Forgiveness since all participating schools are fully accredited by nationally recognized
Where can I find information about scholarship programs?
Scholarships will depend on your degree type, education level you are seeking, time
teaching, and the programs that fits you best. It is important to talk to a counselor.
Should teachers consolidate their student loans if they qualify for Title I Teacher
No they should not; By consolidating loans you become inelligible for the Title I Loan Forgiveness program.
Which teachers qualify for Title I Loan Forgiveness?
Teachers who teach full-time for five academic years in a row in elementary and secondary schools that serve low-income families are eligible for $5,000 in loan forgiveness. Those teachers who work as a qualified math, science, or special education teacher in a Title I School are eligible for $17,500.
You can also apply for a Stafford Loan (which is a loan based on your income or credit). You will need your tax return from the previous year as well as your driver license in order to fill out a FAFSA applicaiton. After your FAFSA is processed, the school will review it and will let you know about your eligibility for the loan. Most often you will be assigned a financial aid advisor once you begin the program to help you solve financial questions throughout the course of the program. You must have five years of teaching experience to qualify and not have had any outstanding loan balance on a Direct or FFEL Program as of October 1, 1998.
Will my income or credit affect the chances of qualifying for Stafford Loans?
Your income and credit can have some effect in certain cases. The financial advisor assigned to you should be able to answer the specifics.
What is a Pell Grant? How is it obtained?
A Federal Pell Grant, unlike a regular loan, will not have to ever be repaid. Pell Grants are usually awarded only to undergraduate students who have not yet earned a bachelor's degree or other professional degree.
To obtain the grant you must fill out a FAFSA and meet the requirements for receiving the grant.
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 (aka T.E.A.C.H.) Grant Program that provides grants for as much as $4,000 per year to students who intend to teach in an elementary or secondary school that serving students from low-income families. If you would like to learn more about the TEACH Grant Program, contact the financial aid office at the college where you are/will be enrolled.
What is necessary to receive a TEACH Grant?
In exchange for receiving a TEACH Grant, you will need to agree to serve as a teacher, in a needed field, in a school that serves low-income students (see below for more information on high-need fields and schools serving low-income students). You will be required to teach for at least four academic years within eight years of completing the program of study for which you received the grant.
To receive a TEACH Grant you must –
- Complete the Free application for Federal Student Aid (FAFSA).
- Be a citizen of the U.S. or and eligible non-citizen.
- Already be enrolled as an undergraduate, post-baccalaureate, or graduate student in a postsecondary educational institution that has decided to be part of the TEACH Grant Program.
- Be enrolled in the coursework that is required to start a career as a teacher or are planning to complete such coursework.
- Meet particular achievement requirements. Generally, scoring at or above the 75th percentile on college admissions tests or maintaining a GPA of at least 3.25 will suffice.
- Sign the TEACH Grant Agreement to Serve.
Do TEACH Grants need to be repaid?
If you receive a TEACH Grant and do not complete the mandatory teaching service you will need to repay the grants as a Federal Direct Unsubsidized Stafford Loan.