Only the NASUWT has rejected the offer
Four out of five recognised teaching and lecturing trade unions have now accepted a government pay deal.
The Department of Education, Sport and Culture confirmed the decision a short time ago.
Acceptance has now been received from the Association of School and College Leaders, the National Association of Head Teachers, the National Education Union, and the University and College Union.
Just the NASUWT, which represents the largest number of teachers on the Island, has rejected the offer - its members go on strike next week.
The Department has stated it will provide a further update on Monday.