Teacher Student Loans: Paying for School as a Future Teacher

Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as "Credible."

Teachers carried a median amount of $16,875 in student loan debt in 2019, according to the Center for American Progress.

So if you’re studying to be a teacher, there’s a good chance you’ll need to take out teacher student loans to pay for school.

Here’s what you need to know about teacher student loans, as well as other options:

Start with federal student loans
Research TEACH Grants
Consider taking out private student loans

1. Start with federal student loans

Federal student loans offer benefits and protections that could make repayment easier down the line.

For example, if you run into financial trouble or decide to join the Peace Corps after graduating, you might be able to pause your payments through the federal deferment or forbearance programs.

There are a few types of federal student loans that could fund your teacher training:

Loan type	Who qualifies?	Interest rates	Loan limits
Direct Subsidized Loans	Undergrad students with financial need	5.50%	$3,500 to $5,500 per year
Direct Unsubsidized Loans	Undergrad, graduate, and professional students	Undergrad: 5.50% Graduate and professional: 7.05%	Dependent undergrad: $5,500 to $7,500 per year ($31,000 total limit) Independent undergrad: $9,500 to $12,500 per school year ($57,500 total limit) Graduate and professional: $20,500 per year ($138,500 total limit)
Direct PLUS Loans	Parents, graduate students, and professional students	8.05%	Cost of attendance minus any other financial aid received

Direct Subsidized Loans: These loans are available for undergraduate students with financial need. The government will cover your interest while you’re in school, so you’ll have less to pay off later. You might be able to borrow up to $23,000 in Direct Subsidized Loans over the course of your degree.
Direct Unsubsidized Loans: Unlike subsidized loans, you’re responsible for all interest accrued on Direct Unsubsidized Loans. This means your balance will likely be higher when you graduate than when you first take them out — unless you make payments while you’re in school. These loans are available for both undergraduate and graduate students. If you’re a dependent students, you could borrow $5,500 up to $12,500 per, while independent students can borrow up to $20,500 per year.
Grad PLUS Loans: These loans are for graduate students, and typically come with higher interest rates that subsidized and unsubsidized loans. You’ll also have to undergo a credit check. With PLUS Loans, you could borrow up to your school’s cost of attendance.
Parent PLUS Loans: Parents who want to borrow money to pay for their child’s education can do so with Parent PLUS Loans. Like Grad PLUS Loans, you can borrow up to the cost of the school’s cost of attendance with Parent PLUS Loans. They also require a credit check.

To apply for federal student loans, you’ll need to fill out the Free Application for Federal Student Aid (FAFSA).

Afterward, you’ll receive a financial aid award letter from your school, which will explain what loans you’re eligible for. You can then choose which loans you’d like to accept.

Learn More: Federal Stafford Loans

Some federal student loans for teachers may be eligible for forgiveness:

A big advantage of federal student loans for teachers is that some could qualify for forgiveness. For example, if you work for an eligible employer and make qualifying payments for 10 years, you might qualify for Public Service Loan Forgiveness.

Or if you make your payments on an income-driven repayment plan, your loans could be forgiven after 20 to 25 years, depending on the plan.

See: Student Loan Forgiveness for Teachers

2. Research TEACH Grants

Teacher Education Assistance for College and Higher Education (TEACH) Grants could be a great option for teachers. If you meet the program requirements, you can use the grant to pay for school without ever needing to repay it.

If you’re eligible for the TEACH Grant, you could receive up to $4,000 for school. To qualify, you must complete each of the following:

Be enrolled as an undergraduate or graduate student at a school participating in the TEACH Grant program
Meet the academic achievement requirements
Agree to teach in a high-need field (such as STEM) in a low-income area for at least four years within eight years of graduation

If you don’t complete your service, the grant will be turned into a Direct Unsubsidized Loan that you’ll need to repay just as if you’d taken out a federal student loan.

Check Out: Low Interest Student Loans

Other scholarships and grants for future teachers

The TEACH grant is one of the most well-known programs for future teachers — but it’s not the only option available.

