One of education’s most profound characteristics is that when it’s administered well, it ultimately benefits all of society. The government and other organizations know this, and they often devote resources to ensuring that the educational system is stocked with the highest quality teachers possible.
One of the best ways to support these amazing teachers is to provide qualified candidates with potential financial aid opportunities and other resources for paying for their own education. This article outlines some of the forms of financial aid that may available to qualified teachers.
Teacher Loan Forgiveness Programs
Teach for America Student Loan Repayment Assistance
Grants and Scholarships for Teachers
Teacher Loan Forgiveness Info
One goal of the government is to provide better education to underserved areas and populations. It therefore may offer financial aid for qualified individuals working for, in, and with particular organizations, areas, and populations. One type of financial aid that may be available for qualified students is teacher loan forgiveness.
To determine whether or not you may qualify for teacher loan forgiveness, you’ll need a couple of key pieces of information:
Names of the types of loans you have: Direct Loans, FFEL Program Loans, Federal Perkins Loans, or PLUS Loans. You also need to know if your loans are subsidized or unsubsidized and for how long you’ve been paying them back.
The government’s terms for loan discharge, forgiveness, and cancellation. You can obtain more information through the U.S. Department of Education’s Federal Student Aid page[i].
Some teachers with Direct Loans and FFEL Loans may qualify for teacher loan forgiveness or cancellation after teaching for five consecutive years in a designated elementary or secondary school. To qualify, teachers must also meet other eligibility criteria[i]. Teachers with the same loans might also qualify for Public Service Loan Forgiveness[ii].
Qualified teachers with Federal Perkins Loans may qualify for teacher loan forgiveness through a variety of programs. Qualified educators employed through particular schools, organizations, or governmental entities; qualified educators working in particular specializations; and educators serving certain populations may be eligible.[i]
Teach for America Student Loan Repayment Assistance Info
Teach for America is a program that puts teachers to work in the classroom as they complete alternative teacher preparation programs and earn their certificates. Teachers in this program are placed by the government in areas of education currently underserved. Programs like this one help the government respond to specific needs and enable teachers to be trained and educated through a highly supportive program.[iii]
Teachers of America may qualify for special financial aid reserved solely for them. By being TFA Corps members, teachers of America may become eligible for certain scholarships and grants, and they might also receive discounts from retailers. In addition, in some areas, TFA Corps members may become eligible for housing assistance, bonus programs, and loan forgiveness. Finally, the government grants qualifying Teachers of America loan forbearance opportunities, and TFA might also pay the interest for unsubsidized government loans through the duration of the qualifying teacher’s TFA program.[iii]
Info on Grants and Scholarships for Teachers
Teachers are often considered beloved members of our society thanked by organizations through grants and scholarships that may be available especially for qualified teaching students. Teacher grants and scholarships that may be available to qualified students are sums of money that don’t have to be paid back, and they might be used to help teachers pay for tuition, books, and other educational and living expenses, depending on the particular grant or scholarship requirements. Here is some information on grants and scholarships that may be available for qualified teachers:
The Inspired Teacher Scholarships: This scholarship may give $1000 to qualified current teachers to use for personal development or new technology.
Teacher Fellowships Info
Fellowships are much like mentorships in that they allow qualifying teachers and graduate students to work closely with skilled professionals and educators in the field of education. Through fellowships, teaching fellows might work in schools, district offices, governmental offices, NGOs, or nonprofits. Qualified teaching fellows may earn income and/or receive grants and scholarships for graduate-level education. A couple of examples of teaching fellowships include:
The Allen Grossman Teaching Fellowship: This John Hopkins fellowship pays full tuition and gives a living stipend of $18,000 to qualified graduate students with teaching experience.
Supporting those individuals who are willing to take on the challenge of educating and inspiring future generations is a mission supported by many governmental and non-governmental entities. If you are interested in earning a graduate degree in education be sure to check out financial aid options that may be available for qualifying teaching graduate students.