Many people that are doing research on Financial Aid for College, think that loans and scholarships are their only resources. However, there are many grants available for students that meet the eligibility requirements. One of such grants is the TEACH Grant. This is a grant designed for Aspiring Teachers. This grant will provide up to $4,000 a year for students who are education majors and intending to to teach in an elementary or secondary school that serves students from low-income families.

To receive a TEACH Grant a student must agree to teach as a fulltime teacher in a public or private school serving low-income students for at least four academic years within their first eight calendar years of completing the program of study for which they received a TEACH Grant. Each year that a student receives a TEACH Grant, they must sign a TEACH Grant Agreement to serve with the U.S. Department of Education. Students that fail to complete the four year service obligation will have the total amount of their TEACH Grant converted to a Federal Unsubsidized Stafford Loan. A student then must repay this loan to the U.S. Department of Education and will be charged interest from the dates of the grant disbursement. Many people do not realize how good of a deal this is. The Stafford Loan rates are the best and lowest the government has to offer, if you do not fulfill, there is not a better loan you can get. Not all schools offer the TEACH Grant program, so it is important that you contact the schools you are interested in and see if the have this program and when should you apply for the grant.