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Financial Aid

Frequently Asked Questions

Welcome to our Financial Aid FAQ page, which has been updated as of February, 2012. We hope this question-and-answer format helps you understand our financial aid program here at Concordia Theological Seminary (CTS). 

Regular CTS grant-in-aid money is available only to students enrolled in recognized programs leading to ordination as a pastor (M.Div. and A.R.) and to certification as a deaconess (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 beyond those required to complete one's program requirements.

Students in programs such as D.Min., M.A., Ph.D. and S.T.M. should consult with the dean of their program to find out about grants, scholarships or graduate assistantships that may be available. D.Min., M.A., Ph.D. and S.T.M. students, who are enrolled at least half time status, are eligible to borrow through the William D. Ford Federal Direct Loan Program (Direct Loans) and to participate in the Federal Work Study Program, based upon financial need. Specific Ministry Program (SMP) students are not eligible for CTS grant-in-aid or Federal Student Loans.

 

1. How much does it cost to attend Concordia Theological Seminary?

Please refer to the Cost of Attendance page for the answer to this question.

 

2. How do I apply for financial aid?

Step 1 Complete and transmit to us your CTS Financial Aid application electronically by clicking here. To receive a Direct Loan for summer Greek, or other courses offered during the summer 2012 sessions, you need to submit the CTS Financial Aid application and FAFSA for 2011-12. If you take classes during the academic year that begins with the fall of 2012, you must submit a CTS Financial Aid application and FAFSA for 2012-13.

Step 2 – File the Free Application for Federal Student Aid (FAFSA) for the appropriate year.You should file your federal tax return before completing your FAFSA. The 2012-13 FAFSA on the web will include an option to use the new IRS Data Retrieval Tool. We STRONGLY encourage you to utilize this option when you complete your 2012-13 FAFSA online. Doing so will ensure the accuracy of your tax data, which will result in a more accurate financial aid award. Remember, you cannot use the IRS Data Retrieval Tool until after your taxes have been submitted. See note below for more details. You can download the FAFSA Worksheet to organize your material before you begin the online FAFSA. Our Federal School Code is G20876.

Please note: The Department of Education is likely to flag your FAFSA for verification if you do not use the IRS Data Retrieval Tool or if you file your FAFSA before you file your taxes. The new verification rules will require you to request a copy of your tax transcript from the IRS and provide it to CTS before any Federal Student Aid (loans and work study) can be disbursed. According to the IRS, electronic data will be available for retrieval from the IRS site beginning February 1, 2012. Allow one or two weeks after an electronic return has been filed, or four to six weeks after a paper tax return is filed. Click here for more information.

[Steps 3 and 4 apply only to those in the residential (on-campus) M.Div., A.R. or M.A.-Deac. programs who qualify for LCMS District and congregational aid]

Step 3 – Apply to your LCMS district using the "District Financial Aid Application" (available in PDF), type in your information on Section I, print the form, 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 in order to have time to forward your application to your district office before the deadline.

If you are a new student, please be aware that the seminary and your district cannot process your District Financial Aid application until you have been granted admission and have submitted your FAFSA and CTS Financial Aid application. If you are a returning student, please note that your financial aid deadline is May 1 (or two weeks before your district deadline – whichever comes first).

Step 4 – Ask your pastor and the leaders of your home congregation to support your seminary studies. We will also write on your behalf, asking your home congregation to consider supporting you with gifts totaling $3,900 for the 2012-13year ($1,300 per quarter). 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 shortly before the beginning of each academic quarter to the CTS Financial Aid Office with a check payable to “Concordia Theological Seminary” and include the student remittance coupon.

Application Deadlines – If you are a returning student, you must submit your CTS Financial Aid application and FAFSA by May 1. This deadline does not apply to you if you are a new student. However, you will miss out on many other scholarship opportunities if you wait too long. Many scholarships have early deadlines. Please see the Outside Scholarship Opportunities webpage.

