The Federal TEACH Grant provides 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. Recipients of the TEACH Grant must sign an agreement to teach full-time for four years in a high-need field in a school that serves students from low-income families.
What happens if you receive the TEACH Grant but do not meet the requirements of the teaching obligation? Failure to meet the specific teaching service obligation results in a conversion of the grant to an unsubsidized loan. You must then repay the loan to the U.S. Department of Education. You will be charged interest from the date the grant was initially disbursed.
If you meet the eligibility requirements below and have read and agreed to the requirements listed below, you may complete an Illinois State University TEACH Grant Application and submit your application to the Financial Aid Office. Your application will be reviewed for eligibility. If you are not eligible for the TEACH Grant, you will receive notification. If you are eligible, you will be contacted in order to schedule an Entrance Counseling Session. You must submit the application prior to the end of the academic year and must be enrolled in the applicable term in order to receive the grant.
Undergraduate students may receive a TEACH Grant only for their FIRST undergraduate degree. Graduate students may receive the TEACH Grant toward their Master's degree. A student seeking a second Master's may receive a TEACH Grant as long as s/he is otherwise eligible.
If you fail to meet the teaching requirements or fail to notify the Direct Loan Servicing Center that you are meeting or plan to meet the teaching requirements associated with the TEACH Grant, your grant will be converted to a Federal Direct Unsubsidized Loan. In addition to the amount of grant funds you received, you will be charged interest from the initial point you received the grant. The Direct Loan Servicing Center will monitor the requirements of the TEACH Grant Program.
If converted to a loan, your TEACH Grant will be subject to the terms and conditions that apply to a Direct Unsubsidized Loan under applicable laws and regulations, including, including the terms and conditions described in your Agreement to Serve, and will be reported to one or more national credit bureaus. You will receive a six-month grace period on repayment that begins on the day after the grant is converted to the Federal Direct Unsubsidized Loan. During the grace period, you are not required to make payments, but interest will continue to accrue.