Are you concerned about the cost of your seminary education? You’re not alone. The cost of seminary is one of the largest deterrents when it comes to pursuing higher theological education, but it doesn’t have to be! At Grace Theological Seminary, we are committed to offering an affordable theology degree and helping students graduate with as little debt as possible. From scholarship competitions to credit price reductions, here are just a number of things you should look for when it comes to choosing a school and finding financial aid for seminary:
1. Scholarships Offered by the School
Seminaries may offer scholarships for your grades, competencies, or affiliations. If you want to get an affordable theology degree, it would be wise to start your seminary search by looking at the schools that offer some kind of assistance through scholarships.
At Grace College, we offer all seminary and Deploy students our GTS scholarship. This scholarship decreases your cost per credit hour significantly. Members of Charis Fellowship churches will pay $65 less per credit hour, and all others will receive a $50 reduction per credit hour. To receive this major cost-saving scholarship, apply by August 24 for the fall semester and January 1 for the spring semester.
2. Church Matching Opportunities
Church matching is one of the most common forms of financial aid for seminary. If you are a current pastor at a local church, chances are, your church is behind you in your pursuit to further your education. After all, what congregation wouldn’t support their pastor’s desire to grow in his knowledge of God’s word? In fact, it’s so important, they might even be willing to put their wallet behind you. If this is the case, many seminaries have church-matching scholarships available. This means that for every dollar your church puts toward your degree, the school will match it!
Grace Seminary’s church matching scholarship will match the amount of the church up to $500 per year. To be eligible, you must be enrolled in a two or three-year program taking at least five or more credit hours per semester. The application deadline for the fall semester is August 1 and the spring deadline is December 15.
If you are eligible, have your church fill out the following forms to apply!
Loans are a good way to bridge the gap between tuition costs and the price you are able to pay when other seminary financial aid options have been exhausted. Forgivable loans are an even better option. Forgivable loans, as the name suggests, can be forgiven or deferred in their entirety if certain conditions are met by the loanee.
At Grace, prospective students interested in serving with the Charis Fellowship of Churches are encouraged to apply for a forgivable loan sponsored by the Grace Brethren Investment Foundation (GBIF). A total of $50,000 in forgivable loans can be awarded to four students who commit to serving in a Charis Fellowship ministry for at least three years after graduation. These funds will cover up to a third of a student’s total tuition costs for their degree program!
4. Special Events
Another great way to find an affordable theology degree is by attending scholarship events hosted on the seminary’s campus. Some seminaries invite students to campus for more exclusive, formal competitions. These events may require prospective students to interview with faculty or write an essay. Other seminary events might be structured more like a conference or symposium, inviting a large number of guests.
Every year, Grace invites prospective residential students to its campus for $2K Day. The day includes a tour of campus, lunch at the dining hall, and the opportunity to get to know the seminary faculty. If at the end of the day, you decide that Grace is the place for you, you will receive a $2,000 scholarship to attend. If you’re interested in participating, contact us at GTSrec@grace.edu. Scholarships are limited!
All of these options, (and more!) are available to you at Grace Theological Seminary. We call this the way of Grace. Grace not just for you…but also for your wallet!
Learn more about our financial aid for seminary to help ensure you get an affordable theology degree.