Union-PSCE has a generous financial aid program that includes need-based grants, merit fellowships, promise for parish ministry aid, prizes, and loans. While Union-PSCE 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. Your need for financial aid will not affect admission to the school.
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 if they apply by the deadline which is the last Friday in May.
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. Applications received after 5 p.m. on the last Friday in May will not be considered.
Need-based grant recipients must re-apply and re-qualify each year.
Prospective students may submit the financial aid application between March 1 and the last Friday in May. The application is available on the seminary website after March 1. For best consideration, applicants should be admitted and apply for aid by April 15.
Returning students are provided aid applications in mid-April. For best considerations returning students should apply by mid-May. Applications may be accepted on a funds available basis up to 5 p.m. on the last Friday in May.
The Richmond Campus 2009-2010 need-based financial aid application period has closed and all available funds have been committed. The 2010-2011 financial application period will begin after March 15, 2010. Prospective Richmond Campus basic degree students interested in applying for need-based grants are urged to check this web site after mid-March, 2010.
Need-based Grant Amounts
Denominational affiliation, degree program, and status may affect the level of tuition support.
Students who are members of the Presbyterian Church (U.S.A.) are possibly 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 best consideration for any merit award, the application for admission must be complete by March 15.
Merit awards and fellowships are disbursed in September and February.
Promise for Parish Ministry Aid
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. In the third and again in the fourth year of the program, doctoral students will be considered for appointments as either teaching or research fellows, provided they are in good academic standing and have completed the modern language requirement and (for teaching fellows) the teaching seminar. 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 for prizes that require an essay and certain faculty fellowships that require a formal application.
Other Sources of Funding:
Presbyterian Church (U.S.A.) Grants
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. 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.
The Fund for Theological Education
Information on grants from outside sources can be found at the
Fund for Theological Education website.
Start your search early — most scholarships have application deadlines in March, April, and May.
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.
Students apply at the appropriate time at http://www.fafsa.ed.gov/ where they complete the Free Application for Federal Student Aid (FAFSA). Students should make sure that they complete the FAFSA that relates to the academic year for which they 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.
The seminary is required to process for eligible students the loan documents from any eligible lender that the student selects. Contact the Financial Aid Office for additional information on the Federal Stafford Loan Program.
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.
