1 / 23

2013-2014 TEACH Grant

2013-2014 TEACH Grant. William Adamchik, Student Financial Aid Betty Hampton, College of Education Margaret Pentecost, College of Education.

heba
Download Presentation

2013-2014 TEACH Grant

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 2013-2014TEACH Grant William Adamchik, Student Financial Aid Betty Hampton, College of Education Margaret Pentecost, College of Education

  2. Through the College Cost Reduction and Access Act of 2007, Congress created the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program that 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 that serves students from low-income families. TEACH Grant Program

  3. Up to $4,000 per year • Undergraduate study (4-year programs) • Graduate study (Master’s) • Prorated for part-time attendance • Total of $16,000 for undergraduate study • Total of $8,000 for graduate study Grant Amounts

  4. As a result of sequestration, funding for the TEACH Grant has been reduced. Per the Department of Education, award amounts for any TEACH Grant that is first disbursed after March 1, 2013 must be reduced by 6.0 percent from the award amount for which a recipient would otherwise have been eligible. • For example, the maximum award of $4,000 is reduced by 6.0%, or $240, resulting in a maximum award amount of $3,760 ($1,880 fall/$1,880 spring). TEACH Grant and Sequestration

  5. Undergraduate • Full-time (12 hours or more)$1880 per semester • 3/4-time (9-11.99 hours)$1410 per semester • Half -time (6-8.99 hours)$940 per semester • Less than half-time (less than 6)$470 per semester • Graduate • Full-time (9 hours or more)$1880 per semester • 3/4-time (6.75–8.99 hours)$1410 per semester • Half -time (4.5–6.74 hours)$940 per semester • Less than half-time (less than 4.5)$470 per semester Enrollment Status & Award Amount

  6. Score above 75th percentile on any nationally normed standardized admissions test or • Maintain at least 3.25 cumulative GPA Academic Eligibility

  7. TEACH Grant is non-need-based aid • FAFSA required • Can replace expected family contribution (EFC) just like unsubsidized Stafford loan • Amount not used or needed to replace EFC • Is counted as aid when packaging other funds • Grant plus other aid may not exceed Cost of Attendance (COA) Relationship to Other Resources

  8. Full-time highly-qualified teacher in high-need field • Teach in low-income school for 4 years within 8 years of program completion • Suspensions of 8-year period available • No credit for part-time teaching • No partial fulfillment of service Service Obligation

  9. Failure to complete service obligation causes grant to convert to anunsubsidized loan! • Unsubsidized Stafford Loan • Collected under the Direct Loan Program • Interest charged back to date of grant Failure to Meet Service Obligations

  10. A TEACH Grant will be converted to a Direct Unsubsidized Stafford Loan if a student: • Requests conversion, regardless of enrollment status • Fails to notify Department of Education within 120 days of ceasing enrollment that he or she is employed, or still intends to pursue employment • Within 1 year of ceasing enrollment, he or she has not: • Been determined eligible for suspension • Re-enrolled in TEACH Grant-eligible program • Began teaching service per ATS TEACH Grant Conversion to Loan

  11. The TEACH Grant will convert to a Direct Unsubsidized Stafford Loan if a student completes a TEACH Grant-eligible program and: • Does not actively confirm with ED at least annually his or her intention to satisfy terms of ATS • Fails to begin or maintain qualifying employment within the timeframe that would allow him or her to complete teaching service per ATS Conversion to Loan (pg.2)

  12. If a TEACH Grant does get converted to a Direct Unsubsidized Stafford Loan, here’s what the repayment would look like for a student who received the grant for four years: Amount owed 12 years after initial disbursement - $9,009 (first year TEACH) Amount owed 11 years after initial disbursement - $8,419 (second year TEACH) Amount owed 10 years after initial disbursement - $7,869 (third year TEACH) Amount owed 9 years after initial disbursement - $7,354 (fourth year TEACH) Total $32,651 Interest to be Paid: $16,651 Grant Conversion to Loan (pg.3)