Here are some other teacher-specific scholarships worth pursuing:

Tip: You can also search for more opportunities through scholarship databases, such as FastWeb and Scholarships.com.

3. Consider taking out private student loans

It’s usually a good idea to leave private student loans and graduate student loans as a last resort as they don’t offer the same protections as federal student loans.

But if you’ve maxed out your federal student loans, college grants, and scholarships, private student loans could help fill any financial gaps left over. Most students end up with a mix of federal and private student loans to pay for school.

Private student loans offer some advantages of their own. A couple of these include:

Potentially lower interest rate: If you have good credit, you might qualify for a lower interest rate than you’d get with federal student loans, potentially saving you money in the long run.
Can apply at any time: Unlike federal student loans that come with strict application deadlines, you can apply for student loans from private lenders whenever you need them. If you run out of money mid-way through your program, private student loans could be a lifesaver.

Keep in mind: Whether you’re an undergraduate or graduate student, you might need a creditworthy student loan cosigner to qualify for a private student loan. This could be anyone from a parent to another family member to a trusted friend.

A cosigner could also help you get a lower interest rate or better repayment term, so it might be wise to have a cosigner even if you don’t technically need one.

If you decide to take out a private student loan, be sure to consider as many lenders as possible to find the right loan for you.

Credible makes this easy — you can compare your prequalified rates from our partner lenders in the table below in two minutes.

Lender	Fixed rates from (APR)	Variable rates from (APR)	Max loan limit
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.53%+¹⁰	6.16%+¹⁰	$400,000
Fixed APR: 4.53%+¹⁰ Variable APR: 6.16%+¹⁰ Min. credit score: Does not disclose Loan amount: $2,001* to $400,000 Loan terms (years): 5, 7, 10, 12, 15, 20 Repayment options: Full deferral, fixed/flat repayment, interest only, academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: None Discounts: 0.25% to 1.00% automatic payment discount, 1% cash back graduation reward Eligibility: Must be a U.S. citizen or permanent resident or DACA student enrolled at least half-time in a degree-seeking program Customer service: Email, phone Prequalified rates with a soft credit check: Yes Cosigner release: After 12 on-time principal and interest payments Loan servicer: Launch Servicing, LLC
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.99%+¹	6.37%+	$350,000 (depending on degree)
Fixed APR: 4.99%+¹ Variable APR: 6.37%+ Min. credit score: 720 Loan amount: $1,000 to $350,000 Loan terms (years): 5, 10, 15 Loan types: Any private or federal student loan Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay, loyalty Eligibility: Available in all 50 states (international students can apply with a creditworthy U.S. citizen or permanent resident cosigner) Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: After 36 months Loan servicer: Firstmark Services
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.49%+^2,3	5.59%+^2,3	Up to 100% of school-certified cost of attendance
Fixed APR: 4.49%+^2,3 Variable APR: 5.59%+^2,3 Min. credit score: Does not disclose Loan amount: $1,000 up to cost of attendance Loan terms (years): 5, 8, 10, 15, 20 Repayment options: Full deferral, full monthly payment, fixed/flat repayment, interest only, immediate repayment, academic deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident and be making satisfactory academic progress. Customer service: Email, phone Prequalified rates with a soft credit check: Yes Cosigner release: After half of the scheduled repayment term has been completed Loan servicer: College Ave Servicing LLC ^{Learn more about cosigner release requirements. Requesting prequalified rates on Credible is free and doesn't affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.}
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	6.25%+⁷	8.13%+⁷	$200,000
Fixed APR: 6.25%+⁷ Variable APR: 8.13%+⁷ Min. credit score: 750 Loan amount: $1,000 to $200,000 Loan terms (years): 7, 10, 15 Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident and have a minimum income of $30,000. Customer service: Email, phone Soft credit check: Yes Cosigner release: After 24 months Loan servicer: Firstmark Services
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.6%+⁸	7.64%+⁸	Up to 100% of school-certified cost of attendance
Fixed APR: 4.6%+⁸ Variable APR: 7.64%+⁸ Min. credit score: 670 Loan amount: $1,001 up to cost of attendance Loan terms (years): 5, 10, 15 Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, forbearance Fees: Late fee Discounts: Autopay, reward for on-time graduation Eligibility: Must be an Indiana resident or a U.S. citizen attending an eligible Indiana school Customer service: Email, phone, chat Prequalified rates with a soft credit check: Yes Cosigner release: After 12 months Loan servicer: American Education Services
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	5.35%+	N/A	Up to school-certified cost of attendance (depending on school type and minus other aid received)
Fixed APR: 5.35%+ Variable APR: N/A Min. credit score: 670 Loan amount: $1,500 up to cost of attendance less aid Loan terms (years): 10, 15 Repayment options: Full deferral, interest only, immediate repayment, academic deferral, forbearance Fees: None Discounts: None Eligibility: Must be a U.S. citizen or permanent resident and be making satisfactory academic progress. Customer service: Email, phone Prequalified rates with a soft credit check: Yes Cosigner release: After 48 months Loan servicer: American Education Services (AES)
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.50%⁹ - 15.49%⁹	6.37%⁹ - 16.70%⁹	Up to 100% of school-certified cost of attendance
Fixed APR: 4.50%⁹ - 15.49%⁹ Variable APR: 6.37%⁹ - 16.70%⁹ Min. credit score: Does not disclose Loan amount: $1,000 up to 100% of school-certified cost of attendance Loan terms (years): 10 to 20⁹ Repayment options: Full deferral, fixed/flat repayment, interest only, academic deferment, forbearance, loans discharged upon death or disability Fees: Late fee, non-sufficient funds (NSF) fee Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident. Also available to non-U.S. citizen students (including DACA students) attending a school located in the U.S. who apply with a qualifying cosigner. Customer service: Phone, chat Prequalified rates with a soft credit check: Yes Cosigner release: Borrowers can apply after graduation, 12 consecutive on-time principal and interest payments, and meeting certain credit requirements. Loan servicer: Sallie Mae
Compare rates without affecting your credit score. 100% free! Compare Now
Lowest APRs reflect autopay, loyalty, and interest-only repayment discounts where available \| Read our full methodology \| ¹⁰Ascent Disclosures \| ¹Citizens Disclosures \| ^2,3College Ave Disclosures \| ¹¹Custom Choice Disclosures \| ⁷EDvestinU Disclosures \| ⁸INvestEd Disclosures \| ⁹Sallie Mae Disclosures

