General Information
Applying for Financial Aid
Scholarships and Grants
Spouse Teamwork Scholarship
Students Under Care of Presbytery
Student Loans
Satisfactory Academic Progress
Veterans Information
On-Campus Employment
Other Employment Opportunities
Raising Support
Deferred Billing
Important Downloadable Forms

Financial Aid

General Information

Covenant Seminary is committed to making every possible resource available to help you meet the costs of seminary, and we encourage students to apply for assistance. Students receiving financial aid (scholarships and/or government loans) are responsible for the information in the Financial Aid Handbook. Any questions not answered in the handbook should be directed to the Financial Aid Office. A helpful guide for the average living expenses of our students and other students in the St. Louis area is also available (see PDF links below).

Applying for Financial Aid

The process for applying for financial aid is as follows:

New students should indicate that they are interested in financial aid on the admission application.
A financial aid packet will then be sent with the Financial Aid Handbook and Application for Financial Aid. The Application for Financial Aid should be returned as soon as possible since some scholarships have deadlines. You may also download the appropriate Application for Financial Aid in PDF format. Prospective students may normally expect a response within one month from the time their admission and financial aid files are complete. It is to the student's benefit to complete all aspects of the admission process as early as possible.
RETURNING STUDENTS ONLY: Financial aid is normally awarded for one year at a time and students must reapply each year. Returning students should submit all materials to the Financial Aid Office by April 15 of each year. Financial aid application packets are available in the Financial Aid Office in February of each year or may be downloaded after that time. You may also download the 2008-2009 Application for Financial Aid in PDF format.
For late renewal applications, scholarship amounts will be reduced by 10 percent for each week after the April 15th deadline. Applications that are two months late are normally not considered at all, as most funds will have already been distributed.
NEW AND RETURNING STUDENTS: All students, both new and returning, must complete the Free Application for Federal Student Aid (FAFSA). You may fill out the FAFSA online. This is the fastest and most reliable method. If you need a paper form, please contact the Financial Aid Office. Covenant Seminary's school code is G04707. Please see the FAFSA tipsheet for help or call the Financial Aid Office with questions.
Students expecting to receive financial assistance from an individual, church, church agency, government agency, employer, etc., should make arrangements far enough in advance to have the minimum payment in time for registration. If the church or agency cannot meet the financial requirements by registration, the responsibility to meet them lies with the student. Some students are eligible to receive financial assistance from their employers through a continuing education fund. Prospective students should inquire about such programs from their employers.

Scholarships and Grants

Our supporting denomination (the Presbyterian Church in America [PCA]) and friends of the Seminary have been very generous with financial aid endowments and gifts. Last year, financial awards totaled over $1.5 million in student tuition scholarships from a number of sources. Students from all denominations are eligible for such awards. Merit, ministry potential, ministry experience, financial need and other aspects of the student's profile all play an important role in determining a student's eligibility and ultimate selection for in-house scholarships. For a complete listing of available scholarships, see the 2008-2009 Financial Aid Handbook.

In addition to other scholarships, Covenant Seminary is pleased to make the following leadership scholarships available to a limited number of students each year. These scholarships include:

The Kern Family Foundation Scholarship. These are 100 percent tuition scholarships for Master of Divinity (MDiv) students who have demonstrated academic and leadership ability and are committed to local church ministry.
Founder's Church Leadership Awards. These are 100 percent tuition scholarships for Master of Divinity (MDiv) students with a strong aptitude for pastoral leadership.
The Strategic Church Development Awards. These are 100 percent tuition scholarships for Master of Divinity (MDiv) students who will help meet the growing needs and desire for African-Americans, Hispanics, Asians, and other minorities to serve as PCA pastors and church planters within the United States.
The Ministry Leadership Awards. These 50 percent tuition scholarships are for Master of Divinity (MDiv) and Master of Arts in Educational Ministries (MAEM) students with a demonstrated call to ministerial leadership. This scholarship includes but is not limited to our historic Reformed University Fellowship (RUF), Covenant College, and Campus Ministry scholarships.

If you are interested in applying for any of the above scholarships, please refer to the 2008-2009 Financial Aid Handbook, or call the Financial Aid office (800.264.8064 or 314.434.4044, ext. 4940) with any questions. Many of the above scholarships have application deadlines, restrictions, and specific requirements.

Spouse Teamwork Scholarship

Because we believe that Christian ministry involves the whole family, qualified spouses of all full-time students may attend regular seminary classes for credit or audit via the Spouse Teamwork Scholarship. Download the Spouse Teamwork Scholarship Application Form in PDF format or request an application from the Financial Aid Office. See the 2008-2009 Financial Aid Handbook for further information.

Spouses seeking to apply for the scholarship must apply to the Seminary, be accepted, and register for courses in the same way as other students. The spouse may receive scholarship on the number of hours the student takes each semester. The student spouse scholarship is available to students in all degree programs, but is limited to 50 percent scholarship per year in the Master of Arts in Counseling (MAC) program.

