How To Apply

Institutional Scholarship

Institutional Scholarships are available for students in the Masters programs (Master of Divinity, Master of Arts – Religious Education, Master of Arts – Pastoral Care & Counseling, Master of Arts – Religious Leadership & Administration, Master of Arts – Youth Ministry). Students in the Doctor of Ministry program, Certificate programs and international students in their first year of studies are not eligible to apply for or receive the NYTS scholarship. You can download the application online HERE, or visit the NYTS office to receive a printed copy. Applications may be submitted using only ONE of the following methods. You may not submit multiple applications and you are encouraged to confirm receipt of your submission to TWhite@nyts.edu.

FinAid Chart

Federal Direct Loans

As with all federal student aid, you apply for Direct Loans by filling out the Free Application for Federal Student Aid (FAFSA). Students at New York Theological Seminary are required to complete their applications online. The information on your FAFSA is transmitted to NYTS, and it is used to assess your financial need for student aid.

The Award Package

Direct Loans are generally awarded as part of a larger award package which may contain institutional scholarship awards, external awards, etc. Please notify the Seminary immediately if you have received or expect to receive any external aid as this may affect your loan amounts.

Accepting a Loan

  1. You will receive notification and an award letter detailing the proposed loan amounts being offered.
  2. You should evaluate the aid offer carefully. In the case of loans, keep in mind that whatever amount you borrow must be paid back with interest. If your living expenses are not as high as the standard allowance projected by the Seminary, you may not have to borrow as much as the amount in the award letter.
  3. You have the right to decline the loan or to request a lower loan amount and have the opportunity to do in the award letter.

Entrance Counseling

If you haven’t previously received a loan, you must complete entrance counseling before the Financial Aid Office can make the first disbursement of your loan. This helps you to understand your responsibilities regarding your loan. You may complete this counseling online.

The Master Promissory Note

  1. To take out a Direct Loan for the first time, you must complete a Master Promissory Note (MPN). You can complete the MPN online at the Direct Loans Master Promissory Note website. The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the Department of Education. It also explains the terms and conditions of your loan(s).
  2. To complete an MPN online, you will be required to use your Department of Education-issued PIN. If you do not have a PIN, you may request one from the official PIN site.
  3. Once you’ve submitted the MPN and it’s been accepted, you won’t have to fill out a new MPN for future loans you receive. You can borrow additional Direct Loans on a single MPN for up to 10 years. You’ll receive a disclosure statement that gives you specific information about any loan that the school plans to disburse under your MPN, including the loan amount, fees, and the expected disbursement dates and amounts.

Exit Counseling

You must complete exit counseling before the Financial Aid Office can make the first disbursement of your loan. This helps you to understand your responsibilities regarding your loan. You may complete this counseling online.

 

Comments are closed.