VSAC transferred the servicing of your Federal Student loans to American Education Services and the guarantee of all VSAC Federal Student loans to the Trellis Company, an approved Federal Guaranty Agency, over the weekend of March 16th. CLICK HERE for more information.
Pursue a career in teaching — tuition free
An interest-free, forgivable loan which pays up to 100% of tuition
A program to increase the number of licensed teachers in Vermont
Funded by the Vermont Legislature, the Vermont Teacher Forgivable Loan Program covers up to full tuition, (which may also cover room, board, books and supplies) for qualified recipients enrolled in a program that leads to a degree or certificate in education and a teaching license with an emphasis on encouraging Black, Indigenous, and Persons of Color, new Americans, and other historically underrepresented communities.
Funding is awarded to qualifying applicants on a first-come, first-served basis until all funds have been depleted.
Recipients are awarded in the form of an interest-free loan which is forgiven when the recipient signs a promissory note and has completed the following work obligations:
- Agree to work full-time as a teacher in a Vermont public school for a minimum of one year following licensure for each year of assistance received
WHO IS ELIGIBLE?
- Vermont or non-Vermont residents
- Maintaining good standing at your school
- Enrolled in a teaching program at an eligible school that leads to a degree or certificate in education and a teaching license
HOW MUCH IS THE AWARD?
Full tuition up to $16,280. This award can be used to pay for tuition, fees, room, board, and the cost of books and supplies.
HOW DO I APPLY?
- For detailed information about the forgivable loan and the application process, review the Scholarships for Vermonters booklet.
- Complete the Unified Scholarship Application online through your MyVSAC account, click on Work with VSAC-Assisted Scholarships, look for “Submit Application” and “Unified Scholarship Application (USA)” and follow the instructions.
- Complete the FAFSA for the academic year you’re attending or planning to attend
- If selected as a recipient by the selection committee, recipients sign a promissory note when they accept funding that commits them to the following work arrangements. The loan will be forgiven when the work obligation is met:
- Agree to work full-time as a teacher in a Vermont public school for a minimum of one year following licensure for each year of assistance received
WHEN SHOULD I APPLY?
Applications are accepted and reviewed on a rolling basis until all funds have been awarded.
WHAT IS AN INTEREST-FREE FORGIVABLE LOAN?
The State of Vermont offers several forgivable loan programs to encourage students to enter the Vermont workforce in specific high-demand fields. These unique loans:
- Are interest-free
- Require awarded students to sign a promissory note committing to specific work obligations when they accept the funding
- Do not require payment while the student is enrolled in the applicable degree or training program
- Are “forgiven” — which means that the loan does not have to be paid back — when the student meets the work obligations outlined in the promissory note they signed
- Must be repaid if the student doesn't complete the program, doesn't receive their license, or doesn't work in the field in Vermont following licensure
For example: Mary received $16,000 in a teacher forgivable loan program for her senior year. Upon completion of the program, Mary received her teaching license and began working as a teacher in a Vermont public school. One year later her employment was verified, and the loan was forgiven!
IS OTHER FUNDING AVAILABLE?
Vermont residents may also qualify for the Advancement Grant or the Vermont Grant.
QUESTIONS:
- about your application or status? Contact VSAC or call 888-253-4819.