Grant Money to Become a Teacher

Did you know that job opportunities for teachers over the next 10 years will vary from good to excellent, depending on the location, grade level, and subject taught? It's true. Most job openings will come from replacing the large number of teachers who are expected to retire over the 2006-16 period. Additionally, many beginning teachers, especially those in poor, urban schools, will leave teaching for other careers after a year or two.

Financial Aid for Teaching Degrees

If you're thinking about embarking on a teaching career, you may be able to get some financial help. Take a look at the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program. According to the Federal Student Aid website, it provides grants of up to $4,000 per year to students who intend to teach a high-need subject area, in a public or private elementary or secondary school, which serves students from low-income families.

These are the High-Need Areas for Teachers:

• Bilingual Education and English Language Acquisition
• Foreign Language
• Mathematics
• Reading Specialist
• Science
• Special Education

TEACH Grant Program Conditions

There is one important condition: you must teach for at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant. A word of warning: If you receive a TEACH Grant but do not complete the mandatory teaching service, you will be required to repay the grants as a Federal Direct Unsubsidized Stafford Loan, with interest charged from the date of each TEACH Grant disbursement.

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