Financial Information
Costs You’ll Incur
At Teach For America, we believe a commitment to educational excellence means providing our corps members with the support and resources they need to focus on what matters—student impact. That’s why we aim to provide a measure of financial support in your transition to the corps.
We want to make sure you understand the costs you can anticipate to incur and the financial support available to you to make this transition more financially feasible for you. While Teach For America is not able to provide financial advice, as we are not financial advisors, we have pulled together resources and alumni tips that will assist you in planning for your transition. These costs are a prediction based on recent Corps Member experiences. Costs may change throughout the year and will be different depending on each person’s situation. We will update costs accordingly. If you have questions or concerns please reach out to the regional team.
Financial Costs & Support
Financial Costs & Supports
For some of the onboarding expenses in late winter/early spring, you’ll have the option to access some of your stipend early to help pay for those costs. Teach For America will pay for your content exam costs. You can look through the regional cost guide here (costs are page one, financial supports are page 2).
For more information about tuition costs at our Certification Partners, please visit the Certification Partners page and click into your specific partner you’ll be attending.
AmeriCorps
Corps Members may be eligible to receive federal funding to help pay off student loans, cover some of the costs incurred while earning your teaching certification, and loan forbearance. For the 2024-2025 school year, the value of the full AmeriCorps Award is $7,395. As this program is funded through annual Congressional approval, benefits are not guaranteed. We recognize these awards are highly valued by Corps Members and we're doing everything we can to ensure these awards will continue to be available.
MTI Scholarship
Scholarship opportunity for corps members of color who have lived in Illinois for 12 months.
The Illinois Student Assistance Commission (ISAC) offers a scholarship of up to $5,000 per year for tuition and fees for corps members of color. The scholarship money is sent directly to National Louis University, an approved school for the ISAC, to help cover your costs for the year.
To be eligible for the scholarship you must meet the following criteria:
US citizen or eligible non-citizen who is a resident of Illinois for the last 12 months
Minority student of either African American/Black, Hispanic American, Asian American, or Native American origin.
Be enrolled in an approved Illinois institution of higher education and receive at least a cumulative GPA of 2.5 on the 4.0 scale.
Not be in default on any student loan, nor owe a refund on any state or federal grant.
Steps to apply:
Complete the Application Process by submitting the Minority Teachers of Illinois (MTI) Scholarship Program Application
Sign the Teaching Agreement/Promissory Note by March 1, 2025 (but applications are on a rolling basis).
Note: You must print the completed application and Teaching Agreement/Promissory Note, sign it in ink, and mail it to ISAC (1755 Lake Cook Rd, Deerfield, IL 60015)