Financial Aid
Frequently Asked Questions
Welcome to our Financial Aid FAQ page, which has been updated as of February, 2010. We hope this question-and-answer format helps you understand our financial aid program here at Concordia Theological Seminary (CTS). CTS grant-in-aid money is available only to students enrolled in recognized programs leading to ordination as pastors and to certification as deaconesses (including M.A. in Deaconess Studies through distance learning) in The Lutheran Church-Missouri Synod. In order to be eligible for either gift aid or Federal Student loans in any given term, you must be accepted into a degree (or certificate) program and enrolled at least half-time in that term. CTS grant-in-aid is not available for courses that are taken in addition to one's program degree requirements. Students in programs such as D.Min., M.A., Ph.D. and S.T.M. are not eligible for the regular CTS grant-in-aid, but may apply for Federal Student loans and Federal Work Study. Students in these programs (D.Min., M.A., Ph.D. and S.T.M.) should contact the Dean of their program for information about other grants, scholarships or graduate assistantships that may be available.
1. How much does it cost to attend Concordia Theological Seminary?
We prepare a budget for students in each of various categories. For Federal financial aid purposes, this budget is called the "Cost of Attendance," or COA. Please note that these budgets represent the academic year cost for a full-time student and do not include family member living expenses. These budgets are based upon average expected expenses for the school year. Actual costs will vary. Please see question #4 (Seminary Cost Estimator) to develop a total budget for your own particular situation. To see the expected Cost of Attendance of your program, click on one of the choices below:
Academic Year 2009-10
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Academic Year 2010-11
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All categories below:
MDiv-AR, Residence Hall
Deac-MA, Residence Hall
MDiv-AR, Married, no children
MDiv-AR, Married, 1 child
MDiv-AR, Married, 2+ children
Summer Greek
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Click on the appropriate category below:
MDiv and AR programs
MA, MA–Deac., and MA in Deac. Studies (distance learning) programs
PhD and STM programs (residential)
PhD, DMin and STM intensive programs
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2. How do I apply for financial aid?
Step I Complete and transmit to us your CTS Financial Aid application electronically by clicking
here.
Summer 2010 Greek or the summer sessions of 2010 require a 2009-10 CTS Fin. Aid application (see drop down menu) and a 2009-10 FAFSA.
Step II – File the
Free Application for Federal Student Aid (FAFSA)
for the appropriate year. You will need information from your previous year's Federal Income Tax Form 1040. To save time, it is a good idea to file your income taxes before you file your FAFSA. Before you begin, download the FAFSA Worksheet (available at the above FAFSA link) and organize your material. You will need our Federal School Code, which is
G20876. If you want to file a paper FAFSA, you must call the Federal Student Aid Information Center (1-800-433-3243) and order one. It is highly recommended that you file your FAFSA online soon after you complete your taxes in order to give the CTS Financial Aid Office sufficient time to calculate your need and loan eligibility.
[Steps III and IV apply to only those in the residential (on-campus) MDiv, AR or MA-Deac. Programs who qualify for District and congregational aid]
Step III – Apply to your LCMS District. Print the "
District
Financial Aid Application" (available in PDF), complete Section One, sign
it, ask your pastor to sign it and mail it to us.
Do not mail it to your
District. We will complete Section II and then forward it to your District.
Your District’s application deadline is on the list of
District Financial Aid Contact Persons
(available in PDF). Be sure to check for asterisks and note whether your District requires any different – or additional – application steps. We must receive your FAFSA, your CTS Financial Aid application, and your "District Financial Aid Application" at least two weeks before your District's deadline. New students, please be aware that the seminary and your District cannot process your financial aid application until you have been granted admission and submitted your FAFSA.
Returning students, please note that your financial aid deadline is May 1 (or two weeks before your district deadline - whichever comes first).
Step IV – Ask your pastor and the leaders of your home congregation to support your seminary study. We will also write on your behalf, asking your home congregation to consider supporting you with gifts totaling $3,000 for the year. Your congregation may or may not be able to help that much. Ask early in order to give your congregational leaders time to plan for your support. We recommend that congregations send their support just before each academic quarter begins to the CTS Financial Aid Office with a check made out to “Concordia Theological Seminary” and identified by the student’s name.
3. What is CTS grant-in-aid and how is it calculated?
CTS grant-in-aid is only available to those enrolled in recognized programs leading to ordination as pastors and to certification as deaconesses in the Lutheran Church-Missouri Synod (i.e. M.Div., A.R., M.A.-Deaconess, and M.A in Deaconess Studies). The grant-in-aid you receive from the seminary is to offset a portion of your actual tuition you are charged each quarter. The maximum CTS grant-in-aid for 2010-11 will be 50% of your actual tuition. Your grant-in-aid percentage for the year is based on your Expected Family Contribution [EFC] derived from your FAFSA as a ratio of your Cost of Attendance [COA].
You can use the calculator provided here to see what percentage of your
actual tuition will be covered by CTS grant-in-aid.
Usually about 75% of our eligible students qualify for the maximum tuition grant-in-aid percentage. Please note: Home congregation support, District support, all outside scholarships and Student Adoption Program gifts are applied to your student account in addition to your CTS grant-in-aid. We encourage you to apply for every scholarship possible.
If you do not know your EFC and would like to obtain an estimated EFC, you can visit the College Board EFC Calculator and receive a free estimate. Please use the Federal Methodology (FM) for best results. Please note that we must use the EFC based upon a valid FAFSA in order to actually give you any CTS grant-in-aid.
4. How can I estimate my costs for the year and know
if I will need a Federal Student Loan?
