Fund Your Masters Degree With The TEACH Grant
Sunday, November 13th, 2011Most teachers end up earning a Master’s degree in Education, either right after completion of a Bachelor’s degree or later in their careers. A Master’s degree is necessary to remain qualified and relevant in the field of education, but it can be a costly investment. If you need assistance paying for your Master’s degree in Education, you may qualify for some federal assistance in the form of a TEACH grant. Though a TEACH grant has very strict requirements for eligibility, it can be a great opportunity for the right candidate to receive much-needed help paying for a Master’s degree.
TEACH stands for Teacher Education Assistance for College and Higher Education. These grants come in amounts of up to $4,000 per academic year, and it is not based entirely on financial neediness. Rather, TEACH grants are made available to educators willing to commit to serving low-income, high-need areas as designated by the federal government. Analyzing the value of EarnMyDegree Online can speed your success.
To qualify for a TEACH grant, you must be a US citizen who plans to take coursework related to becoming an educator. Applicants must be enrolled in a postsecondary institute that chooses to participate in TEACH. You also must meet academic requirements such as a GPA of 3.25 or better or scoring above the 75th percentile in an admissions test in order to receive TEACH funding.
A TEACH grant is an award that does not have to be repaid as long as you uphold your end of an agreement with the federal government. The terms of the agreement are that you must be employed in a low-income, high-need area for a minimum of four out of the first eight years following graduation from your TEACH-funded program. Your employment can be in elementary or secondary education in either a public or private school, as long as the low-income requirements are met and you are filling a high-need position.
The high-need areas currently specified by the federal government are bilingual education, foreign languages, math, science, specialized reading instruction, and secondary education. These are areas in which there is currently a shortage of teachers, so these high-need areas are subject to change. You can review a more detailed listing, which includes state-by-state shortages and also particular schools which are experiencing teacher shortages, by accessing the Department of Education Annual Teacher Shortage Area Nationwide Listing.
If you are awarded a TEACH grant but you neglect to serve for four years in a designated high-need field in a low-income area, you will be subject to repaying your TEACH grant. The grant will be converted into a Federal Unsubsidized Stafford Loan. You will be responsible for paying back interest on each grant since the date of its disbursement. Staying well informed with the most up to date information about how online Masters degree can influence your future, is a smart move.
If you think that you will be able to meet the requirement of a TEACH grant, check in with your financial aid office to make sure your school is a TEACH participant. You must also submit your FAFSA in a timely manner. FAFSA stands for Free Application for Federal Student Aid, and it is available on the first of each year.
Getting a Master’s degree in Education is a worthy goal, and you deserve to receive federal funding to help with your graduate school expenses. For the right person, a TEACH grant can not only fund your education but help you to change the lives of students who need you. EarnMyDegree.com is a good resource for additional details about getting your online Masters degrees.
