Lake Superior State University
Lake Superior State University
 
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Financial Aid Office

Teach Grant Loan Forgiveness Program

The TEACH Grant is a Loan Forgiveness Program for students who plan to become teachers in certain fields & for teachers who are seeking a graduate degree.

Qualified students may borrow up to $4,000 per year if full time, prorated for part time.

Maximum of $16,000 for undergraduate student

Maximum of $8,000 for Masters with lifetime limit of $24,000.

Award becomes an unsubsidized federal student loan with interest accruing from initial point of disbursement if student does not meet forgiveness criteria within eight years

Who qualifies?

  1. Student must be admitted into an approved major – see list
  2. Student must have scored above 75th percentile on admissions test or GRE.  Submit a copy of your ACT results clearly showing your score above the 75th percentile.
  3. Student who did not meet the test criteria must have a cum GPA of 3.25 or higher
  4. If qualified by GPA, must meet that minimum each semester
  5. Student must complete Entrance Counseling, Interim and Exit Counseling
  6. Student must complete Agreement to Serve each year

Criteria for forgiveness of loan for students:

  1. Must complete four years of teaching within eight years of finishing program
  2. Must perform teach service as a highly-qualified teacher
  3. Must teach in a high-need subject area for at least four years at a school serving low-income students
  4. Must be a full time teacher with majority of time spend teaching one of the high need subjects:

* Bilingual Education and English Language Acquisition
* Foreign Language
* Mathematics
* Reading Specialist
* Science
* Special Education
* Other teacher shortage areas documented as high need by Federal, State or local education agency and listed in DE Annual Teacher Shortage Area Nationwide at the time the student begins teaching.

Steps to receive the Teach Grant Loan Forgiveness funds:

  1. Print and complete the Teach Grant application form and meet with your Education Department advisor to discuss your teaching plans.
  2. Make sure that your major shown on your student account matches your degree plans.  If not, you may need to complete a major change request through your advisor.  Please bring your signed major change form to the Registrar's Office to update your record.
  3. Bring your completed application form (signed by your advisor) to the Financial Aid Office and request a review of your aid eligibility.
  4. Complete the Entrance Counseling session. Click here if you would like step by step instructions on how to complete the Entrance Counseling.
  5. Complete the Agreement to Serve. Click here if you would like step by step instructions on how to complete the Agreement to Serve (ATS).
  6. Accept your Official Offer of Award for the Teach Grant Loan Forgiveness Program.
  7. Maintain your eligibility each semester if you wish to continue receiving funds.

Other Teach Grant Links:

 

 

 

 

 

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