In the Red for Ed? Using Forgivable Loans to Recruit Future STEM Teachers: A Case Study

• In Event: The Complexities of Paying for College

Abstract

Like many states, North Carolina is experiencing teacher shortages in STEM subjects. A recent policy response is the 2018-2019 re-implementation of a formerly popular program in the state, the North Carolina Teaching Fellows Program (NCTFP). The NCTFP incentivizes talented postsecondary students’ entry and retention into teaching careers in high-demand subject areas by providing selected students with up to $8,250/year in forgivable loans. Loans must be paid back in qualifying teacher service in public schools within the state, or in cash with interest. This qualitative case study utilizes concepts from behavioral economics to understand 10 participants’ career development and interests in secondary STEM education, including the cost/benefit analyses students make to participate in the NCTFP and bounded rationality in these processes.

Author

• Katie N. Smith, Seton Hall University