You may be wondering what changes are coming to the teacher financial aid program otherwise known as the TEACH grant; however, the Biden administration announced last week changes to a key grant program for teachers which appears to have been getting some feedback, but this feedback is not all good!
For those who are not familiar with what the TEACH grant maybe, according to the studentaid.gov source, it is a grant that requires you to agree to complete a teaching service obligation as a condition for receiving the grant, and if you do not complete the service obligation, the TEACH grant will be converted to a loan that you must repay. The TEACH grant offers up to$4,000 per academic year to students who plan on becoming teachers serving low-income or underserved students where you must complete a total of four elementary or secondary school years at a school or educational service agency, additionally, you must teach in a high-need field, and you must complete the required four years of teaching within eight years after you graduate. You may read more about this requirement by clicking here.
At least this is what it was, until recent announcements.
Some of the changes the administration is planning to make is:
- Providing more reminders and clearer communication
- TEACH grants will no longer have their grants converted to loans if they do not or are not able to certify their eligibility a timely manner!
- For those who had their TEACH grant converted to loans, the U.S. Department of Education has established a reconsideration process.
We cannot wait to see what the outcome of this will be.
PACG will be there every step of the way to keep you updated on this topic.
