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Make Sure Your TEACH Grant Doesn't Become a Loan

What these students may not realize is that Pell Grants, like most federal financial aid, are earned over time, and if they don't complete the time, they are required to return the funds. Unlike the TEACH grant, these funds must be returned right away. In fact, the student for Education loans won't be able to receive any more aid until they do so.

RahulSingh
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Make Sure Your TEACH Grant Doesn't Become a Loan

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  1. Education loans

  2. Make Sure Your TEACH Grant Doesn't Become a Loan

  3. The Student Loan Ranger can be a bit of a broken record when it comes to reminding readers of the importance of reading and understanding the terms and conditions of student loans. • This mantra isn't unique to student loans. In fact, any financial advisor will tell you how important it is to read and understand the terms for any type of debt you take on. • But did you know that it can be just as important to understand the terms of any grants and scholarships you are awarded? At face value, that doesn't seem to make a lot of sense. • After all, a grant is "free money," and free money doesn't have to be repaid – unless it does.

  4. The student must also sign an "agreement to serve," which states that he or she will complete certain obligations within the first eight years after completing their credential or otherwise ceasing enrollment in the TEACH-eligible program. • These requirements include that the student will work as a full-time teacher for at least four years at a low-income school in a high-need field. They must also provide the U.S. Department of Education with proper documentation of this service.

  5. The good news is that, being a federal unsubsidized Stafford loan, it will be eligible for all the lower payment, deferment and other benefits and protections available for other unsubsidized Stafford loans. • That also means that if you choose not to repay it as agreed, all the same consequences will occur.

  6. What these students may not realize is that Pell Grants, like most federal financial aid, are earned over time, and if they don't complete the time, they are required to return the funds. • Unlike the TEACH grant, these funds must be returned right away. • In fact, the student for Education loans won't be able to receive any more aid until they do so. • The bottom line is, when they say "nothing in life is free," they could be talking about your grant money. Make sure you know before you owe. • Source: (http://bit.ly/1k67VcY)

  7. Follow us on https://www.facebook.com/AvanseEducationLoan https://www.linkedin.com/company/avanse-financial-services https://twitter.com/avanseeduloan https://plus.google.com/+AvanseFinancialServicesLtdMumbai https://www.youtube.com/channel/UCcsuUx1EH1C08XmX2embpug

  8. Read more on Education Loans : http://www.avanse.com/avanse-education-loans/ • Thank You..!!!

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