Financial Aid for PCA Students Under Care of Presbytery

Presbytery Scholarships. The following presbyteries have partnered with Covenant Seminary to establish scholarship funds for their students under care: Ascension, Calvary, Central Florida, Central Georgia, Chesapeake, Chicago Metro, Covenant, Eastern Canada, Eastern Carolina, Eastern Pennsylvania, Evangel, Fellowship, Georgia Foothills, Grace, Great Lakes, Gulf Coast, Heritage, Illiana, Louisiana, Metro Atlanta, Missouri, Nashville, New Jersey, New York State, North Florida, Northwest Georgia, North Texas, Northern Illinois, Northern New England, Ohio Valley, Pacific, Pacific Northwest, Palmetto, Philadelphia, Philadelphia Metro West, Pittsburgh, Potomac, Savannah River, South Texas, Southeast Alabama, Southern Florida, Southern New England, Southwest, Southwest Florida, Susquehanna Valley, Tennessee Valley, Warrior, Westminster.

Request an application form from the Financial Aid Office or download the Presbytery Scholarship Application Form in PDF format. A copy of the form should be sent to the Financial Aid Office and the original should be sent to the stated clerk of your presbytery.
LAMB Fund. Full-time Master of Divinity (MDiv) students under care of any presbytery may apply for the LAMB Fund. The Fund provides a $450 per year loan that is forgivable at 20 percent per year of service in the PCA after ordination. The application form should be submitted to your session and then to the presbytery. Download the Lamb Loan Application Form in Adobe PDF format.
Other Presbytery Scholarships. In addition to the above, some presbyteries have established their own scholarship funds. Check with your presbytery to see if additional funds are available.

Student Loans

Covenant Theological Seminary students are eligible for student loans backed by the federal government. Through the Stafford Loan program, students may borrow up to $8,500 of subsidized loans a year to fund their education. Not only are the interest rates in this program low, but repayment is deferred until six months after graduation or dropping below half-time enrollment status.

In the interest of preventing a difficult financial situation for students after graduation, the Seminary strongly discourages Master of Divinity (MDiv) students from borrowing more than $26,000; For students in the following degree programs, the suggested limit is $20,000: Master of Arts in Educational Ministries (MAEM), Master of Arts in Counseling (MAC), Master of Arts (Theological Studies) (MATS), Master of Arts (Exegetical Theology) (MAET).

This includes all undergraduate and graduate loans. Anyone exceeding these amounts is required to participate in loan counseling with the Director of Financial Aid. Stafford Loans are not available to Access Distance Education students, or Doctor of Ministry (DMin) or international students.

Satisfactory Academic Progress

To remain eligible for scholarships and government assistance, students must maintain satisfactory academic progress, which is measured by both the quantity and quality of academic work. Students must be enrolled for at least half-time status at Covenant Theological Seminary to be eligible for loans or loan deferments.

More information about how Satisfactory Academic Progress is determined is available for downloading in PDF format.

Veterans Information

Covenant Theological Seminary is certified by the Veterans Administration (VA) as a school that veterans may attend with benefits. The terms of veteran enrollment, certification, progress, etc., are spelled out in detail in the Seminary Catalog. All veterans' benefits are handled by the Registrar's Office.

On-Campus Employment

An additional source of income for many students is on-campus employment. Part-time jobs in various departments range from physical plant duties to library assistance to receptionist work. About ten percent of our full-time students are typically employed by the Seminary. Some spouses of students also are employed by the Seminary full- or part-time. More information about on campus employment can be obtained from the personnel manager. Resumes may be forwarded to the Business Office in care of Jean Lehmkuhl.

Other Employment Opportunities

Some of our students work part-time in local churches. Many of these churches have developed internship programs for students, which provide not only remuneration, but also valuable experience in church work. In addition to church employment, students and their spouses have a wide selection of work opportunities available to them in the diverse economy of the St. Louis area. The Student Services Office is an excellent resource for students seeking current employment information and assistance. Contact the Admissions Office for additional information and help with your off-campus employment search.

Raising Support

Students seeking additional support may wish to check with Student Ministries, Inc. (SMI), a non-profit national organization that provides a way for family, friends, and churches to make tax-deductible contributions to assist you with ministry and living expenses while attending seminary. To qualify, you must be involved in an approved ministry. Contact SMI at www.studentministriesinc.org or by phone at 866.653.8802.

Deferred Billing

Covenant Seminary gives special consideration to students who are unable to pay the full semester's charges at registration. A deferred-payment plan allows students to defer up to 75 percent of their outstanding tuition charges. All prior balances must be cleared before students may qualify for the deferred-payment plan. At the time of registration, students must pay at least 25 percent of the balance of tuition (after financial aid is applied), other fees, and a deferment fee. The remaining charges must be paid in three equal monthly installments, or before the next scheduled registration, whichever comes first. If the payments are not made as scheduled, the student may be dropped from class, with all monies paid to date forfeited. Students are encouraged to maintain a good credit rating. An account will be considered past due if it remains unpaid past the deferred time limit. In the next semester, students with a record of past due deferred accounts are required to pay 50 percent payment of the remainder of all tuition, fees, and semester dorm charges (after financial aid has been applied). Students will be denied deferred payment privileges if a past due condition occurs in two consecutive semesters.