We have prepared a Seminary Cost Estimator
to help you with this important and sometimes challenging task. If you’re not sure if you will need to borrow right now, you can still do so later on the school year. You can also adjust your loan upward or downward, or cancel it altogether later in the year (but before the end of your last academic term for the school year). Keep in mind that, besides tuition, you may have many costs to cover yourself, whether by earnings, savings or loans. Please note: Bills are available on your student portal sometime during the first week of each quarter and are due at the end of the third week of the quarter. Your student bill must be paid each quarter in order to be registered for the next academic quarter.
5. How do I apply for student loans?
When you file your FAFSA, you will receive an Award letter that will include a Student Loan Award sheet and a calculation of your estimated loan eligibility. After receiving your Award letter, if you decide to borrow, click on the link to go to our Loan Application Process
and follow the steps indicated to complete a Master Promissory Note and take Entrance Counseling. Your completed Student Loan Award sheet must be returned to the Financial Aid Office, if you decide to borrow. Your official loan application is your completed and signed Student Loan Award sheet. Loan applications for 2009-10 can be submitted up until the end of the award year (summer term). Loan applications for 2010-11 will be processed after July 1, 2010. If you are not interested in receiving a student loan, please hold on to your Student Loan Award sheet so that you can return it later on if you decide that you need to borrow.
6. Are short-term loans available?
Yes. If you have a temporary cash-flow problem, but don’t need a Federal Student Loan, we may be able to help. The seminary offers to enrolled students (not on vicarage or internship) a 60-day, interest-free emergency loan for $1,500 or less. There is a charge of 1.5% per month, starting with the loan date, on emergency loans that are not repaid within 60 days.
7. Is financial aid available for summer classes?
Yes. If you receive financial aid during the regular academic year, you will also receive CTS grant-in-aid for your summer classes. No special application is required. Your total summer gift-aid will probably be less, since District aid, home congregation gifts, Student Adoptions, and outside scholarships do not normally continue during the summer.
Please note: There is no CTS grant-in-aid for Greek, Old Testament Bible, or New Testament Bible. The tuition for summer 2010 Greek is $285 per credit hour; tuition for pre-seminary courses taken beginning in the fall of 2010 will be $310 per credit hour.
8. Where can I get information on other scholarships and grants?
We have prepared a list of
Outside Scholarship Resources, for you. Look over the list, take note of any deadlines, and apply for all those for which you are eligible.
9. Does the seminary have a Work-Study Program?
Yes, the seminary participates in the Federal Work Study program. Numerous on-campus and community service jobs are available. All students seeking employment on-campus must be willing to accept Federal Work Study funds as part of their financial aid package (must also complete a FAFSA to show eligibility requirements are met). Some jobs, such as work in the chapel, are not eligible for Federal funding. Students hired for these jobs are paid from Institutional Work-Study Funds. Students looking for employment on campus must first inquire at the department where they are interested in working (Library, Information Technology, Mailroom, Student Commons, Co-ops, Dining Hall, Security, Gymnasium, etc.).
10. How does the Student Adoption Program work?
Our office will match you with a church, church
group, or individual wishing to adopt a student. Student Adoption
provides a supplement to your financial aid and, in addition, gives you
opportunity to "meet new friends," through your thank-you notes and
telephone calls. To participate, please complete the online Application for Student Adoption. Note:
M.Div., A.R., and Deaconess students may apply for the student adoption
program. When you sign up for Student Adoption you are obligated to
send thank-you notes and/or letters whenever you receive financial
support from your adopters. Remember, students must register for the Student Adoption Program each year they are attending classes on campus.
11. How does the Food and Clothing Co-op work?
These significant in-kind resources are separate from and added to your regular financial aid. While they are designed to help families, residence hall students can also utilize the Co-op for such items as snack foods, toiletries and clothing. Families will typically receive 75%, or more, of their food, paper products, baby diapers and other household supplies through the Co-op. The Co-op provides families with high-quality used clothing and household furnishings donated by church members throughout the country. Please visit the Food & Clothing Co-op page for additional information.
12. How does dropping a class or withdrawing from the seminary affect my financial aid?
If you drop a class in the middle of the quarter,
all of your seminary tuition grant money for that class will be removed
from your account and you will be responsible for any remaining tuition
costs (see the Academic Calendar or Academic Catalog for tuition refund
rate schedule). If you drop classes with the result that you fall below
half-time status (6 credits for M.A., M.Div. and A.R.) you will lose all your CTS grant-in-aid money and Federal Student loans for that quarter. If you withdraw from the seminary during the middle of the quarter, both your seminary grant money and Federal financial aid are affected. Please click here to read our Return of Financial Aid Funds Policy for Students who withdraw from the Seminary.
13. What are my options for repaying my student loans?
You do not have to begin repaying your Federal Student loans until you leave school (graduate, withdraw or take a leave of absence) or drop below half-time status in your enrollment. Vicarage and deaconess internship should not cause your loans to go into repayment. Please contact your lender if you receive payment notification during your vicarage or deaconess internship year. There are several repayment plans available: Standard, Extended, Graduated, Income Based Repayment (IBR), Income Contingent Repayment (ICR) (available to borrowers with Direct Loans), and Income-Sensitive Repayment (available to borrowers with FFEL Loans). The repayment period can vary in length of time from 10 to 25 years, depending upon the plan you choose. Please go to the Federal Student Aid website to review your options. For information on whether or not you may qualify for the new Income Based Repayment (IBR) or the Public Service Loan Forgiveness, please click here. Remember that extending your repayment plan or decreasing your payment amounts usually increases the amount of interest you pay over time.