U.S. Department of Education to Help with TEACH Grant Conversions
The U.S. Department of Education (Department) announced that it will allow TEACH grant recipients who met or are meeting their TEACH grant service requirements and had their grant converted to a loan to have this conversion reconsidered. While there are no details yet, the TEACH Grant webpage states that the Department will share its process for reconsideration by January 31, 2019. This is available only for those recipients who were meeting the requirements and had their loans converted due to noncompliance with the certification requirements.
During the course of the year, stories have arisen of TEACH grants being erroneously converted by the servicer, FedLoan. While the Department is moving into negotiated rulemaking on the TEACH grants starting in January, it is taking action in the meantime to change processes to protect recipients. In addition to reconsideration, the Department is also making a universal annual certification deadline of October 31, starting in 2019.