Financial Assistance for Graduate Programs

Virginia Tuition Assistance Grants (VTAG)

Awarded to Virginia residents regardless of financial need. The amount of the award is determined annually by the State Council of Higher Education of Virginia. A VTAG application must be filed by July 31. Students who remain continuously enrolled full-time need not re-apply each year. Students are eligible to receive VTAG grants for up to 4 semesters and must be enrolled a minimum of 9 credit hours per semester.

Church Grants

Students who receive tuition assistance grants that originate from a congregation, a church conference, or a group of churches who have pooled resources for the purpose of providing tuition assistance grants are eligible to receive a matching grant. Enrollment of at least 6 hrs/semester in either the MAC or CJP program is required. The maximum grant eligibility is $1000 per academic year and $2000 during the lifetime of the graduate's studies. March 1 is the "preferred response date" for churches to inform EMU of their intent to send funds for students.

EMU maintains a database of scholarships offered through organizations outside the university community. High school guidance counselors also maintain extensive files of local scholarship opportunities. Students are encouraged to begin the research and application process early in their senior year of high school. A national scholarship database is also available at www.fastweb.com

A Federal Stafford Loan is either subsidized or unsubsidized. Loan funds come from a bank, Savings and Loan, or other approved lender. A subsidized loan is awarded on the basis of financial need. The federal government pays interest on the loan until the student begins repayment and during authorized periods of deferment. An unsubsidized loan is not awarded on the basis of financial need. 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 - that is, the interest will be added to the principal amount of the loan and will increase the amount of loan the student will need to repay. Students may borrow up to:

$8,500 Subsidized Stafford Loan
$12,000 Unsubsidized Stafford Loan

The total debt from all outstanding Stafford Loans are variable and are adjusted each year on July 1, but may not exceed 8.25 percent. A student pays to the lender a "loan origination and guaranty fee" of up to three percent which is automatically deducted from each disbursement of the loan. Repayment of the full amount begins six months after a student ceases to be enrolled at least half-time. See also the Federal Stafford Loan Information page.

Alternative loans are designed to assist students and their families who either are not eligible for federal grant and loan funds, or who need additional educational financing. Loan approval is generally based on creditworthiness and ability to repay. Alternative loans are available to students who are pursuing a degree program at Eastern Mennonite University enrolled at least half-time, and maintaining satisfactory academic progress. As with any loan, careful consideration should be made in determining amounts to be borrowed, as the loan must be repaid. The interest on most alternative loans accrues while the student is in school. However, it can be deferred (in many cases) until after graduation or when the student ceases to be enrolled at least half-time.