Mapping your Financial Transition to the Corps

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your financial transition to the corps: Transitional Grants and Loans 

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In addition to testing and certification, one of the most important pieces of your transition is planning for the financial transition of joining the corps. 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. Teach For America covers many of your major expenses during summer training (e.g. food, housing) for all corps members.

transitional grants and loans

We also offer a Need-Based program to help you with some of your transition expenses, this is called Transitional Grants and Loans. Packages are offered based on a corps member’s demonstrated need and the cost of transitioning to your assigned region. Please check your Applicant Center under the Transitional Funding tab to learn more about Need-Based Transitional Funding and how to apply. Learn more about TGL by clicking the link below.

The Regional Assistance Fund

In addition to Transitional Grants and Loans we also have micro-grants available via our Regional Assistance Fund (RAF). Whereas Transitional Grants and Loans (TGL) is available to help you with your transition to Summer Training and beyond (May-August 2020), the RAF is designed to help you with some of the upfront onboarding costs (e.g. costs incurred between when you accept your offer and May 2020).  If you would like to learn more about a RAF grant please click the link below:

americorps education award

AmeriCorps is a federally funded service program that Teach For America Corps Members are eligible to join. In order to join AmeriCorps Corps Members must be a US citizen, US national, or lawful permanent resident. For Corps Members who do not meet this criteria Teach For America will offer a similar financial benefit. Corps Members must also pass state and federal background checks and complete all required enrollment documentation. 98% of our Corps Members enroll in AmeriCorps.

As an AmeriCorps member Corps Members are eligible to earn an education award at the end of each school year in the corps. The education award can be used to repay qualified student loans, pay all or part of current education expenses, such as your University Partner, or to pay expenses while participating in an approved school-to-work program. The education award for the 2019-2020 school year is worth $6,095. We are waiting to hear what the award for the 2020-2021 school year will be depending on congressional approval. In addition to the education award, Corps Members are eligible to apply for loan forbearance and interest accrual payments during their two years in the corps.

What this looks like for your two years in the corps:

  • 2020-2021 School Year

    • Apply for loan forbearance to not pay on student loans during school year

    • Earn education award at the end of school year contingent upon completing the year

    • Apply for AmeriCorps to pay off the interest that accrued on your loans during the year

  • 2021-2022 School Year

    • Apply for loan forbearance to not pay on student loans during school year

    • Earn education award at the end of school year contingent upon completing the year

    • Apply for AmeriCorps to pay off the interest that accrued on your loans during the year

To learn more about AmeriCorps please click the link below. We will update this information for the 2020-2021 school year as we receive it.