Union-PSCE offers a generous financial aid program that includes need-based grants, loans, and merit scholarships. While Union seeks to help students meet the expenses of attendance, the ultimate responsibility for these costs rests with the student. Churches or denominations that endorse persons to prepare for ministry usually offer personal encouragement, spiritual oversight, and fiscal support. It is the student's responsibility to secure financial support from a church or denomination.
Union-PSCE Funded Programs
Need Based Grants
Student Eligibility and Application Process
Need-based grants are available to qualified students in certain professional degree programs. The deadline to apply for need based aid is May 14, 2010.
- Students in the M.A.C.E., M.Div., and M.Div./M.A.C.E. programs are eligible to apply for Union-PSCE need-based grants.
- Recipients must be full-time students, making satisfactory progress in their degree program, and not be in default on previous student loans.
- Eligible students must submit the Union-PSCE Application for Need-Based Financial Aid and be admitted before the last Friday in May.
- Need-based grant recipients must re-apply and re-qualify each year.
- Prospective students may submit the financial aid application beginning March 1 when the application bcomes available on the seminary website. For best consideration, applicants should be admitted and apply for aid by April 15.
Denominational affiliation, degree program, and status may affect the level of tuition support. Students who are members of the Presbyterian Church (U.S.A.) may be eligible for need-based grants of up to 100 percent tuition. Entering M.Div. and dual degree students must:
- Make initial contact with their Committees on Preparation for Ministry; and
- Submit the Letter of Acknowledgement as evidence of their status. Returning students must be at least Inquirers by the start of their second academic year in order to maintain 100 percent tuition support eligibility. M.A.C.E. students must present a letter of endorsement from their sessions or pastors.
All other qualified basic degree students in eligible programs may receive need-based grants of up to 75 percent tuition. This includes students who are members of the PC(USA), but who do not intend to be under care, or who do not have endorsements from their sessions.
Merit Aid
Union-PSCE offers merit awards for study in the first professional degree programs—the M.Div., M.A.C.E., and M.Div./M.A.C.E. — and in the Ph.D. program.
Union-PSCE offers a number of opportunities for outstanding students in the M.Div. and its associated dual programs to receive merit awards. The purpose of these awards is to encourage excellence in pastoral ministry, particularly in the PC(USA). We look for students who show genuine promise for outstanding leadership in the life of the church, demonstrated by academic achievement and participation in the common life of their churches and communities.
All admitted applicants are considered for merit awards. No additional application is required. For optimal consideration for any merit award, the application for admission should be complete by March 15.
Merit awards and fellowships are disbursed in September and February.
Promise for Parish Ministry Scholarships
This grant program was established in the 2008-2009 academic year to encourage regularly admitted, basic degree-seeking students to pursue parish ministry, particularly full-time parish ministry with the Presbyterian Church (U.S.A.). The value of the awards varies. Awards generally cover the full tuition for Presbyterian Church (U.S.A.) students while non-Presbyterians receive approximately 75% of tuition. Grants of up to $6,000 per year may also be awarded in addtion to the tuition support. Students are automatically considered for these awards and no application is necessary. However, a personal interview with at least one faculty member and/or the director of admissions is highly recommended.
Ph.D. Merit Fellowships
Ph.D. students normally qualify for Union-PSCE fellowships for the first year of study, which are renewable for the second year if the student maintains satisfactory performance. Fellowship support is limited to the first four years of the doctoral program. Entering Ph.D. students do not complete special applications for Union-PSCE fellowships. Students are automatically considered for such aid during the admissions process.
In addition, a limited number of teaching and research assistant positions are awarded to continuing students each year. Students who qualify for Union-PSCE assistantships may also be eligible to continue receiving their fellowships. Continuing students who desire consideration for assistantships apply to the director of graduate studies during the spring term for appointments effective in the coming academic year..
Prizes
Each spring, the faculty committee on student assessment awards a number of prizes to currently enrolled students. Prizes awarded for basic degree work are generally valued up to $1,000. Prizes for advanced work have a substantially higher value. No application materials are necessary for consideration, except in the case of prizes that require an essay and certain faculty fellowships that require a formal application.
Other Sources of Funding:
Presbyterian Church (U.S.A.) Grants
Students who are members of the Presbyterian Church (U.S.A.) may be eligible to apply for grants from the denomination through the Louisville Office of Financial Aid for Studies. A student in the M.Div. program must be enrolled as an inquirer or candidate.
Outside Scholarships
The Fund for Theological Education
Information and grants from outside sources can be found at the Fund for Theological Education website.
The GTU Scholarship Database
Another excellent source for grants and scholarships is the Graduate Theological Union Scholarship Database. This is a fully searchable database of scholarships and grants for people studying religion, humanities, and ministry preparation.
Start your search early. Most scholarships have an application deadline in February or March.
Federal Stafford Loan Program
Union-PSCE also participates in the Federal Stafford Loan Program. While loans should be viewed as a last resort to financing a theological education, some students find them necessary to meet expenses. Approximately 15% of our students borrow from this program each year. Eligible students may borrow up to $20,500 each year. There are two types of Stafford Loans - subsidized loans and unsubsidized loans. The maximum subsidized loan is $8,500 per year while the maximum unsubsidized loan is $20,500 per year.
After completing their tax return, students considering a loan should complete the Free Application for Federal Student Aid at http://www.fafsa.gov. Be sure that they complete the FAFSA that relates to the academic year for which you are seeking a loan. Students should key in the Union-PSCE school code of G03743 when completing the FAFSA as well as provide accurate rather than estimated data on the FAFSA.
As a result of pending legislation, all post-secondary schools, including Union-PSCE, will be required to make the switch from the Family Federal Education Loan Program (FFELP) into the Direct Loan (DL) program in the near future. Union has decided to implement the switch to DL effective with the 2010-2011 school year. All loans originated at Union for the 2010-2011 school year and beyond will be provided through the DL program.
The two main differences for borrowers will be:
- The Department of Education will be every student's lender.
- Every borrower will be required to complete a new Master Promissory Note.
Additional information regarding loans is available from the Financial Aid Office.
Private Student Loan Programs
Most private loan programs, especially those offered by banks or other profit-oriented organizations, generally offer student loans at terms less favorable than the terms available through the Federal Stafford Loan Program. However, many churches and church-affiliated organizations offer private loans for theological students with terms more favorable than those available through the Federal Stafford Loan Program. Some student loan programs offered through church-affiliated organizations have loan forgiveness provisions based on service to the church and/or more favorable interest rates. Contact your church or related organizations for additional information.
