In recent years, there has been an increase in demand and a decrease in supply of teachers for high-need areas and subjects such as reading specialists, mathematics and science. In an effort to attract more teachers, the U.S. Department of Education established the Teacher Education Assistance for College and Higher Education Grant in 2008.
The TEACH grant is a federal grant that can be worth up to $4,000 per year for qualified students. Students must agree to teach for four years at a public school that serves low-income families. There are some other stipulations as well, such as taking required coursework and making sure the college participates in the program.
If the requirements for the grant are not fulfilled, the terms state that it will be converted to an unsubsidized Stafford loan, meaning students who thought they were getting money that would cover tuition will now owe the amount in full on top of accrued interest.
Thousands of teachers have reportedly had their grants taken away and converted to student loans, sometimes for minor errors in paperwork, even though they were on track to meeting the program’s teaching requirements.
Because of this, the Department of Education has updated its terms as of Jan. 31, 2019, and is offering teachers a chance to apply for reconsideration of their loans.
[Read: How to Manage Old, Unpaid Student Loans.]
Here’s what teachers with student loans from the TEACH grant need to know to apply for reconsideration:
— You can request a reconsideration if you met or are on track to meet the grant requirements.
— Those who are eligible to request reconsideration will be notified by email.
— Annual certifications will now be due Oct. 31.
Teachers can request reconsideration if they met or are on track to meet the grant requirements. In order to meet the requirements, a participant must serve as a full-time teacher for a total of at least four academic years within eight years after finishing — or leaving — the eligible program for which the TEACH grant funds were received.
Teaching must be done at a school or educational service agency that serves low-income students and must be in a high-need field. The Department of Education defines high-need fields as bilingual education and English language acquisition, foreign language, mathematics, reading specialist, science, special education and any other field included in the annual Teacher Shortage Area Nationwide Listing (Nationwide List).
Teachers who had their grants converted to loans because they did not submit documentation of their progress toward completing the service obligation are eligible to request reconsideration.
[Read: 5 Answers for Teachers About Federal Grants for Grad School.]
Those who are eligible to request TEACH grant reconsideration will be notified by email. The Department of Education will email individuals who are eligible to request reconsideration the week of Feb. 4, 2019. If you have proof that you completed your required four years of qualifying teaching within eight years or are on track to do so, your loans may qualify.
If you do not receive an email notification but still feel you are eligible for reconsideration, contact ED’s TEACH grant servicer, FedLoan Servicing, by phone at 855-499-9543 between 8 a.m. and 9 p.m. Eastern time, Monday-Friday. Be ready to answer questions and provide more information as needed for them to determine your eligibility status.
If you are unable to call, you may email FedLoan Serving at TEACHgrantconversions@myfedloan.org. Be sure to include your request for reconsideration and a phone number where they can reach you for more information.
Annual certifications will now be due Oct. 31. As part of the TEACH grant program, each year participants are expected to provide FedLoan Servicing with documentation showing completion of a full school year of qualifying teaching service, or a certification of the intention to satisfy the service obligation.
[Read: 3 Tips for Securing Student Loan Forgiveness.]
While the annual certification date previously varied among grant recipients, the Department of Education has now designated Oct. 31 as the standardized deadline for teachers to submit this annual certification. Beginning in 2019, each year at the beginning of October, FedLoan Servicing will notify grant participants on how to submit their documentation of progress.
If a teacher does not submit documentation by Oct. 31, all TEACH grants will be converted to direct unsubsidized loans. The borrower will then be required to repay these loans with interest charges from the date the TEACH grants were disbursed. The servicer will notify the participant if the grants are converted to loans.
Keep in mind that this annual certification date is separate from the initial 120-day certification requirement. Teachers are still expected to confirm in writing within 120 days of the day of completion or withdrawal from the school where the TEACH grant was received if they are employed as a full-time teacher or not yet employed but intend to meet the requirements.
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How to Get Student Debt From the TEACH Grant Forgiven originally appeared on usnews.com
