How To Pay For a Teaching Degree

Becoming a teacher requires a minimum of a bachelor's degree, though there are one of various types of teaching degrees to choose from. Teachers of young learners usually need a degree in early childhood education or elementary education. Middle school and high school teachers might need a degree in the specific subject area they want to teach. Special education teachers usually need a degree or minor in special education.

No matter which grade level or area of focus you pursue for teaching, earning a teaching degree| typically comes at a cost. Fortunately, financial aid options like scholarships, grants, and student loans can help pay for your college degree. Below, we'll discuss how much you can expect to pay for an education degree and explore how financial aid covers the cost of a teaching degree.

How Much Does a Teaching Degree Cost?

The price you pay for your teaching degree depends on factors like the school you choose and the degree you earn (ex. bachelor's vs. master's degree). According to the National Center for Education Statistics (NCES), the average tuition at four-year institutions in the 2022-23 school year was $9,800 for public institutions. Full-time students pursuing graduate degrees in the following academic year paid an average of $11,827.

Earning an online teaching degree can sometimes help you save on tuition costs thanks to reduced transportation and on-campus fees. You might also encounter schools that let students save by learning at their own pace. For instance, Western Governors University charges less than $4,000 per six-month term and lets students complete courses when they choose.

Tuition is one of several costs you can expect when pursuing a teaching career. Others include:

• college application fee
• educator preparation program application fee
• field experience costs
• fingerprinting/background check fee
• transportation costs (for campus and field experiences)
• teacher certification exam fee

As with tuition costs, the price you'll pay to complete your educator preparation program and earn your teaching certificate will depend on your school and state of licensure.

Federal Financial Aid for Teaching Degrees

Numerous federal aid programs are out there to help aspiring teachers pay for their degrees. Grants and work opportunities are great choices for reducing education costs.

FAFSA (Free Application for Federal Student Aid)

The Free Application for Federal Student Aid (FAFSA) from the U.S. Department of Education helps students with financial needs qualify for federal aid programs like grants, loans, and work-study. Colleges nationwide use this form to determine qualifying students' financial aid packages.

Federal Pell Grant

Federal Pell Grants help undergraduate students with exceptional financial need. The maximum award amount for the 2024-25 award year is $7,395. The following criteria determine award amounts:

• Expected Family Contribution (EFC)
• cost of attendance
• enrollment status (i.e., full-time or part-time)
• plans to enroll in a full academic year or less

Federal Supplemental Educational Opportunity Grant (FSEOG)

The Federal Supplemental Educational Opportunity Grant (FSEOG) provides $100 to $4,000 to eligible students based on when they apply, how much other aid they receive, and their school's funds availability. College financial aid offices award these funds on a first-come, first-serve basis.

Work-Study Programs

The Federal Work-Study Program gives undergraduate and graduate students with financial need part-time jobs to cover education expenses. Students typically work on campus or in their communities at the current federal minimum wage or higher.

Scholarships for Future Teachers

Scholarships give future teachers free funds to cover the cost of their education programs. Here are the types of scholarships you might encounter:

• Merit-based scholarships are funds students receive based on achievements like GPA, leadership potential, and community service.
• Need-based scholarships help students with financial needs who meet low-income eligibility requirements.
• State-specific scholarships are funds provided to students who reside in the state delivering the awards.
• Teacher-specific scholarships are awards for students who plan to or currently serve in teaching positions.

Grants for Future Teachers

Alongside scholarships and FAFSA funds are grants for students for future teachers. Here are some to consider.

TEACH Grant

The Teacher Education Assistance for College and Higher Education (TEACH) Grant helps students interested in pursuing teaching careers. To qualify, students must agree to complete a teaching service obligation that involves teaching full-time for at least four years in a high-need field at a low-income school.

Students must also be enrolled at a school participating in the TEACH Grant Program. Individuals who don't meet these requirements could have their grants converted into student loans. The statutory maximum scheduled award amount is $4,000 and the adjusted maximum award is $3,772.

State and Regional Grants

Students might find grants in their states or regions that provide funds to aspiring or current teachers. Some include:

• Golden State Teacher Grant (GSTG) Program: awards up to $20,000 to students enrolled in professional preparation programs who commit to work at a priority school or a California State Preschool Program (CSPP)
• Minnesota Student Teachers in Shortage Areas Grant (STSA): grants up to $7,500 to undergraduate and graduate students while they complete their required 12-week student-teaching experience
• Colorado Rural Teaching Stipend: provides a stipend of up to $4,000 for teacher candidates to student teach and ultimately become teachers in Colorado rural school districts

Private Grants

Many private grants are available to help individuals who have already started their teaching roles and seek professional development. For instance, the NEA Foundation offers Learning and Leadership Grants, which provide up to $5,000 to provide professional development opportunities to current teachers.

Student Loans and Forgiveness Programs

Student loans are funds you can use for school that must be repaid with interest. According to the NCES, over one-third of first-time, full-time degree/certificate-seeking undergraduate students were awarded loan aid in 2020-21.

The federal government offers student loans and provides opportunities for teachers to eliminate debt through loan forgiveness programs. Keep reading to learn more.

Federal Direct Loans (Subsidized and Unsubsidized)

The U.S. Department of Education offers Federal Direct Loans for undergraduate and graduate students. The Direct Subsidized Loan gives up to $5,500 to eligible undergraduate students with demonstrated financial need. The Direct Unsubsidized Loan gives up to $20,500 to eligible undergraduate, graduate, and professional students.

PLUS Loans for Parents and Graduate Students

PLUS Loans are funds granted to eligible graduate and professional students and parents of dependent undergraduate students. The maximum amount received equals the student's cost of attendance minus other financial aid they receive.

Loan Forgiveness Programs for Teachers

The Teacher Loan Forgiveness (TLF) Program forgives up to $17,500 in Direct Subsidized and Unsubsidized Loans (and Subsidized and Unsubsidized Federal Stafford Loans) to students who teach full-time for five complete and consecutive years. Students must work in low-income schools or educational service agencies and meet other qualifications.

Other Ways To Pay for a Teaching Degree

Are you looking for some additional ways to cover a teaching degree? Consider tuition assistance, military programs, and crowdfunding.

Employer-Sponsored Tuition Assistance

Tuition assistance, or tuition reimbursement, is an employee benefit employers give workers to help cover their college tuition. Businesses give students a predetermined amount upfront or as a reimbursement. Companies often require college courses to align with students' careers to qualify for assistance.

Military Programs

Active military service personnel, veterans, spouses, and dependents can often benefit from military college aid programs. Some to consider include:

• Military Tuition Assistance (TA) Program
• GI Bill (Post-9/11 and Montgomery)
• FRY Scholars
• Rogers STEM Scholarships
• ROTC scholarships

States and institutions might offer military student discounts and assistance to help make earning a degree more affordable.

Crowd Funding

Covering the cost of your teaching degree doesn't have to stop at applying for scholarships, grants, and student loans. You can also turn to your local community or even seek assistance from strangers via crowdfunding efforts. Sites like GoFundMe and Fundly provide opportunities to collect money for college with the help of others.