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About
Financial Aid Financing a seminary education involves much more than paying bills. It requires prayerful planning and budgeting, good money and time management skills, and the joyful receiving of gifts! This guide describes the different kinds of financial aid available to LTSP students and explains eligibility, application processes and timeline for applying. APPLYING FOR FINANCIAL AID Eligibility All students who are enrolled at least half-time (at least two courses per semester) in a first professional degree program (MDiv or MAR), an approved special program at the first professional level, or an advanced level degree program (STM or DMin.) are eligible for financial aid. (Th.D. and Ph.D. students apply for financial aid using different forms; these students also observe different application deadlines.) You must be a U.S. citizen or permanent resident. When to apply
How to apply
Need-based Grants LTSP Seminary Scholarship Grants LTSP is able to provide substantial, need-based seminary scholarship grants, thanks to the generosity and partnership of people throughout the Church and the support of the Evangelical Lutheran Church in America (ELCA) and other denominations. The majority of LTSP's full-time students receive generous seminary scholarship grants. When you receive such a grant, you are not simply getting money for tuition -- you're being welcomed into a valuable partnership with God’s people -- the Church! FINANCIAL ASSISTANCE FOR ELCA STUDENTS LTSP Tuition Assistance Grant All matriculated ELCA students taking courses at least half-time (a minimum of two courses per semester) are eligible for an LTSP Tuition Assistance Grant. This grant of up to 20% of tuition was formerly known as the ELCA "discount". This grant is available by demonstrating need via the completion of a Free Application for Federal Student Aid (FAFSA) and an LTSP Tuition Assistance Grant (TAG) application. NEED-BASED GRANT/SCHOLARSHIP SUMMARY FOR ELCA STUDENTS At least half-time students: up to 20% of tuition through the LTSP Tuition Assistance Grant Program. Full-time students: 1) up to 20% of tuition through the LTSP Tuition Assistance Grant, and 2) significant additional Seminary Scholarship Grants based on demonstrated need. FINANCIAL ASSISTANCE FOR NON-ELCA STUDENTS Non-ELCA students who are enrolled at least half-time (minimum of two courses for semester) as well as those who are enrolled full-time (at least four courses per semester) are eligible for need-based Scholarship Grants from the seminary based on demonstrated need. Merit Scholarships and Awards Entering Students PHILADELPHIA SCHOLARSHIPS A number of Philadelphia scholarships are awarded to incoming first professional students each year. The scholarships are given to students who have outstanding academic credentials, who write well and who demonstrate exceptional potential for ministry. These scholarships provide full tuition plus a book allowance and fees (including health insurance for the individual student). They are renewable for up to six semesters by maintaining a 3.5 grade point average (GPA). JOHN
COLE GULICK MEMORIAL SCHOLARSHIPS and These generous scholarship funds provide up to full tuition assistance to a number of incoming first professional students who demonstrate exceptional potential for ministry. They are renewed for up to six semesters by maintaining a 3.3 GPA. Note: For the two scholarships listed above, the financial aid committee uses the admissions application to make its decisions. No special application or nomination is required. All applications that include a transcript with a 3.5 GPA (or its equivalent) or above are automatically considered for these scholarships. PRESIDENTIAL SCHOLARSHIPS A number of Presidential scholarships are awarded to incoming first professional students whose strong potential for ministry is demonstrated by a record of service to the church and/or community. These scholarships range from $500 to $4,000, are given at the discretion of the financial aid committee, and are not renewable. Current Students These awards are given annually by vote of the faculty. See the catalog for details and eligibility requirements.
Federal Family Education Loans In addition to seminary need-based grants and merit scholarships, subsidized, low-interest loans are available through the federal government. In order to keep debt-loads as low as possible, students are counseled to use these loans sparingly. The recommended maximum educational debt for a single student is $30,000. To begin an application for a Stafford loan visit the web-site www.aessuccess.org and complete your application; your application is also called an MPN. You must complete the Entrance Counseling available at this site before any of the proceeds from your Stafford Loan(s) will be available to you. Federal Stafford Loan (subsidized, no interest accrues while borrow remains at least a half-time student)
Federal Stafford Loan (unsubsidized)
FEDERAL WORK STUDY The seminary participates in the Federal Work Study (FWS) program provided by the United States Department of Education. FWS positions are available on and off campus for students who qualify. The FWS positions are posted at the beginning of each academic year, or when available, on the FWS board opposite the Financial Aid Office. Each year you will be notified if you qualify for FWS positions when you receive your financial aid award letter from the seminary. The base pay for FWS positions is $8.50 an hour. There are a few positions that pay considerably higher, but there are pre-requisite degree requirements for these higher paying positions. Each year the seminary is pleased to expend over 20% of the federally allotted funds in after school tutoring programs at local off campus sites. Teaching and Research Assistant positions are also available for students who qualify and are enrolled in advanced degree programs. The students who will fulfill these TA and RA positions are selected by faculty members from those who qualify and are pursuing either STM, Th.D. or Ph.D. degrees. OTHER SOURCES OF FINANCIAL AID It is important to consider and pursue non-seminary sources of financial aid for your seminary expenses. Plan carefully how you will use your personal resources. But also ask family and friends for their support. You just might be surprised by who is eager to help! Apply for aid from your congregation. Even small congregations should be able to help some, for instance by buying your books. Also, inquire about financial aid from your local judicatory (synod, diocese, presbytery, etc.). A list of other sources of financial aid is available by request from the financial aid office. Also, visit www.thefund.org for a listing of scholarships for which you might be eligible. Questions?
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