If you have any questions about financing your education, reach out to a TeachNC application coach or educator preparation program admissions staff for support. We’re here for you.
Take finances into account when you apply to an educator preparation program (EPP). And recognize that you have options when it comes to funding your education.
Here’s to financial prowess!
There are four types of financial aid that you should look out for: grants and scholarships, student loans, loan forgiveness and work-study.
If you qualify for work-study, try to align your job or service with your area of study. That way you can get hands-on experience while paying for your education.
There are also other financial benefits to North Carolina teachers, such as mortgage assistance. Head over to Salary & Benefits to learn more.
Check to see if your EPP offers financial aid. If it does (most do), be prepared to provide your name, Social Security Number, email and other background information.
Some forms will include a Release of Information, which authorizes specified individuals, agencies and organizations access to your form details. It’s a good idea to consent to this section to be considered for some financial aid programs.
As an aspiring teacher in North Carolina, you may be eligible for grants, scholarships and forgivable loans specific to students enrolled in educator preparation programs. Check out the resources at The College Foundation of North Carolina for more information.
There are hundreds of other scholarships and grants out there, ranging from small awards to full-ride scholarships. Browse our national list of financial aid and scholarships.
To support new teachers, Uncle Sam provides options for paying for your education.
Whether you’ve already earned your bachelor’s degree or you’re still in college, you’ll remember the Free Application for Federal Student Aid (FAFSA). Income, family size, parent age and more are taken into consideration when awarding federal grants and low-interest loans.
Deadline: You can submit your FAFSA application any time after October 1. The priority deadline for many schools is January 1. If miss this deadline, you can still apply. Remember that some forms of aid are first-come-first-serve, so apply as soon as you can!
Offered by the Federal Student Aid office (the same one that runs FAFSA), the TEACH Grant offers up to $4,000 a year to students targeting the teaching profession. However, not all EPPs participate in the TEACH Grant Program.
To remain eligible for your TEACH grant, after you complete you program you must:
If you don’t play by the rules, your TEACH Grant turns into a Direct Unsubsidized Loan, which means you have to pay it back with interest.
See the TEACH Grant website for more details.
If you use federal loans to pay for your program, you may be able to have all or part of your loans forgiven without paying them back. The federal government offers teachers, especially those who serve in high-need subjects or schools, several ways to apply for loan forgiveness.
Check out these programs on the Federal Student Aid website:
Don’t forget: You’re not finished once you hit that submit button!
You will receive a financial aid letter (or email) with the details of your award offer(s). You will have to officially accept these offers to receive them. Remember, schools can offer you loans, which you have to pay back with interest. You can always reduce the dollar amount of the loans or completely decline them if you don’t need them.
Once you formally accept your financial aid package, you will be one step closer to beginning your educator preparation program.
When you submit your EPP application, pay the fee. It’s usually around $50. There may be separate fees for the university application and the EPP program application. Make sure you read all documentation carefully.
In some cases, there may be fee waivers available, so take this opportunity to check in with an admissions officer or program official to see if you qualify.
Did you know? You can sign up for My Application Coach to get up to $100 towards application and testing fees. (We'll also set you up with a personal advisor and checklist app that keeps track of application steps and deadlines.)