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TEACH Grant Program

If you need a no cosigner student loan because of bad credit then you may want to look into the Federal TEACH Grant Program. This teaching grant may help pay your way through college and then you won’t have to worry about paying off all those no cosigner student loans when you graduate. Finding someone else to pay your college is the name of the game today. College tuition is expensive! Lets’ see if you fit the criteria and may benefit from the TEACH Grant Program.

If you are planning a future in the field of education, you may be eligible for the Teacher Education Assistance for College and Higher Education (TEACH) Grant. This federal grant is available for graduate and under graduate students who are enrolled in approved programs, and who are attending college at least part time. It also applies to those who are in graduate teacher credential programs, and students who are currently teachers or formerly teachers, including those who have already retired from a teaching field.

The Teacher Education Assistance for College and Higher Education (TEACH) Grant helps to pay for your education if you meet the specific requirements for the grant, and if you meet all of the other requirements for federal student aid. You must be a citizen of the
United States, and you must be in the 75th percentile on the SAT, the ACT, or the GRE. If you did not score this high on these tests, you may also be eligible if you have a cumulative grade point average of 3.25.

If you are awarded this grant, it does not have to be repaid. The award amount can be up to $4000 per year if you are a full time student, with a maximum of $16,000. Graduate students can receive up to a maximum of $8000. You must be enrolled in courses
that will result in a degree in a teaching field, and your intention must be to become a teacher upon graduation. The federal TEACH grant is nice substitute for a no cosigner student loan any day.

To ensure this, there is one other requirement for the Teacher Education Assistance for College and Higher Education (TEACH) Grant that you must be aware of. You will be required to sign a TEACH Grant Agreement to Serve. This agreement essentially states that within eight years of graduating from college, you will teach full time for four academic years in a low income elementary school, or in a secondary school in a high need field of study. If you fail to meet this obligation within the required time frame, the grant is converted to an unsubsidized direct student loan, and it must be paid back in full.

The school that you teach at to fulfill this obligation must be a school approved by the Department of Education for the purpose of meeting the obligation. High need fields for secondary education include foreign languages, science, mathematics, bilingual education, reading, special education, and more.

This is a very serious obligation that must be met, and before you apply for or accept this grant, it is very important that you give serious consideration to this condition of teaching. The teaching field has always been considered as a noble profession, but teaching in low income schools can be challenging. Make sure that you are up to the task.

Your eligibility for the Teacher Education Assistance for College and Higher Education (TEACH) Grant will be determined by the information included on your FAFSA form, but you do not have to show financial need to receive it, as you do with other grants. The
Estimated Family Contribution (EFC) is not considered at all when you apply for this grant. The school that you choose must also participate in the TEACH Grant program.

If the above is something you feel comfortable with, then apply to the federal teach grant program and then you don’t have to worry about finding a cosigner for your student loan anymore. The worst that can happen if you don’t want to teach within eight years of
graduation is your teaching grant is converted to an unsubsidized direct student loan and you will have student loans to pay off. This would have been a similar situation (and better because you have (8) years to delay paying on your student loans) if you took out
student loans to begin with.

Federal Supplemental Educational Opportunity Grant (FSEOG)

National SMART Grant an Alternative Student Loan Program

Academic Competitiveness Grant (ACG) for No Cosigner Student Loans

Federal Pell Grant before No Cosigner Student Loans