Teacher Grants and Loan Forgiveness Programs

Federal and State Aid + Types of Aid + Financial Aid + Admissions
Teacher Education Assistance for College and Higher Education (TEACH) Grant
 
Bryan College will participate in the U. S. Department of Education’s Teach Grant Program, which is being implemented for the first time for the 2008-2009 academic year. Final rules and regulations for the program will not be available until July 2008. However, the following preliminary information has been released.
 
NOTE: If you are not already committed to teaching a high-need subject in a low income school, please use caution when considering this possible source of funds. According to some estimates, only 20 percent of student who participate in the TEACH Grant Program will be able to use the funds as grants, while many students will see their funds converted to loans with accumulated interest.
 

Eligibility
· U. S. citizen or eligible non-citizen
· Enrolled in coursework or plan to complete coursework toward a career in teaching and/or in a high-need subject area
· Have a cumulative GPA of at least 3.25 as a high school graduate and maintain that GPA throughout your academic program (or score above the 75th percentile on a national standardized college admissions test)
Teaching Obligation
Recipients agree to teach for at least four (4) years within eight (8) years of finishing their teacher preparation program and to teach high-need subjects in designated Title 1 schools that serve low-income students. Failure to fulfill the commitment will result in the grants converting to Unsubsidized Stafford Loans with back dated interest payments.
High-Need Subject Areas
· Mathematics
· Science
· Reading
· Special Education
· Bilingual Education
· Other fields documented as high-need by the Federal Government, State Government, or local educational agency, and approved by the Secretary, U. S. Department of Education.
Service Agreement
Each year you receive a TEACH grant, you must sign a TEACH Grant Agreement to Serve and Promise to Pay (service agreement), which will be available electronically on the U. S. Department of Education web site. When you sign the service agreement, you are agreeing to repay the grant as a Federal Direct Unsubsidized Loan, with interest accrued from the date the grant funds were first disbursed, if you do not complete the teaching service requirement. If the grant is converted to a loan, it cannot be converted back to a grant.
Documentation
You must confirm within 120 days of completing or otherwise ceasing enrollment in your teacher preparation program that you are fulfilling (or plan to fulfill) the terms and conditions of your service agreement. You must document your teaching service, and your documentation must be certified by the chief administrative officer at the school where you teach.
Amount of Grant
This grant will provide up to $4,000 per year ($16,000 total/undergraduate).
Application Process
· FAFSA
· TEACH Grant Agreement to Serve and Promise to Pay

 
 
Teacher Loan Forgiveness Programs
 

 
Federal Teacher Loan Forgiveness Program ($5,000)
Federal Teacher Loan Forgiveness Program ($17,500)
TN Teaching Scholars Loan Forgiveness Program
Administered By
Administrative Source
Federal
Federal
State
Qualifications
  • New federal loan borrower on or after October 1, 1998
  • Teach full-time at a qualified low-income elementary or secondary school for 5 consecutive complete years
  • One year of teaching must be after 1997-98 year
  • Meet definition of “highly qualified” teacher
  • All prior qualifications in 1st column
  • Employed full-time as a math or science teacher in an eligible secondary school or a special education teacher whose primary responsibility is to provide special education to children with disabilities in an eligible elementary or secondary school
  • Tennessee resident, junior or senior, 2.75 cumulative college GPA, and full-time student
  • Obligation to teach one year at a Pre-K through 12th grade Tennessee public school for each year an award is received
  • Awards are competitive so early application is strongly recommended
Application Dates
After completion of 5 years of teaching
After completion of 5 years of teaching
Deadline of April 15 preceding the application academic year
Application Process
Application for program, letter of recommendation, college transcripts, standardized test scores
Maximum Amount Forgiven
$5,000
$17,500
Up to $4,500 per academic year with a maximum of 4 years of eligibility
Maximum Time for Forgiveness
5 years
5 years
One full year of teaching for each year an award is received
Forgiveness Process
After 5 years of teaching is complete, $5,000 will be forgiven
After 5 years of teaching is complete, $17,500 will be forgiven
Contact TSAC once employment is attained