Links
Austin Grad Financial Aid Application
Free Application for Federal Student Aid (FAFSA)
financing
Your Austin grad Education
Austin Graduate School of Theology is committed to practicing and encouraging
good stewardship. To foster this, a number of financial aid programs are
available to assist students in minimizing or eliminating the need to
incur debt while working toward their degree. We invite prospective and
continuing students to call or visit our Financial Aid Office to discuss
options and eligibility.
Sources of Funding
| • Personal Funds | • Direct Loans |
| • Austin Grad Scholarships | o Subsidized |
| • Church or Employer Matching | o Unsubsidized |
| • Federal Financial Aid Programs | o PLUS |
| o Pell and SEO Grants | • Master Promissory Note |
| o Stafford Loan Programs | |
| o Work-Study |
| • | Personal Funds - are those from you or your family. Many of our students work in area churches or secular jobs while working toward their degree. If you are relocating to the Austin area to attend, check with our Public Relations Office for potential openings/ internships in local churches. | |||
| • | Austin Grad Scholarships - Through the generosity of supporters, a number of endowments have been established to assist students preparing for service in full-time or lay ministry. Individual funds are described in the school Catalogue. Eligibility is based upon enrollment in a degree program, financial need, academic history, and ministry involvement or potential. Priority is given to full-time students, but part-time students may also be eligible. To apply, students must complete the Austin Grad Financial Aid Application (see link on left). Priority is given to applications received by July 1 for fall semesters and November 15 for spring semesters. | |||
| • | Church or Employer Matching – Students often have supporting churches that pay all or part of their tuition. Austin Grad may match a portion of this support – up to 25% of your full tuition payment. When a matching award is combined with another scholarship award, the total of both may not exceed 25% of tuition. Contact our Financial Aid Office for details. If you plan to work in a secular job while in school, check with your employer for programs that may help fund your education. | |||
| • | Federal Financial Aid Programs - Austin Grad participates in a number of Title IV Federal Student Aid programs. All require the completion of the Free Application for Federal Student Aid (FAFSA - see below). | |||
| o | Federal Pell and Supplemental Equal Opportunity Grants are based on financial need and available to students working toward their first undergraduate degree. | |||
| o | Federal Stafford Loan programs are available to both undergraduate and graduate students. All federal loan programs defer payments while enrolled at least half-time in a degree program. For details on Federal Stafford Loans see 'Direct Loans' below. | |||
| o | Federal Work-Study positions are available to both undergraduate and graduate degree students. Eligibility is based on financial need. Work hours can be adjusted to fit course schedules, however, are usually limited from 3 to 10 hours per week. | |||
| o | FAFSA Priority Deadlines: Students should complete the FAFSA online at least 45 days prior to start of classes. This allows time to determine eligibility and for any award to be applied as payment at registration. Students submitting their FAFSA after this date may be required to make other payment arrangements to register. | |||
| o | Student Eligibility: Students must meet certain eligibility requirements to particpate in Federal Aid programs. These are outlined in the handbook, Financial Aid at Austin Grad: Overview and Policies. The handbook can be obtained through the Financial Aid Office or on this website. | |||
| o | Return of Federal Aid Awards: All students receiving Title IV (Federal) student aid are subject to return a portion of that aid if withdrawing prior to the 60% point of any enrollment period. The amount of funds to be returned, if any, is calculated according to the date of withdrawal and federal guidelines. Federal Work-Study funds already paid are not subject to this policy. | |||
| • | Direct Loans | |
| o | Subsidized loans are awarded according to demonstrated financial need. The federal government pays interest while the borrower is enrolled at least half-time in a degree program and during a six-month grade period. Repayment of the loan begins at the end of the six-month grace period after leaving school or dropping below half-time. | |
| o | Unsubsidized loans are awarded regardless of demonstrated need. Interest begins accruing from the date of disbursement. By making interest payments while in school, capitalization of the interest can be avoided. When interest is capitalized, it is added to the principal amount of the loan upon which further interest charges are based. | |
| o | PLUS loans (Parent Loans for Undergraduate Students) are for parents of dependent students. These can be used to supplement other financial aid awarded to a student, such as the Direct Stafford Loan. Repayment of the Direct PLUS Loan is not deferrable. Parents must begin repayment within 60 days after the entire loan has been disbursed. | |
| • | Master Promissory Note | |
| 1. | Students accepting a loan award through the Direct Loan Program must complete and electronically sign a Master Promissory Note (MPN) with the federal government before any loans will be processed or disbursed (paid) to their account. | |
| 2. | Loan Counseling: All Direct Loan borrowers must complete electronic Entrance and Exit Counseling as a requirement of their loan agreement. These sessions are intended to provide borrowers with an understanding of their rights and responsibilities under the Direct Loan Program. Entrance Counseling must be completed before the student's first loan is processed. Exit Counseling is to be completed upon graduation or withdrawal from the program. | |
| 3. | To complete an MPN and Entrance Counseling students should log into the Federal Loan website, using the PIN number used for their FAFSA. | |
Austin
Graduate School Financial Aid Application: Submit
completed application to the Austin Grad Financial Aid Office. See
links.
Free Application for Federal Student Aid
(FAFSA):
Complete your FAFSA online each academic year (fall-spring). Austin
Grad’s
school code is 017322. (Click on the banner below.)
PIN number: Applying for a PIN number allows
you to electronically sign your FAFSA and to be able to quickly renew your
FAFSA each year. Your PIN
also allows
you to view information about past federal aid received. (Click on the banner
below.)
Student Employment: The faculty and administration
of the School expect full-time students to maintain a high level of discipline
and quality in their academic pursuits.
To achieve
these goals, full-time employment is discouraged. Students having financial
needs may find it necessary to work in order to meet their expenses. To that
end, Austin Grad recommends that full-time students be employed no more than
20 hours per week.
Financial Aid @ Austin Grad: Overview & Policies: Click here to view a PDF of the document.
Austin
Grad Title
IV Loan Program Code of Conduct:
Click here to view a PDF of the document.
For questions or more information, please contact finaid@austingrad.edu.
Copyright © Austin Graduate School of Theology | 7640 Guadalupe Street | Austin, Texas 78752-1333 P: (512) 476-2772 | (866) AUS-GRAD | F: (512) 476-3919 | info@austingrad.edu |