Financial Assistance for Seminary Programs

Church Grants

Students who receive student aid grants from home congregations are eligible for matching grants. The matching amount is dollar for dollar for the first $1000 and one to every four dollars over $1000. Eligibility for the church matching grant requires admission to the seminary and enrollment of at least 3 credits (standard tuition) in the semester the grant is desired. Payments for tuition or living expenses are not eligible for church matching grant funds.

Need-Based Grants/Endowed Scholarships (Full-time students only)

Availability on need-based grants contingent on funding and awarding rationale. Awarding of need-based aid for international students is at the discretion of the Director of Admissions after full disclosure of the student's financial sponsorship is reviewed.

Mennonite Student Grants (Full-time students only)

Availability of grants contingent on funding and awarding rationale.

Student Employment

Eligibility for Federal Work-Study is based on financial need and receipt of other aid. Students may earn up to $900 per semester. Application forms may be requested from the Financial Assistance Office.

Federal Stafford Loans

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 (Private) Loans

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.