The TEACH Grant Program provides grants to students who intend to teach full-time in high-need subject areas at a public elementary or secondary school that serves students from low-income families. In exchange for receiving a TEACH Grant, the student must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low- income students. The student must also teach at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant. If the student fails to fulfill this obligation, all amounts of the TEACH Grant received will be converted to a Federal Direct Unsubsidized Loan. Interest will be charged from the date the original grant was disbursed, and the student must repay this loan to the U.S. Department of Education.