A grant available for the next school year sounds like a college student’s dream come true, but it may be too good to be true.
The Teacher Education Assistance for College and Higher Education (TEACH) grant program was established by Congress to encourage bright college students to go into the teaching profession, especially in schools in low-income areas.
The grant provides $4,000 per year to undergraduate students willing to commit to earning a degree in education and then teaching full time for four years in high-poverty schools in a specific subject area. Mathematics, science, foreign language, special education, bilingual education and reading specialists are among the high-need fields.
….But if the student does not fulfill the terms of the grant, it would immediately be converted to an expensive unsubsidized loan, with interest accumulated from when the loan began, University of Wisconsin-Madison officials warned.