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Low-Interest Loans for Teacher Interns

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Low-Interest Loans for Teacher Interns

The North Coast School of Education has teamed up with Community First Credit Union to offer low-interest loans that will cover nearly all the tuition costs of future teachers who are enrolled in an innovative teacher-intern program. 

In order to address a statewide teaching crisis and provide more local training options for future educators, Sonoma County Office of Education (SCOE) created the North Coast School of Education (NCSOE) in the fall of 2015. The NCSOE launched an innovative “Be a Teacher” intern program in January of 2016. The intern program is designed to prepare teacher-interns for working in classrooms as paid teachers after completing certain prerequisites and 160 hours of initial training. The new loan program, will award up to two loans of $4,250 each to interns enrolled in the program who have received an offer of employment at a local school or school district. The loan rate will be locked at 4.29 percent, the same as the Stafford loan rate.

“Helping schools, teachers and students is our roots. After all, we were founded by seven Sonoma County teachers in 1961 as the Sonoma County Schools Credit Union. Today, Community First offers 0% agriculture loans to local students, a youth deposit account that pays up to 7.07% – our local area code – and we’ve conducted 150 in-class financial literacy presentations to local students,” said Todd Sheffield, CEO of Community First. “When SCOE asked for our help with its innovative teacher-intern program we were only too happy to lend a hand with a low-cost, flexible loan.” An application, can be found at comfirstcu.org.