The Teacher Education Assistance for College and Higher Education (TEACH) is the federal grant program that helps students from low-income families. This program provides up to $4000 per year for the students that are willing to teach in the public or private schools.
Previously, the recipient had to complete the required four years of teaching within the eight years of period after graduation. If any recipient failed to do so, then the grant would be converted into loan that must be repaid with the interest.
But the US department of Education announced some important changes in the program to make it flexible. These recipients will no longer have their grants to be converted into the loans. The recipient whose grant converted into the loan will be reconsidered.