Financial Assistance for Seminary Students
Many seminary students receive financial assistance. We are fortunate to have a community
of supporters who believe in the impact of an EMS education and who have given generously
to offer financial aid and scholarships to help degree-seeking students. EMS has scholarships
that can cover up to 100% off the cost of tuition.
A financial aid guide is provided to students at the time they receive admission to
EMS. You will be notified of your scholarship award at the time of your admission
offer. This guide will help you navigate your options, and the processes associated
with securing the financial support you need.
Grants and Scholarships
Grants and scholarships are contingent on availability of funds and qualified students.
Generous scholarships of up to 100% of tuition are awarded on the basis of academic
excellence, ministry service and leadership potential, and financial need. Scholarships
are extended to qualified students who are enrolled in a degree program at least part-time,
taking 5 or more credits each during fall and spring semesters. Financial aid packages
may include scholarship and/or grant awards from the seminary.
Student Employment
Eligibility for Federal Work-Study is based on financial need and receipt of other aid. Students may earn up to $800 per semester. Application forms may be requested from the Financial Assistance Office.
Federal Direct Student Loans
As of July 1, 2012 all Federal Direct Loans for graduate students will be unsubsidized. The student is charged interest from the time the loan is disbursed until it is paid in full. If the student allows interest to accumulate, it will be capitalized which means added to the principal amount of the loan and increases the amount of loan the student will need to repay.
Students may borrow up to $20,500 per academic year.
The interest rate for Direct Student Loans for graduate students borrowed after July 1, 2009 is fixed at 6.8%. Processing fees of up to 1% are automatically deducted from each disbursement of the loan. Repayment of the full amount borrowed begins six months after a student ceases to be enrolled at least half-time.
Federal Graduate PLUS Loans
The Graduate PLUS Loan is a second loan program for graduate students. Borrowers must be credit worthy. Eligibility is determined after the subsidized and unsubsidized Federal Direct Loans have been awarded. However, a student may decline the Direct Loan awards and borrow only the Graduate PLUSLoan. The interest rate is 7.9% (fixed) and repayment begins 60 days after the final disbursement. In school deferment is an option for half-time or more enrollment status, but interest payments are required. A loan origination fee of 4% is automatically deducted from each disbursement.
