It is designed to assist students with their school expenses. The rate of pay varies but is at least equal to the minimum wage set forth in the Fair Labor Standards Act. Loan funds for this program are received directly from the U.S. Department of Education to assist eligible students in the financing of their seminary education. A student may apply if enrolled or accepted for admission as at least a half-time student. This program is funded by the federal government.
Funds are available to both new and returning students.
A student must be enrolled or have been accepted for enrollment in full-time or at least half time studies and must demonstrate financial need. There are deferment and cancellation advantages with this program. Denominational gifts and grants are available through the respective denominations. Please file an application with the respective administrative dean of the seminary in which you plan to enroll. This need-based scholarship is used to decrease the amount of educational loans given to a student.