Student Loans
Westminster is approved to participate in the Federal Direct Student Loan Program (FDSLP) (part of the Title IV loan program) in administering:

1. Direct Subsidized Loans
2. Direct Un-subsidized Loans
3. Graduate PLUS Loans

Loans are available to students whose enrollment status is at least half-time.  The enrollment status of the Westminster DMin program is considered less than half-time.  Students enrolled in this program are not eligible to apply for loans, or have previous loans deferred.

Paying for your tuition and fees with a Direct Loan
If you plan to pay for your tuition and fees with a Direct or Graduate PLUS Loan, your loan must be fully approved by the Department of Education before your enrollment date (first day of classes).  Under normal circumstances, the loan process can take a minimum of four (4) weeks after receiving all application materials for your loan to be fully approved. Therefore, to insure that you will be able to pay for tuition and fees using your loan, you must submit all loan application by the following deadlines:

 * This deadline is flexable.

**YOU ARE RESPONSIBLE FOR PAYING FOR YOUR TUITION AND FEES WHEN PAYMENT IS DUE REGARDLESS OF THE STATUS OF YOUR LOAN*

If your loan is pending (not yet fully approved) when tuition payment is due:

• Students taking 7 credit hours or more: you will be required to pay 50% of tuition and fee costs.
• Students taking 6 credit hours or less: you will be required to pay 100% of tuition and fee costs.
• Full-time students: you will not be eligible to receive the tuition discount for full-time students paying their tuition costs in full.
• All students: you must wait until your loan is approved and loan funds have been processed before you can receive a refund of your payments.

Recommended Loan Limits
Current and prospective students considering loans to finance their Westminster education are advised not to exceed a total student loan (combined undergraduate and graduate) indebtedness in excess $26,000 for an MDiv degree and $20,000 for other Master’s degrees.  Students requesting loans which will result in them exceeding a total loan debt level of $26,000 for an MDiv or $20,000 for other Masters or ThM degrees will be required to meet with the Financial Aid Officer for debt counseling.

How Much of a Loan can I Afford?
It is important to investigate and exhaust all other ways to fund your seminary education before taking out a loan, since you are obligated to repay a loan.   If a Federal Direct Student Loan is the only option permitting you to attend seminary, the implications of loan repayment and total indebtedness must be considered. To do so please see How Much of Loan Can I Afford?

Loan Application Materials to Submit
For loan application materials to submit, please click here.

The Loan Application Process
Follow the step-by-step instructions to Applying For a Government Loan.

Bank Loans
In addition to Direct Loans, you may choose to take a loan from a private lender.  Students who are ineligible for goverment loans may chose a private loan.  While not an official recommendation, the Financial Aid Coordinator may provide a list of lenders with which Westminster has worked in the past to provide private loans.

More Information and Helps

• Review your loan information and history online via the National Student Loan Data System (NSLDS) website
• Access to Entrance Counseling (via studentloans.gov) 
• Access to Exit Counseling (via NSLDS)
• Access to In-School Deferment Request forms for full-time and half-time students
• Review the online booklet Your Federal Student Loans: Learn the Basics and Manage Your Debt to find out about the difference between private and government student loans, how much to borrow, how to manage your debt and repaying loans successfully, and the consequences of default
• Access http://www.youcandealwithit.com/ for information about loan repayment, money, and credit card debt.
• Government Loan Repayment Information
• Contact the Financial Aid Office Staff