Finances in Baltimore

NEW: Signing Bonus & Transitional Assistance Available for Members of Cohort 2023

Urban Teachers is offering a $1,000 signing bonus AND $2,000 in transitional assistance to future teachers who join us in 2023. Plus Cohort 2023 members are able to apply for additional transitional funding up to a total of $4000 (i.e. $2000 additional dollars) through a needs-based application process.

Baltimore is a great place to teach and live. Participants can make a great living as highly effective teachers in the district! The career pathways model used in Baltimore City Schools allows teachers to take control of their career within a system of professional development and salary growth.

Program Costs vs. Financial Aid & Benefits

¹The residency financial compensation is currently $28,000
²Signing Bonus — All accepted Cohort 2023 applicants who have 1. signed their letters of intent, 2. completed their enrollment into American University will receive a $1,000 signing bonus.
³Transitional Assistance – All accepted Cohort 2023 who have signed their letters of intent and are planning to matriculate into UT will receive $2000 to aid in their transition to Urban Teachers and may apply for additional funds up to a total of $4000 (i.e. $2000 additional dollars) through a needs-based application process
⁴Learn more about Teach Grants; AmeriCorps Learn more about AmeriCorps; Only participants identifying as Black or African-American qualify for the UNCF Black Educators Fellowship. Learn more about the UNCF Black Educators Fellowship
⁵The lifetime learning credit offers a credit of 20 percent of up to $10,000 in expenses, for a maximum credit of $2,000. The tuition and fees deduction allows you to deduct $4,000. Since it's a deduction, you have to multiply the deduction by your tax rate to figure the savings. For example, if you fall in the 30 percent tax bracket, a $4,000 deduction saves you $1,200.
⁶Learn more about federal loan forgiveness
*Total Compensation refers to the residency stipend from your school plus an additional amount (in some cities) to address cost of living disparities and ensure equity across all school partners

**Salary based on drafted BTU contract. Amounts may vary.
***https://www.baltimorecityschools.org/tuition-reimbursement

BENEFITS

• Baltimore City Public Schools Career Pathways
• Baltimore City Public Schools Current Teacher Contract
• Baltimore City Public Schools Teacher Evaluation

Baltimore participants also may be eligible for the following scholarships, loan programs, and financial supports:

Baltimore City Public Schools Tuition Reimbursement

• Eligibility Criteria: City Schools staff pursuing graduate courses who meet the grade requirement of ‘B’ or better. Teachers with less than five years of continuous service receiving tuition reimbursement shall be required to remain an employee of BCPS for two school years following receipt of tuition reimbursement.
• Benefits: Up to 75% reimbursement on tuition expenses, for a maximum of 12 credit hours per school year.
• When to start: Applications are due near the beginning of each semester. Submission of proof of grades and payment are due at the end of each semester. Refer to the City Schools website for exact deadlines and application information.

Maryland Quality Teacher Incentive Credit

• Eligibility Criteria: Teach in a public school and receive satisfactory performance, hold a standard or advanced professional certificate, complete graduate courses with grade of B or better, and not fully reimbursed for tuition expenses.
• Benefits: Up to $1,500 tuition tax credit
• When to start: Teachers can apply this on your tax return once you receive your standard teaching certificate (most commonly at year 3) . Refer to instructions and information provided by the Comptroller of Maryland.

Central Scholarship 

• Eligibility Criteria: Must be a Maryland resident with a GPA of 2.8 or higher and a family income of $90,000 or less.
• Benefits: Scholarships and interest-free loans are available.
• When to start: Refer to application information provided by Central Scholarship. Applications are often due mid-March. 

Janet L. Hoffman Loan Repayment Program

• Eligibility Criteria:
  • By School: Teachers at any level or subject field who are employed in a public school within the state; teachers in certain schools and subject areas may be prioritized for awards.

• Benefits: Amount determined by overall debt and renewal applications, but can be up to a maximum of $30,000. Awards may be distributed annually over a three-year period, as long as the recipient remains eligible. 

When to Start: Submit initial application in the second summer of the program. Applications typically open in July and close in October 1st. We encourage participants to submit applications early. Participants may be eligible for renewal applications in Fellow Years 2 and 3.

HOUSING SUPPORT

• Live Baltimore—Resources and incentives for renting and buying in Baltimore.
• Teacher Props-- Lists affordable rowhomes specifically for teachers to rent.
• The following companies also offer discounts and incentives for teachers: Miller’s Court, Union Mill, and Southern Management.
• ReBuild Metro - Rental properties and homes for sale in several neighborhoods, including Johnston Square.  They have programs for home buying.

ADDITIONAL COSTS

Anticipated categories and expenses include, but are not limited to:

Please Note: This information relied on existing information at the time of its publication. Costs may vary from what is written above. Staff will update this page and reach out to participants with more information as it becomes available.