The U.S. Department of Education opened an opportunity for teachers with TEACH Grants. These grants were converted to Direct Unsubsidized Loans.
The TEACH Grant Program provides grants of up to $4,000 a year to students who are completing or plan to complete course work needed to begin a career in teaching. Recipients of TEACH Grants must agree to a variety of requirements, including teaching:
- In a high-need field
- At an elementary school, secondary school, or educational service agency that serves students from low-income families
- For at least four complete academic years within eight years after completing (or ceasing enrollment in) the course of study for which you received the grant.
National Public Radio (NPR) recently highlighted the problems with the administration of Teach Grants and how many teachers lost their grants—meaning they were responsible for repaying the loans with devastating financial effect. Learn more