<p>Curious to hear input from anyone considering or already committed to the TEACH grant program.</p>
<p>Pros, cons, surprises you weren't aware of (good or bad, :) ) </p>
<p>My S is planning to major in Math and teach high school. TEACH might make a school or two more possible for him. I'm not sure how long these grants have been in existence so don't know if there are some graduates out there already.</p>
<p>I know the facts of 4 of your first 8 years of teaching must be in a high need area and needy school district. I know if you decide not to fulfill these teaching requirements your loaned $$ turn into unsub (?) loans. </p>
<p>Was there a lot of paperwork? Again, any pros/cons????</p>
<p>Also wanted to say that I didn’t recall any threads on this subject - if you are aware of any feel free to point me in the right direction! I don’t seem to have a lot of luck with the search functions on CC…</p>
<p>It’s strange… on my SUNY Potsdam federal aid sheet, they put the TEACH grant on there. I went to the website, and music isn’t on the high demand subject list!</p>
<p>If you don’t fulfill the TEACH requirements it reverts to an unsubsidized loan dating back to the day of disbursement. That could be a whole lot of interest all of a sudden. </p>
<p>My personal feeling about the TEACH - unless I was 99.999% sure I was planning to, and actually wanted to, fulfill the requirements I would chose a school that I could afford without it. So if the school is unaffordable without the TEACH then I would think along the lines of it being unaffordable with it. Or maybe a better way to think of it is as a loan from the outset. On a teacher’s salary will he be able to afford to repay whatever loans he has and the equivalent of more loans up to the amount of the TEACH grant? If so then maybe it is worth considering, and then if he meets the requirements and it stays a grant it will be a nice bonus. If it would be a burden then why risk it if there are other acceptable options. </p>
<p>I think I read somewhere that they expect the majority of teach grants to revert to unsub loans, but I don’t remember where I saw that.</p>
<p>As a math teacher, even if the economy doesn’t improve, I am guessing that he will have his choice of jobs. </p>
<p>My friends whose children who plan to or already have begun to study education have chosen not to use the TEACH because of the strings attached.</p>
<p>This year if a student is Pell eligible and takes math or certain science majors they can get the Smart Grant but I heard that it may stop after this year. The Smart Grant covers 4k a year.</p>
<p>If he does not intend to stay in the high-need school district after 4 years that is 4 years he is giving up towards tenure in another school. Tenure is harder to get these days - there have been many teachers denied tenure in our district (on Long Island) over the past few years. So, it kind of puts him at least 4 years behind other teachers his same age.</p>
<p>Teaching in a high-need school district can be very daunting (I know a few people my age who have been teachers in such districts - one who stayed, but is an administrator now because they couldn’t face being in the classroom anymore).</p>
<p>If there is any doubt that your son might not be able to fulfill the requirement (lasting 4 years) then I would think that the risk may be too great since the loans revert to unsubsidized and will carry all of the accrued unpaid interest. Plus, this would be in addition to any other loans he may have taken for his education (I don’t know, but I’m assuming that TEACH doesn’t cover full tuition/room/board).</p>
<p>Here is something I read about the TEACH grant that gave me pause:</p>
<p>Please Note: If you are not already committed to teaching a high-need subject in a low-income school, please use caution when considering this possible source of funds. According to some estimates, only 20 percent of students who participate in the TEACH Grant Program will be able to use the funds as grants, while many students will see their funds converted to loans with accumulated interest.</p>
<p>The SMART grant is not an option at this point. The SMART grant is for 3rd and 4th year students only. And they must be Pell eligible as well as being in certain majors (of which Math is one). I believe the OP is talking about a rising freshman student. Even if he is pell eligible and majoring in math the SMART (as well as the ACG) is scheduled to be gone after the 2010-2011 school year.</p>
<p>TEACH grant can be a good option, but only if students are truly committed to fulfilling the requirements (meaning majors AND locations). Otherwise, it’s what we call a groan (grant that turns into a loan). For students who take out max unsub loans AND TEACH grant, not fulfilling the requirements can have some pretty scary effects. Calculate that interest, folks. And what if you don’t end up teaching, after all (like my nephew, who now adds TEACH to his other unsub loans …).</p>
<p>Even if SMART were to continue past 10-11 school year, it is only for certain majors. An education major who plans to teach math may or may not qualify … it goes by CIP code, set by the government. You can go on the fafsa.gov website, search grant programs, and pull up the CIP codes for math-related majors. Then contact the college to find out if the major you plan to take has one of those CIP codes. Education majors are not SMART eligible, even if they plan to teach math; math majors are eligible. Schools set up their education programs differently, so you need to do the research.</p>
<p>TEACH is generally a good option for grad students, as they usually are in a better position to truly know whether or not they will be fulfilling the terms of their agreements.</p>
<p>Appreciate your thoughts - it all makes lots of sense. I thought this option might make one or two of his schools that have a gap more possible - but we shall see.</p>
<p>Is there any likelihood the SMART will still be around after 2010-2011? I thought it’s demise (and that of the ACG) was a done deal. My daughter will have her 2nd year SMART 2010-2011. It was sure nice and I am glad her major (zoology) was an eligible major. But I actually think it is kind of odd that someone can get such a huge extra grant on top of the pell while someone not Pell eligible would not get it. And with no strings attached like the TEACH. Puzzles me. (not enough to have her say no to an extra $4000 a year though :rolleyes: )</p>
<p>It is expected to go away. You never know what will happen, though. I tell students not to expect it. If somehow it is still around, though, it would be a pleasant surprise for many students.</p>
<p>I was reading today that funding is a bit short for the pell because so many people are eligible for it, more than they expected. So that would not surprise me.</p>