2009 Annual Report of the State-Supported Student Financial Aid ...

Mississippi Teacher Loan Repayment Program (MTLR)Mississippi Teacher Loan Repayment awards are available to Mississippi public school teachers holding a validalternate route educator's license and who are currently teaching full-time in a critical shortage geographical area orsubject area. Participants receive $3,000 per year for a maximum of four (4) years to repay outstanding, qualifyingeducation loans. To be eligible, students must not have received funds through the following state aid programs: CriticalNeeds Teacher Loan/Scholarship Program, Critical Needs Alternate Route Teacher Loan/Scholarship Program, WilliamWinter Teacher Loan/Scholarship Program, or William Winter Alternate Route Teacher Loan/Scholarship Program.The application deadline is March 31 each year.History of Funding and AwardsFY 2005 FY 2006 FY 2007 FY 2008 FY 2009Total Applicants Awarded 0 75 107 73 100Total Funding for Program $ - $ 287,237.00 $ 420,578.00 $ 284,000.00 $ 292,375.00Eligible Applicants N/A N/A N/A N/A 212Award Rate N/A N/A N/A N/A 47%Average Award Amount $ - $ 3,829.83 $ 3,930.64 $ 3,890.41 $ 2,923.75Applicants Not Funded N/A N/A N/A N/A 112Funding Disparity N/A N/A N/A N/A $ 327,460.00(In thousands)$500.00$400.00$300.00$200.00$100.00$-History of Funding (FY 2005 to FY 2009)$-$287.24$420.58$284.00 $292.38FY 2005 FY 2006 FY 2007 FY 2008 FY 2009120100806040200History of Awards (FY 2005 to FY 2009)07510773100FY 2005 FY 2006 FY 2007 FY 2008 FY 2009Awards by InstitutionAwards Loan Servicer Amount4 ACS - New York $ 12,000.008 American Education Services $ 24,000.0014 Chase Student Loan Servicing $ 37,100.002 Citibank Student Loan Corp $ 6,000.0016 Direct Loans - United States Department of Education $ 47,400.009 Edfinancial Services $ 27,000.006 Great Lakes Borrower Services $ 16,100.001 KHESLC $ 3,000.005 MOHELA $ 15,000.001 Nelnet $ 2,775.0026 Sallie Mae Servicing Corp $ 78,000.002 Student Assistance Foundation of MT $ 6,000.00Undergraduate Loan/Scholarship Programs Mississippi Teacher Loan Repayment Program - 75