Financial Aid For Dmin

2010-2011 NBTS Financial Aid: Doctor OF Ministry Students

D.Min. students who are enrolled in courses that carry six academic credits during all three trimesters of the 2010- 20101 academic year may be eligible for Federal Direct loans.* These loans are administered through the US Department of Education; eligibility requirements and procedures adhere to federal regulatory guidelines. You must be a US citizen or legal permanent resident to qualify.

*Doctor of Ministry students can qualify for Direct loans during the first two years of the program when they are enrolled in academic course work. They can not qualify during the third year.

To apply for a Direct loan, each year you must:

- Complete the electronic FAFSA ON THE WEB at Be sure to enter NBTS' Federal School Code (G02619) as one of your college choices.

- Complete a D.Min. registration form showing that you are enrolled in 6 credits of course work for each trimester of the current year

- Notify the Seminary's financial aid administrator, So Ae Heintzelman (, 732-247-5241 x311):

If this is the first time you are completing this form, go to to obtain your pin. Once you have your PIN, to to enter your financial information. If you need help, call 1-800-433-3243 or email

If you provide a valid email address on your FAFSA, your Student Aid Report (SAR) will come to you electronically through the Web. Carefully review your SAR to ensure all information is correct. NBTS will receive the SAR data a couple of days after you complete FAFSA.

*Students may be required to submit documentation of the prior year's income if selected for verification by the Department of Education or the Financial Aid Administrator. Verification or apparent discrepancies in FAFSA data must be resolved prior to disbursement of federal TITLE IV aid.

How the process works: The Department of Education uses a predetermined formula to calculate how much students are able to pay toward the cost of their educational expenses that year. This is the Estimated Family Contribution; the figure appears on the Student Aid Report that you view on line as the EFC.

The Seminary estimates D. Min. students' projected cost of attendance (COA) for the academic year based on the cost of six credits of study added to an estimated cost of living. A comparison of the EFC and COA-with consideration for the value of any scholarship assistance you receive from your congregation, denomination, or another source-determines your need and the amount of Direct loan funds for which you are eligible during that year. If you have defaulted on a previous federal loan, you will be ineligible for further loans until the default is settled and reported to the Department of Education.

- There are two kinds of Direct loans, subsidized and unsubsidized: Subsidized loans are based on need. They do not accrue interest while students are enrolled in the minimum level of academic course work. The maximum annual amount is $8,500 with an aggregate limit of $65,000.

- Unsubsidized loans are based on enrollment. They do accrue interest while students are enrolled but interest payments may be deferred by rolling them into loan repayments. The aggregate limit is $138,500.

What happens after submitting documents: Letters with student loans are mailed out. Initial your letter, sign it and return it to the Financial Aid Office. All first-time NBTS Direct loan borrowers must also complete an on-line Entrance Counseling and Master Promissory Note. Borrowers who leave school (by graduating or stopping their studies) must complete an Exit Counseling.*

*A hold is placed on your transcripts if you do not complete exit counseling.

A gentle but important reminder: Loans are not gifts; they must be repaid! The Seminary urges you to borrow the minimum you need to cover your educational expenses.

*Loan eligibility extends only to the year(s) that you are enrolled in at least six credits of academic course work in all three trimesters. Loan funds will be disbursed in three payments-one third in each of the trimesters-once your registration has been confirmed. Federal regulation requires that we return loan funds for any student who has failed to register for six credits.

Scholarships: If you have any questions regarding D.Min Scholarships, please contact Dr. Warren Dennis at 732-247-5241 ext.108.

Questions: Contact So Ae Heintzelman in NBTS Student Services at 732-247-5241 ext. 311 or

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