Facts of the Month

College Costs Reduction and Access Act

The College Costs Reduction & Access Act signed into law in September 2007 brought many changes, including the creation of a new grant program specifically for students planning to teach in low income schools in subject areas of high need. The Teacher Education Assistance for College and Higher Education, or TEACH, Grant Program is slated to go into affect for the upcoming 2008-2009 academic year and will provide up to $4,000 per academic year of grant support. Students who do not fulfill the teaching obligation on the back end will have to pay back the entirety of the grant support as they would an unsubsidized Stafford student loan. For more information on the program's requirements and eligibility guidelines visit the Department of Education's website at http://www.studentaid.ed.gov/PORTALSWebApp/students/english/TEACH.jsp.

Publication Date: January 2008