Whether you are new or returning, you must submit your district application form to the CTS Financial Aid Office at least two weeks before your district deadline. Remember that you must submit your FAFSA and CTS Financial Aid application before we can complete the financial aid section of your district form and send it to your district.

If you are applying for admission as a new student, you are welcome to submit your financial aid forms before your application has been accepted. They will be processed as soon as the CTS Admission Committee has officially accepted you.

 

3. What is CTS grant-in-aid and how is it calculated?

Regular CTS grant-in-aid is 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 the actual tuition charges for each quarter.  The maximum CTS grant-in-aid for 2012-13 will be 50% of your actual tuition.

Your grant-in-aid is calculated by dividing your Expected Family Contribution [EFC] by your Cost of Attendance [COA]. For example, if your EFC is $2,700 and your COA is $42,897, the result is 6.3%. The figure is between zero and 25%, so you receive the maximum grant in aid, which is 50% of your actual tuition charges each quarter. Room, board, fees and books are not included—only tuition. Use the calculator provided here to see what percentage of your actual tuition will be covered by CTS grant-in-aid.

Your EFC is also used to calculate your Direct Loan eligibility. For a free estimate of your EFC, visit the College Board EFC Calculator . Use Federal Methodology (FM) for best results. In order to award you CTS grant-in-aid, we must use your EFC based on a valid FAFSA.

Most of our eligible students (over 80%) qualify for the maximum tuition grant-in-aid percentage. All other gift aid—home church, district, outside scholarships and student adoption—is added to your grant-in-aid. We urge you to apply for as many scholarships as you can. See the Outside Scholarship Resources webpage (question #8 below) for possible scholarship opportunities.

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 in 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; otherwise you will be charged a late payment fee.  Your student bill must be paid each quarter in order to be registered for the next academic quarter.   Please read the Student Bill Payment Policy for more information.

 

5. How do I apply for student loans?

After you file your FAFSA and complete your CTS Financial Aid application online, you will receive an Award letter that will include a Direct 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 (MPN) and Entrance Counseling (if you are a first time borrower at CTS). Before you can receive a Federal Student Loan, you must have a valid MPN on file with the U.S. Department of Education. Your official loan application is your completed and signed Direct Loan Award sheet.

Loan applications for 2012-13 can be submitted up until the end of your last period of enrollment for the 2012-13 award year. Loan processing for the 2012-13 award year will begin on July 1, 2012. If you don't immediately need a student loan, please retain your Award sheet to use if you need to borrow later.

 

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.  Please contact the CTS Financial Aid Office to apply for a short-term emergency loan.

 

7. Is financial aid available for summer classes?

If you receive financial aid during the regular academic year, you will also receive CTS grant-in-aid for your summer classes (with the exception of Summer Greek). No additional application is required if you already submitted your forms for the regular academic year. 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 2012 Summer Greek is $315 per credit hour; tuition for pre-seminary courses, beginning in the fall of 2012 will be $330 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 of 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 several community service off-campus 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, Food & Clothing Co-op, 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 supplemental financial support to your regular financial aid and, in addition, gives you the opportunity to "meet new friends" through your thank-you notes, e-mails, or telephone calls with your donors. 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. You must register for the Student Adoption Program each year that you participate.

 

11. How does the Food and Clothing Co-op work?

These significant in-kind resources are separate from 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 any Federal Student Loans will be returned for that quarter. If you withdraw from the seminary during the middle of the quarter, both your seminary grant money and Federal Student Loans 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 or visit www.studentloans.gov. Remember that extending your repayment plan or decreasing your payment amounts usually increases the amount of interest you pay over time.

14. What about Professional Judgment for exceptional circumstances?

The CTS Director of Financial Aid may, on a case-by-case basis, make adjustments to a student’s Cost of Attendance based upon the student’s actual expenses when they exceed the regular budgeted amounts. Students must provide documentation to the Director of Financial Aid showing the need to make adjustments to the categories listed for their program’s published Cost of Attendance. Contact the Financial Aid Office if you have questions.