Salary and Benefits

Salary
The starting salary for Fellows is the same as that for all other beginning teachers in the IPS system; for the 2007-2008 school year, a first-year teacher made approximately $34,600 annually.  Teachers with a master’s degree directly related to their teaching assignment received an additional $1,400 in pay. Charter schools in Indianapolis range from $34,000-$40,000.  Fellows who successfully complete the Training Institute and meet pre-employment requirements become salaried employees of IPS in August.  Teachers normally receive their first paycheck at the end of the first month of teaching.

Summer Stipend
Upon completion of the Summer Institute, Fellows are provided a $2,000 (pre-tax) stipend. The stipend is distributed at the end of the training.  Because the stipend is distributed at the end of the six-week training and there could be more than one month of time between the end of the Summer Institute and a Fellow’s first paycheck, we strongly encourage Fellows to plan appropriately to ensure their financial well-being during this time. 

Benefits
When Fellows become employees of Indianapolis Public Schools (after successfully completing the Training Institute), they are eligible for the same comprehensive benefits as all new teachers. These benefits include medical, dental, vision, and life insurance coverage.  For more information on teacher benefits, visit the IPS Benefits Department.

Loan Forgiveness
Fellows with Stafford and Perkins loans may be eligible for loan deferment or forgiveness.   

Please visit the Federal Student Aid website for more information about the Teacher Loan Forgiveness Program.