Wisconsin Teacher Loan

Eligibility criteria

  1. Resident of Wisconsin, as determined by Higher Education Aids Board, and registered with the Selective Service, if required.
  2. 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 .
  3. Have a sophomore, junior or senior status in a teacher certification program or bachelor's degree with enrollment in a teacher certification program
  4. Have a cumulative GPA of 3.0 or greater
  5. Agree to practice full-time as a licensed teacher (with full-time teaching licensure) in Wisconsin:

    1. For the term of the forgiveness period; and
    2. In an elementary or secondary school located in the city of Milwaukee or a county defined as 鈥渞ural鈥� as defined by the State of Wisconsin Higher Educational Aids Board ; and
    3. Be hired to work and utilize the discipline specified with loan agreement, defined as a teacher shortage area by the Federal Department of Education, details can be found on the State of Wisconsin Higher Educational Aids Board .

Amounts and selection process

Awards 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:

  • Complete a program of study leading to a full-time teaching degree in a discipline defined as a teacher shortage area by the Federal Department of Education
  • Obtain a teaching license from the Wisconsin Department of Public Instruction of a permanent type
  • Be hired as a full-time teacher in an elementary or secondary school in the city of Milwaukee or a county defined as 鈥渞ural鈥� as defined by the State of Wisconsin Higher Educational Aids Board 
  • Employed utilizing a discipline defined as a teacher shortage area by the Federal Department of Education, details can be found on the State of Wisconsin Higher Educational Aids Board .
  • Receive a rating of proficient or distinguished on the educator effectiveness system or equivalent (in a school that does not utilize the educator effectiveness system).

Application process

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

Renewal process

Award 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.