Finances

 Financial Structure

Becoming a teacher should not be a financial burden.

The Inspired Teaching Residency is intentionally structured to be financially affordable and competitive.

Residency Year

What you earn

$500 summer institute stipend

$15,000 total living allowance paid in monthly increments

$5,920 AmeriCorps education award, based on eligibility and AmeriCorps funding

Health insurance reimbursement

What you pay

$7,980 tuition to Trinity Washington University

Fellowship Year

What you earn

Full teaching salary from your school of employment

Starting salary for Inspired Teaching Fellows at DCPS is around $56,000 to $58,000

What you pay

$7,380 tuition to Trinity Washington University

Alumni Teaching Commitment

Inspired Teaching expects program alumni to commit to teaching in DC public or DC charter schools for a minimum of two years beyond program completion, ultimately serving the children of DC for a minimum of four years.

 Financial Assistance Opportunities

All Inspired Teaching Fellows are eligible for the following financial benefits:

Segal AmeriCorps Education Award: Fellows who successfully complete the AmeriCorps term of service may be eligible to receive a Segal AmeriCorps Education Award, of up to $6,095. This money can be used to pay educational expenses at eligible post-secondary institutions or to repay qualified students loans.

Federal Aid: As full time graduate students, Fellows may receive up to $20,500 in federal student loans. Fellows must complete the FAFSA form listing Trinity Washington University as the graduate school to receive federal aid.

Inspired Teaching Fellows may also be eligible for the following financial benefits & loan forgiveness programs:

Troops to Teachers: Through Troops to Teachers, current and former members of the Armed Forces can receive support during their transition into K-12 teachers. Participants who agree to teach full time for at least three years at a qualifying elementary or secondary school may be eligible for financial assistance of up to $10,000.

The Teacher Education Assistance for College and Higher Education (TEACH) Grants Program: These grants provide up to $4,000 per year to individuals who intend to teach in a public or private elementary or secondary schools that serve students from low-income families.  TEACH Grant recipients must teach for at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant. Inspired Teaching Fellows may be eligible depending on where they choose to teach during and after their Fellowship Year.

Teacher Housing Grants: The Teacher Next Door Program will provide DC teachers with grants of up to $4,170 to use towards the purchase of a home. Some teachers are also eligible for down payment assistance.

Teacher Loan Forgiveness: Under the Teacher Loan Forgiveness Program, teachers who teach full-time for five complete and consecutive years may be eligible for forgiveness of up to $17,500 on your Direct Subsidized and Unsubsidized Loans and your Subsidized and Unsubsidized Federal Stafford Loans.

Perkins Loan Forgiveness: Full-time teachers in an elementary or secondary school that serves students from low-income families can have a portion of their Perkins Loan forgiven under The National Defense Education Act. This program forgives 15% of your loan for the first and second years of teaching, 20% for the third and fourth years, and 30% for the fifth year.  

Public Service Loan Forgiveness: The Public Service Loan Forgiveness Program is intended to encourage individuals to enter and continue to work full-time in public service jobs. Under this program, borrowers may qualify for forgiveness of the remaining balance of their Direct Loans after they have made 120 qualifying payments on those loans while employed full time by certain public service employers.

Learn more about different loan forgiveness programs for teachers here.

The best education courses I have taken – including my masters classes – have been from Inspired Teaching. I learned practical things that I could put into place the very next day.

— Inspired Teaching Fellow (’09)

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