The TEACH grant is an excellent opportunity for students who intend to pursue certain careers in education to receive free money for college from the United States government. This grant is offered in exchange for a commitment on the part of the student to teach later on provided they meet all eligibility requirements. And because the federal TEACH program carries serious financial considerations with it, students should learn as much about this type of federal grant prior to filling out an application via the FAFSA or Free Application for Federal Student Aid.
The TEACH grant provides up to $4000 per academic year to students who are enrolled in schools and programs that participate in this unique federal student aid program. This money is given in exchange for a commitment on the part of the student to teach in an elementary or secondary school that serves the needs of low income families. The teaching term is usually 4 years in order to meet all grant eligibility requirements. The qualifying student must complete these 4 years of teaching within 8 years of successfully completing the course of study for which they received the TEACH grant.
Some students see this opportunity as a chance to get free money for school now, and then worry about the consequences later when they back out of the teaching agreement. In this case, all money provided to the student via the TEACH grant will be automatically converted to a Federal PLUS Loan. Interest will be calculated into the loan as if it had been accumulating from the date of disbursement of each grant. This can have a serious financial impact on students, so it is wise to carefully give full consideration to this type of grant before applying.
The basic requirements for this and many other types of federal programs are that you be enrolled in an approved institution and course of study, possess full US citizenship and maintain minimum grades at around 3.25 GPA or within the 75th percentile of US students. More specifically, this grant requires that the student sign a new teaching commitment each year that they receive the award. Students must be enrolled in a field that is considered “high demand” for teachers in public and private low income schools. These include Foreign Languages, Science, Math, and English/reading skills; among many others.
The fastest way to determine if you are eligible for this grant is to fill out a FAFSA. Additionally, you may wish to contact financial aid officials at your school to get more information about the federal TEACH grant. Your best chance to be approved is to apply right now for the TEACH grant.
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