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Seminary Hosts Pittsburgh Pastoral Care Conference
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Series Explores the Idea of Spiritual But Not Religious
Pittsburgh Theological Seminary Names Assistant Professor of Homiletics
PTS Welcomes Associate Professor of Leadership and Ministry
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Applying for a Federal Graduate PLUS Loan
|What is it?||A long-term, credit-based, federal loan with a fixed 7.9 percent interest rate in the student’s name.|
|Who can apply?||
A student enrolled in school at least half-time per term working toward an M.Div., M.A., or STM degree; must be making satisfactory academic progress and not be in default on an education loan. The student must be a U.S. citizen or an eligible non-citizen.
Students must pass a credit check but may apply with a qualified co-borrower. It is recommended that students should apply first for the Federal Direct Unsubsidized Loan.
|How much can I borrow?||
The annual limit is the Cost of Education minus all other financial aid, including loans. In most circumstances, students may apply for the three terms at one time; a third of the loan will be disbursed for each term.
A student needs to reapply each academic year online and through the Financial Aid Office.
|Is there a fee?||The Federal government charges Graduate Plus borrowers a 4 percent Origination Fee which is deducted before the loan proceeds pay into the student's account.|
|When do payments begin?||Repayment begins 60 days after the last installment of the loan pays into the school. A student may qualify for a deferment if he/she is enrolled at least half-time.|
|How do I apply?||1. Graduate Plus borrowers must complete the FAFSA. If selected for Verification, the school will mail further instructions to the student.|
|2. Students must submit a PTS Graduate Plus Loan Request Form to the Financial Aid Office|
3. Students should visit www.StudentLoans.gov to complete:
For additional information, please visit Federal Loan Information, Guidelines, and Policy.