Source of Money 26: Federally Funded TEACH Grants

Tuesdays we review a source of financial aid to help you pay for college

Becky studied English in college. She moved to California shortly after graduation and found a job as a high school English teacher. Her college education did not provide her with a teaching credential. The school district, however, paid for her to study and work on receiving her credential while she taught school.

Attributes of the TEACH Grant

The Office of the U.S. Department of Education Federal Student Aid page states

“A Teacher Education Assistance for College and Higher Education (TEACH) Grant is different from other federal student grants because it requires you to take certain kinds of classes in order to get the grant, and then do a certain kind of job to keep the grant from turning into a loan.”

The site lists that to receive a TEACH Grant, you must:

• “Meet basic eligibility for the federal student aid programs
• Complete a Free Application for Federal student Aid (FAFSA)
• Be enrolled as an undergraduate, post baccalaureate, or graduate student at a school that participates in the TEACH Grant Program
• Be enrolled in a TEACH-Grant-eligible program
• Meet certain academic requirements
• Receive TEACH Grant Counseling to understand the conditions of the grant
• Sign a TEACH Grant Agreement to Serve”

Obligations Incurred with the Grant

“The TEACH Grant program provides grants to students who are completing, or plan to complete, coursework needed to begin a career in teaching and agree to teach, for at least four complete academic years, in a high-need field at an elementary school, secondary school, or educational service agency that serves students from low-income families.”

The grant, like other federal programs, received cuts due to the congressional sequester. The site continues

“Awards for a TEACH Grant that is first disbursed after March 1, 2013 must be reduced by 6.0 percent from the award amount for which a recipient would otherwise have been eligible. For example, the maximum award of $4,000 is reduced by $240, resulting in a maximum award amount of $3,760.”

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