Who's Eligible: Undergrads with a desire to teach
Award Amount: Up to $4,000
Due Date: Varies by school
One of the few merit-based government aid programs available, the TEACH grant provides funds of up to $4,000 for students who are interested in teaching in low-income areas after graduation. Recipients must be able to teach in a critical shortage field such as reading, mathematics, science, special education, bilingual education, or a foreign language. Once students have received the TEACH grant, they are obligated to teach in a low-income school for at least four years after graduation. Do not even think about trying to back out. Students who back out of their teaching contract after accepting the grant will have to pay the grant back plus interest.