The Teacher Education Assistance for College and Higher Education Grants (TEACH) can reduce your annual school expenses by up to $4,000 annually. This grant is exclusively for students pursuing a teaching career. Unlike other grants, it comes with a service obligation.
You can apply for the TEACH grant through FAFSA each year that you need financial aid. If you qualify, you will also have to complete TEACH Grant Initial and Subsequent Counseling each year. The mandatory counseling reviews the conditions of the free money.
You will also have to sign a TEACH Grant Agreement to Serve or Repay. This agreement explains the service-obligation terms and the repayment conditions should you fail to fulfill the service requirement.
The TEACH service obligation requires you to work full-time at a qualifying facility for four years within eight years of graduating. You must teach in a high-need field, including math, science, foreign language, and special education. A qualifying school is one that serves low-income students, and you can find a directory of these institutions through the grant program.
Federal Supplemental Educational Opportunity Grants (FSEOG) awards up to $4,000 annually to undergraduate students who have a financial need. Your FAFSA form determines if you qualify for this grant. Some of the requirements for FSEOG include the following:
- U.S. citizenship
- Maintaining qualifying grades, such as a 2.0 or higher GPA
- In your first bachelor’s degree program
A portion of funding for FSEOG comes from the school, while the federal government pays the majority 75 percent. Many institutions limit the amount of funding they receive because they must provide the remaining 25 percent. Likewise, the government gives schools a certain amount at the beginning of the year, and colleges may run out of funding before the end of the academic calendar.
Iraq and Afghanistan Service Grants are available for children whose military parent or guardian died in Iraq or Afghanistan after 9/11. You must be younger than 24 years of age or were enrolled in college with the qualifying parent who died.
The maximum award amount for Iraq and Afghanistan Service Grants is currently set at $6,495. You can still qualify for these grants even if your Expected Family Contribution disqualifies you from Pell Grants.
Federal work-study programs give you the opportunity to earn money for education expenses. These part-time jobs typically align with your field of study and school schedule. Unlike other grants, you receive funds as a paycheck instead of directly applied to your school account. The amount is dependent on how many hours you work.
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