Students may be awarded up to $4,000 per award year, with a maximum aggregate limit of $8,000. The amount a student may be awarded each year is determined based on their level of enrollment. In exchange for the grant, a student must agree to teach for at least four academic years within eight years after completing (or ceasing to enroll in) the graduate degree program for which the candidate received the grant. This grant is conditional upon meeting these expectations and will convert to a Federal Direct Unsubsidized Stafford Loan if all annual reporting requirements are not met. If the TEACH Grant is converted into a Federal Direct Unsubsidized Stafford Loan for any reason whatsoever, even in error, there is no way to reverse the conversion and interest will be assessed from the date the TEACH Grant was first disbursed upon.