Frequently Asked Questions

What type of financial aid is available?
How many credits do I have to take?
Do I have to apply for financial aid every year?
When should I apply for financial aid?
What if I file an extension with the IRS?
If I am awarded aid and then I defer my enrollment until Term II, will the Seminary hold my aid for me?
Is there a maximum amount of aid that I can receive in an academic year?
How does financial aid affect my bill?
What happens if I lost my Award Letter?
What happens if a student resigns during the term?
What are some reasons that will disqualify me for PTS need-based grants?
Are there exceptions to the full-time status requirement for need-based aid?
Can I receive financial aid for summer enrollment or CPE?
How often are the PTS Financial Aid Policies Reviewed?
When I receive aid, what is my student obligation?

What type of financial aid is available?
Depending on your program and enrollment, you may qualify for Merit Scholarships, Tuition Grant, Housing Grant, Work-Support opportunity and/or federal student loans.

How many credits do I have to take?
A student must be enrolled full time to be considered for all scholarships, grants, and work-support. Master's degree students can qualify for federal loans by maintaining a half-time enrollment status.

Do I have to apply for need-based financial aid and loans every year?
Yes, the Seminary’s Financial Aid program is based on a nine-month academic period. You must file a FAFSA, PTS application, W2s, and other documentation to be evaluated each year. Additional forms are required for the Federal Direct Unsubsidized Loan and Federal Graduate Pus Loans.

When should I apply for need-based financial aid?
Need-based aid (tuition grants, housing grants, work-support) processing begins Feb. 22, 2013 and continues until the funds have been exhausted. Incomplete packets are not processed. It is recommended that students file no later than April 1 although it is not guaranteed that aid will still be available. A student MUST re-apply each year. Need based aid is not guaranteed unless a student continues to qualify financially and files in a timely manner as complete packets are processed on a "first come - first serve" basis.

What if I file an extension with the IRS?
A student, who is applying for the PTS need-based aid and files an IRS extension, is required to submit additional documentation to the Financial Aid Office. That documentaion must include copies of the IRS Form 4868 and the IRS confirmation of receipt. Policy regarding the required documentaion remains the same; e.g. PTS Financial Aid Application, W2s. The student's aid will be processed with estimated numbers. The student must submit an actual Tax Transcript or complete the IRS Data Retrival on the FAFSA by June 1. If all of the necessary application pieces are not submitted by June 1,  the application will be placed at the bottom of the Wait List until all documentation is received.

If I am awarded aid and then I defer my enrollment until Term II, will the Seminary hold my aid for me?
No, aid is awarded for students beginning in Term I. If a student defers until a later date, the aid will be awarded to the next name on the Wait List. If a student plans to begin in Term II or III, he/she should contact the Financial Aid Office to inquire about any available funds.

Is there a maximum amount of aid that I can receive in an academic year?
You are required to report all aid that you receive to the Financial Aid Office. Because of federal regulation, if you have a loan your total aid cannot exceed your Cost of Attendance. If this occurs, the Financial Aid Office is obligated to reduce or cancel awards. Loans are always returned first. If a student's scholarships and grants exceed the Cost of Attendance, PTS reserves the right to reassign our tuition grants.

How does financial aid affect my bill?
If your paperwork is complete and your aid is approved, it will appear on your bill. Aid is not disbursed to your account until after the Add-Drop period. Contact the Financial Aid Department if you are expecting Seminary or federal aid that does not appear on your account. If your federal loan proceeds create a credit balance, the Student Account Office will issue you a refund check.

What happens if I lost my Award Letter?
Your Award Letter is your contract for PTS need-based financial aid. Your signature affirms that you are familiar with the financial aid policies. No aid will be credited to a student's account until the contract is signed and returned to the Financial Aid Office. If no signed contract is received, the Financial Aid Office will re-assign your grant to the next student on the Wait List.

What happens if a student resigns during the term?
If you resign during the term, you must contact the Financial Office. You may be entitled to a partial reduction of Seminary charges but your eligibility for aid may change based on your enrollment status. If a student withdraws from a class, need-based grants will be revoked for that class. Financial aid for the academic year will be forfeited if a student drops below full-time enrollment. 

What are some reasons that will disqualify me for PTS need-based grants?

1. You will not qualify for PTS need-based aid if you are enrolled less than full time. Need-based aid is not available for less than full-time enrollment.
2. You will not demonstrate “need” if your Expected Family Contribution (EFC), adjusted gross income, income, or liquid assets are higher than the Cost of Attendance.
3. You must maintain Satisfactory Academic Progress.
4. Students who are in “default” of their federal educational loans are ineligible for institutional aid.
5. PTS does not award aid beyond the specified length of the program chosen. Financial aid will not be provided to any student beyond the minimum credits required for graduation. Should you fail or withdraw with faculty approval from a course(s), there is no aid when the class is repeated.
6. If you received financial aid to complete one degree program, you are not eligible for financial aid for a second-degree program until three years (nine terms) have passed.
7. If you misrepresented your financial circumstances on your application, you forfeit consideration for all future aid.  

Are there exceptions to the full-time status requirement for need-based aid?
PTS, very generously, makes two exceptions to the full-time status requirement for need-based aid. One exception is the graduating senior whose enrollment for the final term is part time. Tuition grants are awarded only if the preceding term had been full-time enrollment. Second, a student enrolled full time in a joint degree program but only in attendance at the Seminary part time. For both exceptions, the students will qualify for PTS tuition and work-support funding only.

Can I receive financial aid for summer enrollment or CPE?
Students who qualify for tuition grants for the following academic year will have the summer PTS tuition covered by the Fall grants. Clinical Pastoral Education Credits (CPE) are NOT covered by PTS grants. There are no loans available during the summer.

How often are the PTS Financial Aid Policies Reviewed?
The Financial Aid Policies are subject to change. They are operative for the current academic year and represent no commitment beyond the current year, The Financial Aid Policy Committee, which includes students, conducts an annual review, Updates will be posted to the website.

When I receive aid, what is my student obligation?
Financial aid funds depend on the generous contributions from individuals, churches, and organizations. At the time the student receives a tuition grant contract, he/she is asked to write a letter of thanks. Students are expected to write these letters as a condition for receiving financial aid and must be received by the Financial Aid Office before aid is credited to the account. Guidelines for such letters are provided in the Financial Aid Office.