The Unification Theological Seminary is committed to helping eligible students meet their financial needs. Through scholarships and grants, the Seminary seeks to alleviate the financial burden of both domestic and international students. However, funding for these programs is limited, and they provide only partial coverage of the expenses incurred at UTS. Students are therefore encouraged to seek other sources of funding first.
Some local and national churches have set up generous scholarship programs that completely fund students’ seminary education.
Deadlines for completed financial aid applications are:
Fall Term: August 5, 2015
Spring Term: January 6, 2016
Forms and information are available through the Admissions Office.
UTS does receive scholarship monies from individual donors and organizations from year-to-year. Students are encouraged to stay in communication with the Financial Aid Officer for updated information.
Financing a college education is a challenge for many families. Recognizing the cost of an education, students should consider the total cost of their education and not just the costs of the initial year. Besides the usual sources—family assistance, personal savings, and summer earnings—there exists a variety of ways to pay college costs. These are generally referred to as student financial aid. They consist of scholarships, grants, loans, and earnings from part-time work while in school.
If students are in need of financial assistance they should file the Free Application for Federal Student Aid (FAFSA). Please note that the Free Application for Federal Student Aid (FAFSA) cannot be filed before January 1st.
Partial Tuition Scholarships
Different partial tuition scholarships are available to qualified applicants. Scholarships are reviewed annually.
Federal Aid and Loan Programs
Federal Student Financial Aid Program (Title IV)
Under the Title IV Program, UTS graduate students who are U.S. citizens or permanent residents are eligible to apply for Federal Stafford Loans (unsubsidized). To qualify for these loans, the student must have documented financial needs as evidenced by completion of the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov. More information is available through the Financial Aid Office.
The William D. Ford Federal Direct Loan Program
Federal Direct Loan Program
The unsubsidized Federal Direct Loan is for those students who do not qualify for the subsidized Federal Direct Student Loan program. The terms and conditions of the unsubsidized loan are identical to those for the subsidized loan with the following exceptions:
Whereas the subsidized loan is interest-free during the student’s period of enrollment (minimum half-time), the unsubsidized loan is not. The student must select one of the following two options: to begin making interest payments on the loan immediately or to allow the DOE to capitalize the interest due, resulting in a larger loan repayment.
The Federal Direct Loan program assists students who are enrolled at least half-time (six credit hours per term) in borrowing directly from the U.S. Department of Education. The loans are insured by the federal government. The benefits of the Subsidized Loan are: the borrower is not liable to make repayment on the loan while enrolled in college on at least a half-time basis; the loan is interest-free during the same period of time.
1. A FAFSA must be filed so that the Seminary can determine the student’s eligibility. The school will certify the student’s enrollment, the college costs, the financial aid available to the student, and the allowable loan amount. Students must also complete a Federal Direct Loan Master Promissory Note. Upon approval of the loan, proceeds are normally electronically transferred to the institution.
2. The amount the student may borrow is also limited by the student’s enrollment status, college costs, financial aid available to meet these costs, and the satisfactory academic performance of the student. The student must be matriculated and must maintain the cumulative grade-point average and credit accumulation standards established by UTS. (Refer to Satisfactory Academic Progress Requirements for more details.)
3. The school cooperates with the lending institutions and agencies in verifying and maintaining current information on all its student-borrowers.
4. A student may be required to pay a loan default and/or origination fee of up to one percent.
5. A Master Promissory Note must be signed by the student prior to the disbursement of the loan.
6. After loan proceeds are credited to the student’s account, any credit balance will be refunded within 14 days. If the student chooses to leave the credit balance on the account, the student must notify the school in writing.
7. For loans issued to students on or after July 1, 2014 and before July 1, 2015, the interest rate is fixed; subsidized Federal Direct Loan = 4.66%.
8. A student must not be in default, or owe an overpayment on an FSA grant or loan.
9. If verification is required, a student may be requested to submit a signed copy of his/her most recent tax return and a signed copy of his/her parent’s most recent tax return, and the completed verification worksheet.
Requirements to Maintain Federal Eligibility
HEA Section 484(c), 34 CFR 668.16(e), 34 CFR 668.32(f), and 34 CFR 668.34 requires schools to define and enforce standards of Satisfactory Academic Progress. Students receiving federal financial aid must conform to these requirements in order to be eligible for this financial assistance. These Satisfactory Academic Progress requirements must provide a maximum time frame for completion of the degree, a graduated credit accumulation over this time, as well as a quality mechanism. Essentially, these minimum standards require students to demonstrate that they are actively pursuing their degree.
Military Service Activation
Students called to active duty that results in withdrawal from all classes will be granted probation upon submission of documents verifying activation. Students must meet the Financial Aid Standards of Progress at the time of military activation to be granted automatic probation.
The Appeal Process for Students Who Have Failed to Meet Satisfactory Academic Progress
Students will be notified by the Office of Financial Aid that they have lost their financial aid eligibility.
Students initiate the process by requesting a one-time appeal. Such requests should be forwarded to the Director for Financial Aid within two weeks of aid loss notification.
Possible reasons for appeal: serious personal problems, family tragedy, illness, employment and/or difficult adjustment to school, and other unusual circumstances that could reasonably contribute to a lack of academic progress. Appeals should include supporting documentation.
A committee comprised of the Director for Financial Aid, the Registrar, and others as needed will review the appeal request.
Please note, only one appeal will be granted, whether based on qualitative and/or quantitative standards. Students who are not granted an appeal, or those who have already used the appeal, but do not have a cumulative GPA of 2.00 or meet quantitative standards, will regain eligibility once the cumulative GPA and quantitative standards are met.