[Oasfaa] Fwd: RE: TEACH Grants

[Jonna Raney]

Okay, since noone on the OASFAA listserv had an answer for me, I posted my TEACH Grant question on Finaid-L.  I received one answer, so I thought I'd forward the info to our listserv in case everyone is as confused as I am.  I still have other questions, but the main concern was that it was starting Oct 1 and Mark says it doesn't begin until July 1.  I don't see that in the NASFAA summary of the bill anywhere, but I hope he's correct.

Have a great day everyone,
Jonna

>>> "Kantrowitz, Mark" <mkant at fastweb.com> 9/11/2007 8:06 AM >>>
Students (teacher candidates) would apply for the grants, and the
Department would provide funds to the schools for each recipient. At
least 85% of the funds would be provided up front. There is an option
for the Department to set up a direct disbursement system, where funds
would be disbursed directly to the teacher candidates. Grants will be
prorated for part-time enrollment. COA cap. 3.25 minimum GPA. Test
scores above the 75th percentile. Recipients agree to serve at least 4
years as a full-time teacher in a national need area in a national need
field. If the student fails to complete service, their grants convert to
unsubsidized Stafford loans (with interest acruing from the date of the
grant). The program starts July 1, 2008. 

Mark

-----Original Message-----
From: ADMINISTRATION of USA Financial Aid Offices
[mailto:FINAID-L at LISTS.PSU.EDU] On Behalf Of Jonna Raney
Sent: Monday, September 10, 2007 5:51 PM
To: FINAID-L at LISTS.PSU.EDU 
Subject: TEACH Grants

Can someone tell me what these are?  Will we be awarding them?  If so,
is this starting Oct 1, 2007?  If not, how will students apply for them?
It sounds like the school has to request the funds, so I guess we'll
award them?  Are they like ACG/SMART?   I'm confused.  If this has
already been discussed, please forgive me.  I just re-subscribed to this
list today.

Jonna Raney
Oklahoma Baptist University

Sec. 104. Teach Grants

The bill establishes the Teacher Education Assistance for College and
Higher Education (TEACH) Grant program providing $4,000 a year (not to
exceed $16,000 for undergraduates or $8,000 for graduate students).

These funds must be used for tuition and fees and can only be used for
room and board in the case of institutionally owned housing.

Part-time TEACH Grant candidates will have their award reduced in
proportion to the amount of time the candidate attends school (a student
attending half-time would receive half the award)

The amount awarded in combination with other student aid shall not
exceed the student's cost of attendance. If the TEACH Grant exceeds the
cost of attendance it shall be reduced until it does not exceed the COA.

Undergraduate and Graduate students may receive TEACH Grants for the
period required to complete their first course of study, except for time
spent in a noncredit or remedial courses of study. TEACH Grant
recipients may also not be awarded more than $16,000. Noncredit and
remedial courses and study abroad courses shall not be excluded from
eligibility.

85 percent of TEACH Grant funds will be provided to an institution prior
to the start of each payment period based on the on the amount requested
by the institution to pay TEACH Grant candidates. This would be an
interim system until the Department determines an alternative payment
system through a negotiate rulemaking process.

Eligible students must demonstrate:

    * They have a GPA of 3.25 on a 4.0 scale (freshman students must
have a 3.25 high school GPA or score in the 75th percentile on at least
one school admissions test)
    * They are completing (or plan to complete) coursework and
requirements necessary to begin a career in teaching. 

TEACH Grant applicants must agree to serve as a full-time teacher for at
least four academic years at a high-need school within eight years after
completing the course of study.

They must teach in the following fields:

    * Math
    * Science
    * Foreign Language
    * Bilingual Education
    * Special Education
    * Teach as a Reading Specialist
    * Another Field documented as high need by the Federal Government,
State government or local education agency and approved by the
Department 

Additionally, student must:

    * Submit certification by the chief administrative officer of the
school upon completing a year of teaching
    * Comply with requirements for being a highly qualified teacher as
defined by the Department 

Students who do not complete their obligations will have their grant aid
treated as a Federal Direct Unsubsidized Stafford Loan.

The bill authorizes such sums as may be necessary to provide TEACH
Grants to each eligible applicant. 

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