Financial Information

Costs You’ll Incur

At Teach For America, we believe a commitment to equity means providing our corps members with the support and resources they need to focus on what matters—student impact. That’s why we aim to provide a measure of financial support in your transition to the corps.

We want to make sure you understand the costs you can anticipate to incur and the financial support available to you to make this transition more financially feasible for you. While Teach For America is not able to provide financial advice, as we are not financial advisors, we have pulled together resources and alumni tips that will assist you in planning for your transition. These costs are a prediction based on recent Corps Member experiences. Costs may change throughout the year and will be different depending on each person’s situation. We will update costs accordingly. If you have questions or concerns please reach out to your MD, LD

 

Financial Costs & Support

Financial Costs

For some of the onboarding expenses in late winter/early spring, you’ll have the option to access some of your stipend early to help pay for those costs. Teach For America will pay for your content exam costs.

For more information about tuition costs at our University Partners, please visit the University Partners page and click into your specific partner you’ll be attending.

Financial Supports

More information about Transitional Financial Support & Need-Based financial support will be shared in Fall 2023. You can still review information about AmeriCorps below.

Transitional Financial Support

Coming soon!

Need-Based Financial Support

Coming soon!

AmeriCorps

Teach For America corps members who join AmeriCorps may be eligible for additional funding to help pay off student loans or put toward certification costs. The AmeriCorps award is distributed after each year of membership and is typically around $6,895 per year.

 
 

MTI Scholarship

Scholarship opportunity for corps members of color who have lived in Illinois for 12 months.

The Illinois Student Assistance Commission (ISAC) offers a scholarship of up to $5,000 per year for tuition and fees for corps members of color. The scholarship money is sent directly to National Louis University, an approved school for the ISAC, to help cover your costs for the year.

To be eligible for the scholarship you must meet the following criteria:

  • US citizen or eligible non-citizen who is a resident of Illinois for the last 12 months

  • Minority student of either African American/Black, Hispanic American, Asian American, or Native American origin.

  • Be enrolled in an approved Illinois institution of higher education and receive at least a cumulative GPA of 2.5 on the 4.0 scale.

  • Not be in default on any student loan, nor owe a refund on any state or federal grant.

Steps to apply:

  • Complete the Application Process by submitting the Minority Teachers of Illinois (MTI) Scholarship Program Application

  • Sign the Teaching Agreement/Promissory Note by March 1, 2023 (but applications are on a rolling basis).

  • Note: You must print the completed application and Teaching Agreement/Promissory Note, sign it in ink, and mail it to ISAC (1755 Lake Cook Rd, Deerfield, IL 60015)