General Information

What is Financial Aid

Financial Aid is any source of funds available to help students absorb the costs of a higher education at the undergraduate and graduate levels. If you feel that you will need assistance, you are encouraged to apply for a PIN, and then complete the FAFSA (Free Application for Federal Student Aid). Your FAFSA application must be renewed annually.

If you feel that you will need to apply for loans, please visit the U. S. Department of Education's Direct Loan website for further information. You must already have your PIN to access the Direct Loan features of the site. You should complete the Master Promissory Note (MPN), and Entrance Counseling Session prior to scheduling an appointment with the Financial Aid Office. Once completed, your MPN and entrance counseling are valid for ten (10) years.

There are four main types of financial aid. New Life Theological Seminary students are offered a combination of aid (known as a financial aid award) from the following programs:

• Grants
• Loans
• Scholarships
• Federal Work-Study

Who is Eligible for Aid

To be eligible to receive financial aid assistance, the applicant must:

• be admitted and currently enrolled at least half time (full-time for most scholarships) as an undergraduate or graduate student;
• be enrolled in a degree or certificate seeking program at New Life Theological Seminary;
  
• be a US citizen, permanent resident or eligible non-citizen;
• currently maintaining Satisfactory Academic Progress (SAP) toward the completion of his or her academic program
• not be in default on any prior student loans; 
• not be over lifetime maximum limits in any Title IV financial aid category (Pell Grant, subsidized loans, or unsubsidized loans);
  
• not owing a repayment on any Title IV financial aid;
• complete the Free Application for Federal Student Aid (FAFSA). The priority filing date is March 1.
• not have been convicted of possessing or selling illegal drugs.

How to Obtain Additional Information

New Life Theological Seminary Financial Aid Handbook

Forms


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