credit or income affect my chance to qualify for Stafford Loans?

To read more about Stafford Loans click on the link below. http://www.studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp

(You will not be eligible for a Stafford Loan if you are not a U.S citizen and have been convicted of a drug felony. If you have defaulted on a student loan you will need to be caught up on your payments and be in good standing with your lender.)

What is a Pell Grant & how do I obtain a Pell Grant?

A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor's or a professional degree.

To obtain a grant you must fill out a FAFSA and meet the qualifications for receiving a grant. Grant amounts are dependent on: the student's expected family contribution (EFC); the cost of attendance (as determined by the institution); the student's enrollment status (full time or part time); and whether the student attends for a full academic year or less.

What is the TEACH Grant Program?

Through the College Cost Reduction and Access Act of 2007, Congress created the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program that provides grants of up to $4,000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families. If you are interested in learning more about the TEACH Grant Program, you should contact the financial aid office at the college where you will be enrolled starting with the 2008-2009 school year.

What are the conditions of recieving a TEACH Grant?

In exchange for receiving a TEACH Grant, you must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low-income students (see below for more information on high-need fields and schools serving low-income students). As a recipient of a TEACH Grant, you must teach for at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant. IMPORTANT: If you fail to complete this service obligation, all amounts of the TEACH Grants that you received will be converted to a Federal Direct Unsubsidized Stafford Loan. You must then repay this loan to the U.S. Department of Education. You will be charged interest from the date the grant(s) was disbursed.

What are the eligibility requirements for a TEACH Grant?

To receive a TEACH Grant you must –

  • Complete the Free Application for Federal Student Aid (FAFSA), although you do not have to demonstrate financial need.
  • Be a U.S. Citizen or eligible non-citizen.
  • Be enrolled as an undergraduate, post-baccalaureate, or graduate student in a postsecondary educational institution that has chosen to participate in the TEACH Grant Program.
  • Be enrolled in coursework that is necessary to begin a career in teaching or plan to complete such coursework. Such coursework may include subject area courses (e.g., math courses for a student who intends to be a math teacher).
  • Meet certain academic achievement requirements (generally, scoring above the 75th percentile on a college admissions test or maintaining a cumulative GPA of at least 3.25).
  • Sign a TEACH Grant Agreement to Serve (see below for more information on the TEACH Grant Agreement to Serve).

What is considered a High Need field?

High-need fields are the specific subject areas identified below –

  • Bilingual Education and English Language Acquisition.
  • Foreign Language.
  • Mathematics.
  • Reading Specialist.
  • Science.
  • Special Education.
  • Other identified teacher shortage areas as of the time you begin teaching in that field. These are teacher subject shortage areas (not geographic areas) that are listed in the Department of Education’s Annual Teacher Shortage Area Nationwide Listing at http://www.ed.gov/about/offices/list/ope/pol/tsa.doc.

What is the TEACH Grant Agreement to Serve?

Each year you receive a TEACH Grant, you must sign a TEACH Grant Agreement to Serve that will be available electronically on a Department of Education Web site. The TEACH Grant Agreement to Serve specifies the conditions under which the grant will be awarded, the teaching service requirements, and includes an acknowledgment by you that you understand that if you do not meet the teaching service requirements you must repay the grant as a Federal Direct Unsubsidized Loan, with interest accrued from the date the grant funds were disbursed. Specifically, the TEACH Grant Agreement to Serve will provide that –

  • For each TEACH Grant-eligible program for which you received TEACH Grant funds, you must serve as a full-time teacher for a total of at least four academic years within eight calendar years after you completed or withdrew from the academic program for which you received the TEACH Grant.
  • You must perform the teaching service as a highly-qualified teacher at a low-income school. The term highly-qualified teacher is defined in section 9101(23) of the Elementary and Secondary Education Act of 1965 or in section 602(10) of the Individuals With Disabilities Education Act.
  • Your teaching service must be in a high-need field.
  • You must comply with any other requirements that the Department of Education determines to be necessary.
  • If you do not complete the required teaching service obligation, TEACH Grant funds you received will be converted to a Federal Direct Unsubsidized Stafford Loan that you must repay, with interest charged from the date of each TEACH Grant disbursement.

Do TEACH Grants need to be repaid?

If you receive a TEACH Grant but do not complete the required teaching service, as explained above, you will be required to repay the grants as a Federal Direct Unsubsidized Stafford Loan, with interest charged from the date of each TEACH Grant disbursement.