The TEACH Grant Program provides grant funding of up to $4,000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families AND in high need fields.
The U.S. Department of Education estimates 80 percent of all students who receive a TEACH "grant" will fail to meet the service agreement based upon stringent program rules.
The majority of students will incur additional loan indebtedness and mandatory backdated interest to when the student first received funding under this program. Please fully understand the rigid parameters of the TEACH grant program before you proceed.
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Although this program is called a grant, the dollars awarded within this program are initially a form of a federal unsubsidized loan. The loan converts to a grant after the student completes a mandated service obligation with the U.S. Department of Education which requires that a student teach full-time for 4 years within an 8 year period after completing or ceasing to be enrolled in their degree program.