Government Loans - General Information
Westminster is approved to participate in the Federal Direct Student Loan Program (FDSLP), part of the Title IV program, in adminstering:
Loans are available to students whose enrollment status is at least half-time and who have completed a minimum of three years of full-time undergraduate or graduate study prior to or while attending Westminster. The enrollment status of the Westminster D.Min. program is considered less than half-time. Students enrolled in this program are not eligible to apply for government loans or have previous loans deferred. ("Special" and Certificate students are also ineligible to receive government loans to fund their seminary education.)
DISCLOSURE NOTE: Government loans taken out by students attending Westminster, will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system.
For more detailed information about the government loan program at Westminster please see the 2016-17 catalog. Students ineligible for government loans may qualify to apply for private (bank) educational loans.
The Seminary is also approved to participate in the Canada Student Loans Program. This program provides federally insured loans to students via private banks and is administered by the various Canadian provinces.
Paying 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, originated by Westminster, 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.
Standard Disbursement Dates
Note: Loans which are originated late in the semester/session are disbursed on alternative disbursement dates.
Loan Refund Checks
Loans must be approved, disbursed and processed before a check of excess funds will be issued to a student. Students will be notified by the Finance Office (about a week after loan disbursal) when their check is ready for pick up.