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Financial Aid at Ottawa University

TEACH Grant Program

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 in a public or private elementary or secondary school that serves students from low-income families. If you are interested in learning more about the TEACH Grant Program, please review the following information, print and complete the Teach Grant Eligibility Documentation and bring it to the Department of Financial Aid at your campus location. Note - this is only the first of a 3-step application process.

Conditions

In exchange for receiving a TEACH Grant, you must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low-income students. As a recipient of a TEACH Grant, you must teach for at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant. IMPORTANT: If you fail to complete this service obligation, all amounts of TEACH Grants that you received will be converted to a Federal Direct Unsubsidized Stafford Loan. You must then repay this loan to the U.S. Department of Education and you will be charged interest from the date the funds were disbursed.

Sample Repayment 

 

If interest paid before entering repayment 

 

If interest is not paid and it is capitalized 

TEACH Grant Amount

   

                     $16,000

      

                     $16,000

Accrued Interest at 6.8%  

      

                      $7,708

 

                     $7,708

Principal to be repaid

 

                     $16,000

 

                     $23,708

Standard Repayment

 

                     $184/month

 

                     $273/month

Number of payments

 

                     120

 

                     120

Total Amount Repaid

 

                     $22,095

 

                     $32,740

High-need Fields of Study

  • Bilingual Education
  • English Language Acquisition
  • Foreign Language
  • Mathematics
  • Reading Specialist
  • Science
  • Special Education
  • Other identified teacher shortage areas as of the time you begin teaching in that field. These are teacher subject shortage areas (not geographic areas) that are listed in the Department of Education's Annual Teacher Shortage Area Nationwide Listing.

Schools Serving Low Income Students

Schools serving low-income students include any elementary or secondary school that is listed in the Department of Education's Annual Directory of Designated Low-Income Schools for Teacher Cancellation Benefits.

How to Apply:
(all 3 steps must be completed each year prior to receiving your first disbursement)

Step 1 - Complete and submit the Teach Grant Eligibility Documentation to the Department of Financial Aid at your campus location.

Step 2 - Complete an online Counseling Session.

Step 3 - Complete the Department of Education's Agreement To Serve (ATS).