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Financial Assistance

The goal of The New Teachers College is to provide information, guidance and support to students to help them meet the financial obligations of College tuition and expenses, while meeting their own personal financial needs.

The College has two categories of scholarship awards and affiliations with lending institutions in the greater Cleveland area for access to educational loans. Students must be enrolled in a degree seeking program to receive a scholarship and/or to apply for an educational loan. Scholarships are applied to tuition only, and students should expect to provide additional funds for the tuition balance, fees, medical insurance, academic, and living expenses.

Scholarship for Students from Underrepresented Populations

This scholarship is limited to those who are seeking initial teacher licensure. To encourage a wide range of diversity among the teachers of our children, the College offers two incentive scholarships in this category, up to $3,000 each, annually. Applicants would be students who typify an underrepresented population in the teaching force. Scholarship application forms are sent to all students once admitted into the degree program.

Scholarship for Students with a Commitment to Teach in Urban Settings

This scholarship is limited to those who are seeking initial teacher licensure. To encourage our best trained teachers to work with some of our most disadvantaged children, the College offers two incentive scholarships in this category, up to $3,000 each, annually. Applicants would be students who have a strong interest in and commitment to teaching in urban settings, whether public, charter, private or parochial. Scholarship application forms are sent to all students once admitted into the degree program.



Educational Loans

The New Teachers College has established relationships with several banking institutions in the greater Cleveland area that provide educational loans. These banking institutions provide these loans at low interest rates to credit-worthy borrowers.

In general, you may borrow funds equal to the cost of education minus any financial assistance offered through the College. The credit-worthy borrower does NOT need to be the student. a parent or significant other can borrow for the student.

The following table indicates how the loan may be applied for and who the contact person is for each banking institution.
A paper application can be requested for those who prefer to not use the Internet. Many may be applied for over the
Internet and all have 800 numbers for your use.

Because a credit check is involved, it is wise to apply for these loans as soon as possible.
We suggest you apply to more than one creditor.

Lending Institution Contact Info Enrollment Requirements/Status Loan Limits Repayment Guidelines Special Notes & Fees
KeyBank 800-key-lend
key.com/educate
Degree-seeking, at least half-time, credit-worthy student or co-signer $10,000 per year Repayment plans available Pre-approval
Fees: 4-9%
National City Bank 800-255-8374
teri.org
Degree-seeking, at least half-time, credit-worthy student or co-signer Cost minus aid up to $15,000 per year Min. $50 monthly payment. Options available. Fees: 5-6%
CitiAssist Loan/CitiBank 800-745-5473
studentloan.com
Degree-seeking, at least half-time, credit-worthy student or co-signer Total cost of education minus aid 15 years for graduate Fees: None
Bank One 877-663-3906
StudentLoanNet.com
Degree-seeking, at least half-time, credit-worthy student or co-signer Cumulative borrowing limit up to $100,000 20 years Fees: 4.99%
FifthThird Bank 800-695-3317
salliemae.com/signature/fifththird
Degree-seeking, at least half-time, credit-worthy student or co-signer Cost of attendance minus aid Begins 6 months after graduation or dropping to less than 1/2 time enrollment. Repayment terms at least 15 years Fees: 0-6%
Educaid Select Load 800-776-2344 Degree-seeking, at least half-time, credit-worthy student or co-signer   No origination feed. Students may apply alone or with a co-borrower Fees: Prime rate + 0.5%

Information provided is subject to change. Please contact the lender for the most current information.