PTS Catalogue - Princeton Theological Seminary

Financing Your Seminary Education
The purpose of the Princeton Theological Seminary Program for Student Financial
Aid is to assist students in the educational preparation for ministry. We do this by
providing fellowships, need-based grants, work opportunities, and loans to our eligible
students. A more detailed breakdown of this eligibility by degree program is
listed below. Students in every degree program qualify for:
Tuition Installment Plan (TIP)
Students who wish to pay all or any portion of their tuition and other charges
on an installment basis may take advantage of this plan made available through
Campus Partners. Master’s-degree students may pay tuition, room, board, fees,
or Seminary rent in nine monthly installments starting July 15 for a modest fee of
$60 for each enrollment period (academic year). Plan brochures, which include
an application, may be obtained from the Bursar’s Office.
Federal Aid
The Seminary participates in three federal financial aid programs outlined below:
the Federal Direct Loan, the Federal Perkins Loan, and Federal Work Study. These
Title IV federal aid programs can be used to meet matriculated students’ unmet
financial need for the academic terms in which they are enrolled. International
students do not qualify for federal aid. For more information about federal aid
opportunities and the application process, please contact the Office of Admissions
and Financial Aid.
Federal Direct Loan
This unsubsidized federal loan can provide up to $20,500 in loan assistance each
academic year. Matriculated PTS students enrolled at least halftime may apply for
this loan. Federal Direct Loans are made by the U.S. Department of Education and
are processed through the Office of Admissions and Financial Aid. The interest
rate for Federal Direct Loan borrowers is currently fixed at 6.8%. Students must
pay a small origination fee to process a Federal Direct Loan. Interest accrues, but
repayment is not required while the student is enrolled in a program of study on at
least a half-time basis. There is also a six-month grace period following the student
borrower’s last date of at least half-time attendance, during which time, interest
accrues. Repayment then begins on a monthly basis.
Federal Perkins Loan
This loan is a need-based federally funded student loan. PTS students who are
enrolled in a degree program and demonstrate a high degree of need may be
considered for this campus-based federal loan. In this program, the federal government
has provided the Seminary with the funds to lend to its neediest students.
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