Financial aid for teachers
Teachers play an important role in educating next generation. Qualified primary and secondary school teachers are having huge demand for their services for the subjects Mathamatics and Science. The government has been trying to make teaching profession more attractive by offering some specific Financial Aid Programs.
The major financial source for teachers is the federal government. The federal government assists the students with grant and loans Financial Aid Programs. State governments also sponsors award amount to the students with the assistance of various private foundations such as corporations, civic associations, unions, fraternal organizations, and religious groups. Apart from the above, many private companies also offer fee reimbursement to their employees and their dependents. Some colleges also offers Institutional Aid received from various organizations to their students who wish to start their career as teachers.
The Federal Government offers some incentives in the form of Financial Aid Programs to the teachers. They are:
1. TEACH Grant: TEACH grant is designed by the president Bush Government under the College Cost Reduction and Access Act. The Teacher Education Assistance for College and Higher Education Grant (TEACH) will helps the students,who were decided to teach in-demand subjects like math, science, foreign language, and special education at low-income schools. The grant amount ranges up to $4,000 to $16,000.Grants with less amounts also designed for the graduate school students who plan to teach. Contact your Financial Aid Office and fill the FASFA.Based on the demonstrated need in FASFA from Financial Aid Amount will be determined.
The minimum eligibility will be:
* Should be enrolled for a college or university participating in TEACH grant
* Should maintain minimum GPA of 3.25
* Should be a US citizen
* Should sign a TEACH Grant Agreement to Serve (ATS)
2. Federal Perkins Loan Teacher Cancellation: This fund program is created for the students who wish to become teachers, counselors or librarians in primary or secondary schools. They can also cancel their Perkins loans after working in low-income areas. But students are required to teach high demand subjects for the eligibility.
3. Educator Expense IRS Deduction: Educator Expense IRS Deduction is established to the teachers and educators who purchases books, supplies, equipment and software used in the classroom can deduct these costs from their income.
4. Teach for America: Teach for America offers financial assistance to the graduate students who are ready to teach in low-income communities for at least two years. This program doesnt require teaching high-demand subjects, and teacher certification also not required. The eligible candidates for this program are also eligible for AmeriCorps grants as well as temporary student loan deferments.
Below are some of the scholarships offered by the private organizations to the teachers:
1. Albert Einstein Distinguished Educator Fellowships
2. American Association of University Women Eleanor Roosevelt Teacher Fellowships
3. Council of Basic Education
4. Department of Defense Education Gateway
5. Dow Jones Newspaper Funding High School Teacher Program
6. Earth watch Education Fellowship Program
7. National Endowment for the Humanities
8. National Science Teachers Association Awards and Competitions and Higher Education (TEACH) Grant Program