Wisconsin Minority Teacher Loan

Eligibility criteria

  1. Resident of Wisconsin, as determined by Higher Education Aids Board, and registered with the Selective Service, if required.
  2. A minority student, as defined by state statutes (African-American, Hispanic, Native American or Southeast Asian from Laos, Cambodia, Vietnam, or identifies as Hmong)
  3. Enrolled at least half time in a teacher education program in a discipline identified as a teacher shortage area for the state of Wisconsin by the United States Department of Education. Details can be found on the State of Wisconsin Higher Educational Aids Board .
  4. Have a sophomore, junior or senior status in a teacher certification program or bachelor's degree with enrollment in a teacher certification program
  5. Have a cumulative GPA of 3.0 or greater
  6. Agree to teach in an elementary or secondary school in the city of Milwaukee

Amounts and selection process

Loans range from $250 up to $10,000 per academic year with the total borrowed not to exceed $30,000. 向日葵视频selects eligible students and determines each student's loan amount.

Terms

The interest rate is a fixed rate of 5 percent. Loan recipients, who meet ALL of the following criteria, will be granted 25 percent loan forgiveness per school year:

  • Licensed by the Wisconsin Department of Public Instruction in a high-demand discipline as indicated on the recipient鈥檚 loan agreement.
  • Employed by a public or private elementary or secondary school, or a tribal school, in a Wisconsin school district with a 40% or higher minority student population as a full-time teacher in a high-demand discipline as indicated on the recipient鈥檚 loan agreement.
  • Receive a rating of proficient or distinguished on the educator effectiveness system or the equivalent in a school that does not use the educator effectiveness system.
  • Submit to HEAB a completed employment verification form at the end of each academic year.

Application process

  1. File the Free Application for Federal Student Aid (FAFSA)
  2. Eligible students who are offered the Wisconsin Minority Teacher Loan on CheckMarq will receive the Loan Application by email. The Loan Application must be signed and returned by the student.

Renewal process

Loan offer is renewed only if the student completes all necessary forms, continues to meet eligibility requirements, and funds are available at the time that the application is completed.