New TEACH Grants May Come at a Price For Many Recipients

This fall, hundreds of eager teachers-to-be will undergo their training with the backing of federal dollars from a new scholarship program.

A decade from now, that money will be a boon to some of those teachers, who will have subsidized up to $24,000 worth of coursework. But it will be burden to others, who will have to repay their entire subsidy—with interest.

Such are the promises and pitfalls of the Teacher Education Assistance for College and Higher Education , or TEACH, grants, which the Department of Education is...