Federal Direct Stafford Loans (Title IV)
Trinity's Eligible Degree Programs for Federal Direct Stafford Loans
- Master of Arts (Religion) (MAR)
- Master of Arts in Mission (MAM)
- Master of Divinity (MDiv)
- Master of Sacred Theology (STM)
- Doctor of Ministry (DMin)
Students in any of the diploma programs are not eligible to receive Federal student loan funding.
Direct Unsubsidized Stafford Loan Program
The Federal Direct Stafford Load Program is available to any student in a Degree Seeking Program enrolled with at least 6 credits (half-time) per semester. The student must be a U.S. citizen or an eligible non-citizen. The current annual fixed interest rate is 6.8%.
Trinity cautions students about excessive reliance on loans which must be repaid starting shortly after graduation at a time when other financial obligations and low starting salaries limit one’s resources. Loans should be considered after other sources of aid have been explored. Students are ultimately responsible for these decisions.
Graduate students may borrow up to a lifetime amount of $138,500 from the Federal Direct Stafford Loan program (which includes proceeds from any undergraduate loan program).Trinity's desire is for students to graduate with a minimal amount of indebtedness so that loan repayments do not unduly burden their future ministries.
The Budget Control Act of 2011 made significant changes to the federal student loan program. Congress voted to eliminate the federal student loan subsidies for graduate students. This means that beginning in 2012-2013, graduate students will only be eligible for unsubsidized federal student loans. An unsubsidized student loan begins to accrue interest from the date of disbursement. You should keep this in mind when making your financial aid decisions for the 2012-2013 academic year and beyond.
Unsubsidized Direct Stafford Loan
- Fixed interest rate of 6.8%.
- Maximum Base amount is $20,500.
- Origination fees deducted before the loan is disbursed into the student's account.
- Entrance interview required for all first time borrowers.
- Funds are sent directly to the school.
- Students are responsible for interest payments while in school.
How to apply:
- Carefully read the Federal Loan Policies and Guidelines.
- File the FAFSA (Free Application for Federal Student Aid)
Complete a FAFSA online at www.fafsa.ed.gov.
Trinity's Federal School Code: G22993
- Complete online Entrance Counseling
All first-time borrowers are required to complete entrance counseling at www.studentloans.gov.
- Complete and sign a Direct Loan MPN (Master Promissory Note)
Visit www.studentloans.gov to complete and sign the MPN. Note: Click on the unsubsidized link not Graduate PLUS loan link.
- Submit the Trinity Direct Loan Request Form to the Director of Financial Aid.
Please contact the Director of Financial Aid to obtain the Direct Loan Request Form.
Graduate PLUS Loans
The Graduate PLUS Loan, which is part of Direct Loan Program, is also available to Trinity students. However, due to Trinity's relatively low cost of attendance, students may not have the need for Graduate PLUS loan funding. For information about applying for a Graduate PLUS Loan please contact the Financial Aid Director.
Cost of Attendance
The Cost of Attendance (COA) is the expected dollar amount that a student needs to attend Trinity School for Ministry for the nine month academic year. Actual living expenses could vary based on the student’s standard of attendance, spending habits, and values.
There are certain categories for which the regulations allow an increase to this budget for an individual student in determining need, which include (but are not limited to):
- Disability related expenses
- Certain childcare costs
- Computer purchase (may only be used once)
- Students applying for federal aid who believe they have allowable expenses, which could be used to increase their budgets, should document these expenses and request an appointment with the Director of Financial Aid.
When a student completes his or her program studies, drops enrollment below 6 credits per semester, or fails to re-enroll; an exit interview email will be sent. Exit interviews are conducted through the National Student Loan Data System (NSLDS) Student Access website at www.nslds.ed.gov.
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