In addition to the Noyce Scholars and Teachers for a Competitive Tomorrow programs, prospective STEM teachers can simultaneously take advantage of several other sources of financial aid. Like Noyce, some of these come with a commitment to teach in a specific setting for one or more years. In all cases, it is possible to fulfill these other obligations and one’s Noyce obligation at the same time. For example, by teaching for two years in a high needs school, you can simultaneously satisfy both your Noyce commitment (two years) and a pair of VTSLP commitments (one year each).
VTSLP “Scholarship-Loans” (Virginia Teaching Scholarship Loan Program)
These state-funded scholarship-loans provide $3,720 of financial support per year. For each year of assistance, the student agrees to teach for one year in Virginia in one of the following settings: (1) a high needs school (with a large percentage of low-income students), OR (2) a “critical shortage discipline” (math, science, special education, etc.), OR (3) a rural or urban region experiencing a teacher shortage, OR (4) a single school with a teacher shortage. Qualifying schools and content areas are established annually by the Virginia Department of Education. Apply through the W&M School of Education. For details, visit http://www.doe.virginia.gov/
Forgiveness of Federal Stafford and Perkins Loans
Let us help you turn your student loans into scholarships! By teaching in a high needs school, you will become eligible for forgiveness of your federal student loans: up to $17,500 of your Stafford loans for five years of service in a high needs school, and up to 100% of your Perkins loans (15% for each of your first two years of service, 20% for your 3rd and 4th years, and the remaining 30% for your 5th year). For details, visit http://studentaid.ed.gov/PORTALSWebApp/students/english/teachercancel.jsp
Virginia Council of Teachers of Mathematics (VCTM)
Each year VCTM awards a pair of $2,000 scholarships to prospective math teachers. Apply through the W&M School of Education.
Virginia Space Grant Consortium (VSGC)
Each year VSGC awards $1,000 scholarships to prospective math and science teachers. To apply, visit http://www.vsgc.odu.edu/sf/teachered
Teach for America
Although the national Teach for America program does not provide scholarship support, it does provide a 5-week summer training institute to prepare teachers for success in high needs schools, as well as “transitional funding” to help participants relocate. Participants are placed in an appropriate school, where they fulfill their two-year commitment. For details, visit www.teachforamerica.org