  13. Re-Enrollment in TEACH Grant eligible program • Condition covered by Family and Medical Leave Act (FMLA) • Birth of son or daughter • Caring for spouse, child, or parent with serious medical condition • Recipient’s serious health condition • Call or order to active duty status in U.S. armed forces or National Guard for more than 30 days Suspension of 8-yr Completion Period

  14. An ombudsman resolves disputes from a neutral, independent viewpoint. The Federal Student Aid (FSA) Ombudsman Group will informally conduct impartial fact-finding about your complaints. They will recommend solutions, but they don't have the authority to reverse decisions. They will also work to bring about changes that will help prevent future problems for other student loan borrowers. This free service is provided by the US Department of Education. • The Ombudsman Group will research your problem and determine whether you have been treated fairly. If your student loan complaint is justified, they will work with you and the office, agency, or company involved in the problem. On your behalf, they will contact other offices within the U.S. Department of Education, your private lender, your loan guaranty agency, and the servicing agency or firm collecting your loan. Student Loan Ombudsman’s Office

  15. U.S. Department of EducationFSA Ombudsman Group830 First Street, NEFourth FloorWashington, DC 20202-5144 • https://studentaid.ed.gov/repay-loans/disputes/prepare/contact-ombudsman • 1-877-557-2575 Ombudsman’s Office

  16. Federal listing: • ESL • Foreign Language • Math • Reading Specialist • Science • Special Education • State Listing • http://www.ed.gov/about/offices/list/ope/pol/tsa.doc High-Need Field

  17. English • Middle School • Secondary • English as a Second Language • Exceptional Children • EBD, FMD, LBD, Hearing Impaired, Visually Impaired • Sciences • Biology • Chemistry • Earth Science • Middle School • Physics • General Science (Middle and Secondary Level) • Mathematics • Middle School • Secondary Level • Social Studies • Middle School • Secondary • Career & Technical Education • World Languages (examples below): • Arabic • Chinese/Mandarin • French • German • Japanese • Russian • Spanish High-Need - Kentucky 13-14

  18. Business Education • Career & Technical Education • Business Services and Technology • Agriculture • Marketing • Communications Disorders • English as a New Language • Language Arts/Reading • Mathematics • Mild & Intense Interventions • Blind and Low Vision • World Languages • Science (all areas): • Biology • Chemistry • Earth Science • Natural Science • Physical Science • Physics • Social Studies (all areas): • Economics • Geography • History • Psychology • U.S. Government/Political Science High-Need - Indiana 13-14

  19. If your major is in Early Elementary Education, please consider the following: • We have found that elementary educators rarely teach a specific subject when employed. Instead, they are usually general education teachers – which does not meet the teaching requirements of the TEACH Grant • The most common exception to this elementary rule, however, is when a teacher is working with students with disabilities • If you do not intend to teach in this concentration in an elementary setting, it is recommended that you not accept the TEACH Grant BS Early Elementary Ed

  20. High-need does not equal an automatic job • Need across the state is assessed based on a district’s need for specific subject areas • A specific subject might be high-need in one school district and not another Finding a Job

  21. Official directory can be obtained at: https://www.tcli.ed.gov/CBSWebApp/tcli/TCLIPubSchoolSearch.jsp • List is not comprehensive, you should contact the Kentucky Department of Education Division of Program Resources, (502) 564-3791 Low-Income Schools

  22. Your certification area/field must appear on the high-need list for the state in which you seek employment – at the time you are seeking employment • You must be hired and placed in a school appearing on the official classification for “low-income schools” for that year • You must remain in that school (or another “official” low-income school) for four years out of eight years following completion of your teacher certification program Bottom Line

  23. Finished! http://louisville.edu/financialaid/grants/teach-counseling Click on the link below to return to the Group Counseling Confirmation webpage to submit the confirmation form.

More Related