This federal grant is available to undergraduate and graduate students who agree to serve for at least four years as full-time, highly qualified teachers in high-need fields in public or not-for-profit private elementary or secondary schools that serve students from low-income families. You should consider this grant only if you are committed to teaching a high-need subject in a designated low-income school. If the teaching requirement is not met, the grant will convert to an unsubsidized loan, which will have to be repaid with interest calculated back to the date the funds were disbursed. The TEACH grant maximum is $4,000 per year. More information on the TEACH grant can be found on the Federal Student Aid website.