Runner_Dean, be aware that education is not a major at ND. There is a minor, however, called Education, Schooling, and Society. The minor consists of two required courses and three electives (for a total of 15 credits). Note that the ESS program does not give you the certification required for elementary and secondary teaching, it's more learning about teaching rather than learning how to teach. If a certification is what you're after (how to teach), you can take courses at St. Mary's College through ND's College of Arts and Letters.
More information about ESS here:
Interdisciplinary Minor in Education, Schooling, and Society : University of Notre Dame
The program you describe is ACE (Alliance for Catholic Education), which is - based on what I've heard - a difficult program to get into. It's a program for which you apply during your senior year. However, if you are accepted into ACE, they'll pay for your Masters of Education degree and, upon completion of the program, you'll get your teaching license (for the state of Indiana). The ACE program itself does not cost anything, in fact, you'll get paid for it.
More information about ACE here:
Alliance for Catholic Education // University of Notre Dame