Managing your teacher student loans

Teaching can be a very rewarding career, and you have plenty of options for employment. According to the Bureau of Labor Statistics, there are over one million high school teachers alone in the U.S. today.

Just keep in mind that while student loans might be your ticket to getting your teacher education, it’s important to remember not to overdo it. Always consider free financial aid (like scholarships and grants) first. If you need to take out student loans, make sure to borrow only what you need to keep your future payments as low as possible.

Don’t forget to check out what your estimated monthly payment could look like using our student loan calculator below.

Enter your loan information to calculate how much you could pay

Loan amount ? Enter the total amount borrowed $

Interest rate ? Enter your annual interest rate %

Loan term ? Enter the amount of time you have to repay your loan years

Total Payment $

Total Interest $

Monthly Payment $

With a $ loan, you will pay $ monthly and a total of $ in interest over the life of your loan. You will pay a total of $ over the life of the loan, assuming you're making full payments while in school.

Need a student loan?
Compare rates without affecting your credit score. 100% free!

Check Personalized Rates

Checking rates won’t affect your credit score.

Keep Reading: Student Loan Requirements

About the author

Lindsay VanSomeren

Lindsay VanSomeren specializes in credit and loans. Her work has appeared on Credit Karma, Forbes Advisor, LendingTree, and more.

Home » All » Student Loans » Teacher Student Loans: Paying for School as a Future Teacher

Teacher Student Loans: Paying for School as a Future Teacher

1. Start with federal student loans

2. Research TEACH Grants

Other scholarships and grants for future teachers

3. Consider taking out private student loans

Managing your teacher student loans

Student Loan Basics

Arizona Student Loans: Paying for College in Arizona

How to Pay Off $30,000 in Student Loans

Student Loan Forgiveness for Teachers