Financing Your Teaching Credential

Financial aid counseling is available for all students.

Read below to find out about financial aid opportunities for credential students and current educators.

 

Types of Financial Aid

  • There are two general types of aid:  Grants/scholarships and loans.  The major different between the two is that the loans need to be repaid, whereas grants and scholarships do not.

  • Interest rates for loans vary, as do the time requirements for repayment of the principal and interest; your financial aid counselor will help you find the most beneficial mix and the most favorable loans.  Some loans for teachers can be “forgiven”.

  • There are new financial support programs for teachers that  may become available in the near future.  Your financial aid counselor will keep you up to date on these.

Financial Aid for Students

Grants and Scholarships

Cal Grants A, B & C

A State of California Program

About Cal Grants

Financial aid for low- and middle-income students who have not earned a BA. Aid may be extended for a fifth year for people pursuing a teaching credential. Cal Grant A can be used for tuition and fees. Cal Grant B can be used for living expenses, books, tuition and fees. Cal Grant C can help pay for tuition and training costs at an occupational or career college.

More information

Community College Transfer Entitlement Award

A State of California Program

About CCTE Awards

This is a federally funded program in which scholarships are awarded solely on the basis of academic merit and may be renewed for up to four years.

More information

Pell Grants

A State of California Program

About Pell Grants

This is a federally funded program in which scholarships are awarded solely on the basis of academic merit and may be renewed for up to four years.

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Federal Supplemental Education Opportunity Grant

FSEOG

About FSEOG

This is a federally funded program in which scholarships are awarded solely on the basis of academic merit and may be renewed for up to four years.

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Loan Programs

APLE Assumption Plan of Loans for Education

A loan program for credential students

About APLE programs

A teaching incentive program for students, out-of-state teachers and district interns to become California teachers in critical subject areas or designated schools

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FFEL Federal Family Education Loan

A loan program for students

About FFEL

These are subsidized or unsubsidized loans available to either graduate or undergraduate students enrolled in at least half-time attendance at a college or university

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Perkins Loans

A Federal program

About Perkins loans

This is a federal loan program in which the funds you can receive depend on whether you’re an undergraduate student or a graduate or professional student

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Stafford Loans

A loan program for students

About Stafford

Loan limits depend on what year you are in school, whether you’re a dependent student, and whether you are receiving “subsidized” or “unsubsidized” loans

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Federal Work Study

A Federal program

About work study

This program provides part-time jobs for undergraduate and graduate students with financial need.

More information

To learn about other scholarship opportunities for credential candidates and students, visit the MAST, MSTI and NOYCE pages under Teacher Preparation

Financial Aid for Teachers

Financial Resources and Incentives

The Extra Credit Teacher Home Purchase Program (ECTP)

A Cal HFA Program

About ECTP

The Extra Credit Teacher Home Purchase Program (ECTP) helps make first-time home ownership a possibility by providing a deferred-payment junior loan for down payment assistance (from $7,500-$15,000, depending on the property location, or 3% of the purchase price, whichever is greater).

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California State Teachers' Retirement System

CALSTRS

About CALSTRS

The largest U.S. teachers’ retirement fund provides defined (lifetime) benefits for service retirement, survivor benefits and disability retirement.

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CALSTRS Home Loan Program

A Public Program

About CALSTRS home loan program

Whether purchasing a new home, refinancing to lower payments, or taking cash out, the CalSTRS Home Loan Program offers competitive rates on a variety of mortgage loan programs.

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Extra Credit Teacher Home Purchase

A Public Program

About ECTHP

Public agencies such as cities and counties are permitted to use CDLAC tax credits or mortgage revenue bonds to support a program to recruit and retain teachers.

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Good Neighbor Next Door

A HUD Program

About the Good Neighbor Next Door Program

Teachers can purchase HUD homes at 50% off list price in HUD designated revitalization neighborhoods. Reduced down payments are available with FHA insured mortgages.

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National Board Certification Incentive Program

A National Program

About NBCIP

An additional $20,000 is awarded to the recipient for service in low-performing schools.

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FFEL Loan Forgiveness

A student loan forgiveness program

About FFEL Loan Forgiveness

This program is designed to encourage individuals to enter into and continue in the teaching profession. The program pays up to $5,000 after the fifth year of teaching on outstanding loan balances.

More Information 

Resources

California Student Aid Commission

The California Student Aid Commission is a resource for California residents who want to pursue higher education and need financial guidance.

1-888-CA-GRANT (1-888-224-7268)

www.csac.ca.gov

EdFund

EdFund is an organization which manages federal student loan payments for California Students.

1-877-2EDFUND (1-877-233-3863)

www.edfund.org

Troops to Teachers

The program provides a link between current and prior armed service members who desire to pursue a career in education by providing counseling, financial and placement assistance

More information

TEACH California

TEACH California is an organization which provides road maps and resources to prospective teaching credential students, current teachers and those shifting their career to the education field.

www.teachcalifornia.org

CSET Information

The California Educator Credentialing Examinations website is the official place to learn more about accreditation tests for teachers.

www.cset.nesinc.com

Ed-Join

Ed-Join is an organization which provides current job listings for educators nationwide.

https://www.edjoin.org/

California Commission on Teacher Credentialing

The California Commission on Teacher Credentialing is a state website which provides resources and online services to educators.

www.ctc.ca.gov