AUSL's Chicago Teacher Residency Program provides an attractive package of financial supports to enable residents to make a full-time commitment to training during the residency training year. Financial aid and loan forgiveness are available to help residents offset their Master's degree tuition costs.

Training Salary and Stipend: Residents receive $30,000 over the course of their training year, beginning in June. This includes $18,000 in salary plus a $12,000 stipend. Salary and stipend are paid out biweekly over the course of the year. Residents commit to teach in a high-needs Chicago Public School selected by AUSL for at least four years following graduation. Residents who do not keep this commitment are obliged to repay all or a portion of the stipend, depending on how long they serve.

Additional Stipend for Mathematics Teacher Training: Residents who train to teach Mathematics (middle or secondary) will receive $40,000 over the course of their training year. This includes $18,000 in salary plus $22,000 in stipend. >> Learn more

AmeriCorps Education Award: Residents who complete their year of training and service earn a $5,500 Segal AmeriCorps Education Award. This voucher can be used to repay loans or pay education costs at qualified institutions of higher education (including your National Louis Master's degree costs). Award benefits are taxable income when they are redeemed. >> Learn more

Discounted Tuition from National Louis University: National Louis tuition for AUSL residents is significantly discounted from regular rates. Tuition and fees for the 2012-13 year will be announced in spring 2012.

Teacher Loan Forgiveness: Residents may borrow from federal student loan programs. Under the Stafford Loan program, individuals who teach full time for five consecutive, complete academic years (following the AUSL training year) in high-needs schools (AUSL schools all qualify) may be eligible for loan forgiveness. Math, science, and special education teachers are eligible for up to $17,500 of loan forgiveness; teachers of other subjects are eligible for up to $5,000. >> Learn more

FAFSA

Any resident seeking financial assistance will need to complete a Free Application for Federal Student Aid (FAFSA), as soon as possible after January 1, 2012. >> Learn more

Other Financial Aid Resources

TEACH Grant: Residents preparing to teach Math, Science, Special Education, or Foreign Language in high-needs schools are also eligible for up to a $4,000 grant towards education expenses (individuals must teach in qualifying schools and subject areas for four of the eight years following graduation). >> Learn more

Illinois Student Assistance Commission (ISAC): >> Learn more

Minority Teachers of Illinois: >> Learn more

Illinois Future Teacher Corps: >> Learn more

Health Insurance

The Chicago Teacher Residency program does not include health insurance benefits. Residents under age 26 may be eligible for coverage by their parents' plans. If you need to purchase individual insurance, call AUSL Admissions at 773-534-0129.