I understand that the TEACH Grant program has specific service obligations that must be met in order for the award to remain as a grant. If I fail to meet all of the conditions of the award or if the conditions are not documented as required, I understand that the award will permanently convert to an unsubsidized Direct Federal Stafford Loan and that I will be responsible to repay this loan with interest calculated from the disbursement date of the grant. I understand that once a TEACH Grant is converted to a loan, it cannot be converted back to grant.