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.
Forms and information are available through the Admissions Office.
Types of Financial Aid
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.
Loans and scholarships are available at UTS. Most of these forms of financial aid are based on need and are determined by the FAFSA. The amount of the aid offered is determined by calculations from the Department of Education. Scholarship monies are awarded by the graduate Financial Aid Committee.
Please keep in mind:
- All Federal financial aid rules and regulations are set out by the Department of Education. These are federal laws and regulations that the UTS Office of Financial Aid is required to follow.
- UTS does not discriminate on the basis of race, color, national origin, religion, age, or disability.
Different partial tuition scholarships are available to qualified applicants. Scholarships are reviewed annually.
Ecumenical Scholarship: This scholarship offers a 25% discount of tuition costs for students enrolled in any Master’s Program.
President’s Scholarship: This special scholarship is for students who cannot access federal financial aid.
Federal Direct Loan Program
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.
Stafford Direct Loans - Unsubsidized Loans
Graduate students in the UTS programs can apply for the unsubsidized Federal Direct Student Loan program. These loans have a set low interest rate of 3.76%, they do begin to accrue interest from the day they are released from the lender. 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
To receive federal aid administered through the UTS Office of Financial Aid, you must:
1. Be admitted to a degree seeking program at UTS.
2. Effective July1, 2012, new students who enroll for the first time after July 1, 2012 must have a high school diploma, GED or equivalent to receive federal student aid.
3. Be a citizen, permanent resident of the United States, or other eligible non-citizen.
4. Maintain satisfactory academic progress (SAP) according to SAP policy for financial aid recipients.
5. Be in compliance with Selective Service Registration to receive federal funded student aid.
6. Be enrolled at least half-time for federal and state funded financial aid programs.
7. Resolve any drug conviction issues.
8. Not owe a refund to any federal grant or loan or be in default on any federal loan.
9. Be enrolled in coursework at UTS.
Procedure to Apply for Federal Direct Loans
1. New students: Fill out your FAFSA application at www.fafsa.gov
Returning students: Update your FAFSA record at www.fafsa.gov This must be done each academic year.
2. New students: Login at www.studentloans.gov and click on Entrance Counseling and Complete your Master Promissory Note (MPN). Both are listed on the webpage after signing in.
Returning students: Go to www.studentloans.gov and check to see if your MPN needs to be updated.
3. It takes about a week for the information to be sent to the UTS Financial Aid Office so that a student’s eligibility for a federal loan can be determined, and how much you can receive for the new academic year.
4. Contact the UTS Financial Aid Office for information about an unsubsidized Federal Direct Loan, your eligibility for a loan, and the amount you want to borrow.
5. Manhattan: 212-563-6647 ext. 105 Barrytown: 845-752-3000 ext. 244 Maryland: 240-244-1125 Email: Henry Christopher at email@example.com
6. The Financial Aid Office will then create an Award Letter for you to sign, showing the cost of attendance for the year and the amount of the loan which you want to borrow.
It generally takes about a week for the loan to be processed through the Federal government. The UTS Bursar will credit your account with your loan amount, deduct the UTS costs, and issue you a check for any remaining amount.
Loan Disbursement and Processing Policy
1. FA Solutions Originates and Disburses Funds:
A private company hired by UTS handles all student Federal loans, including originating and disbursing funds from the DOE for each student. The UTS Financial Aid Office together with FA Solutions determines when a student has met all eligibility requirements for the disbursement of financial aid funds.
2. UTS Finance Office Disburses Funds:
All Loan funds will be disbursed via hard copy check by the UTS Finance Office.
It often takes several days or longer for UTS to receive the funds after the certification process begins.
Please note, there is a processing time for all funds that come into UTS. UTS will have your funds on your ledger within 3 days of receiving the funds from the DOE. Students will be notified by the Financial Aid Office when to come to receive their loan.
Satisfactory Academic Progress for Financial Aid
Federal Regulations require all UTS students maintain good progress toward receiving a degree in order to continue to have eligibility for Title IV financial aid programs. All semesters will be counted toward this progress regardless if the student did not receive aid in a prior semester.
According to Federal Regulations there are three main measurements reviewed at the end of each semester. See the UTS Financial Aid Handbook for more detailed information.
Graduate program graduation requires a minimum of a 2.5 cumulative grade point average. To continue studies at UTS, graduate students must maintain a 2.5 cumulative grade point average starting at 12 cumulative credit hours.
Completion Rate: Students must complete at least 67% of all credits attempted. Credits attempted include transfer credits, withdrawals, “F” and “I” grades.
Maximum Time Frame
Students need to complete their degree within a maximum timeframe, including transfer credits and attempted credits. This timeframe is 150% of the degree program requirements. In other words, 75 credits for the M.R.E., 72 credits for the M.A. and 120 credits for the M.Div. degree. For the D.Min degree the timeframe is 6 years.
Students not in compliance with the minimum GPA, maximum timeframe, and/or completion rate requirement will be put on financial aid probation and may lose their financial aid eligibility.
Repercussions for not meeting the requirements:
Students who do not meet the above listed requirements will first be placed on Financial Aid Warning / Probation. Any student who is placed on Financial Aid Warning will still be eligible for aid for 1 semester in an attempt to repair their progress.
After the Warning or Probationary period has ended, if the student still does not meet all 3 requirements, he/she will be placed on Financial Aid Suspension. Students that are placed on Financial Aid Suspension cannot receive any Title IV Federal (or State) Financial Aid until they repair their Satisfactory Academic Progress status by enrolling for classes at their own expense or successfully appealing their probation.
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.