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A new grant program from Iowa Student Loan will provide $2,000 cash grants to first-year teachers in Iowa who accept assignments in some "shortage areas," as designated through the state Department of Education.
The $2,000 one-time awards usually are not school loans , nor have to be repaid. The grant program, which can be supposed to continue annually, will probably be funded from Iowa Student Loan?s operating revenue and is expected to help a lot more than 60 teachers each and every year. Grants is going to be awarded on the first-come, first-served basis.
>> Applying for an Iowa Student Loan Teacher Career Establishment Grant
First-year teachers in qualifying subjects like mathematics, science, English as a second language, other languages, music, agriculture, industrial arts, and special education can use to the grants online.
The program, named the Teacher Career Establishment Grant Program, is made to help new teachers with living expenses. The grants may be used to help repay school loans minimizing student loan debt but could also be employed for virtually any other expenses. Iowa Student Loan doesn?t place restrictions how the cash may be spent.
The Iowa Student Loan grants usually are meant to help recruit and retain new teachers in Iowa. The program is offered to all recent graduates, regardless of your current state of residence or where you visited college.
In order to be eligible for your grant program, you must be contracted to start a teaching job after Jan. 1, 2011, and you must teach in an Iowa classroom. You may not have taught in a other state just before teaching in Iowa.
>> State Hopes Financial Aid Will Attract More Teachers
The Iowa grant program continues to be established in reaction with a growing need among Iowa school districts for qualified teachers.
A 2009 survey conducted by the Iowa Department of Education reported that this state had nearly two times as many math teachers who have been prepared to retire since it had incoming math teachers. The same survey also showed the ratio of retiring teachers to new teachers in other academic shortage areas, like physics, was similarly lopsided.
One goal from the grant program is always to convince Iowa education students to keep within the state and pursue teaching opportunities locally. By helping with newly minted teachers? first-year expenses, Iowa Student Loan hopes to bolster the amount of highly qualified teachers that remain inside state after graduation.
For its part, the state of hawaii has additionally recently gone after increase starting salaries in Iowa schools to make the decision to instruct in Iowa easier on students who may be carrying a big debt burden from college loans.
Historically, Iowa had offered starting salaries for teachers that were one of the lowest inside country. Recently, however, starting salaries for teachers in Iowa have risen in the bottom one-quarter of most state starting teacher salaries nationwide to about the national median starting salary.
>> Iowa Grants Begin as Student Loan Forgiveness Program Ends
These new Teacher Career Establishment Grants replace a student loan forgiveness program that has been instituted in 2006 which is winding down this coming year.
The Teacher Education Loan Forgiveness Program, also sponsored by Iowa Student Loan, provided student loan debt reduction for more than 300 teachers who enrolled inside the program. The student loan forgiveness program provided vast amounts in student loan debt relief for teachers who accepted assignments in places that teacher shortages were apparent.
The student loan debt forgiveness program has paid approximately twenty percent of its committed funds and can spend the money for remaining 80 % as program participants fulfill their teaching commitments. The Teacher Education Loan Forgiveness Program stopped accepting applications at the end in the 2009-10 academic year.
>> About Iowa Student Loan
Iowa Student Loan, situated in Des Moines, is really a private, nonprofit educational funding organization established in 1981 to help Iowa students and families obtain the amount of money they must buy college. The organization also provides benefits within the form of discounted college loan products and student loan forgiveness programs, also it supports free college planning services for college students as well as their families.
student loan double
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