Anderson University

School of Christian Ministry

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Master of Ministry Financial Aid and Payment Options

Stafford Loans:

Anderson University Master of Ministry (M.Min.) candidates are typically eligible only for Stafford loans.  The completed and submitted  The Free Application for Federal Student Aid (FAFSA) is required in order to determine eligibility for Stafford Loans.  

Graduate students are eligible for up to $8,500 in subsidized loans per academic year. Students who are not eligible to receive subsidized Stafford loans may apply for unsubsidized loans. A student may receive up to $12,000 in unsubsidized loans, which accrue interest from the point of disbursement. Students receiving a non-subsidized loan are responsible for interest-only payments while in school. 

Students have a choice of lenders and Anderson University participates in the Federal Direct Loan Program. 

A student must enroll on at least a half-time basis (3 hours per semester for master's degree candidates) to be eligible for a Stafford loan.

To apply for a Stafford loan:

Complete the FAFSA and have the results sent to Anderson University (003418).

Apply for your loan online as directed in your award letter, or request a paper Master Promissory Note (MPN) from Anderson’s Financial Aid Planning Office. If you currently have an MPN on file, you will not need to complete another one. 

All first-time borrowers through the Federal Stafford Loan Program must complete an entrance interview at http://www.mapping-your-future.org

Payment Plans:

Payment Plans are available through FACTS Management as a convenient online payment Plan service provider. Students who choose to use FACTS may select installment plans that are spread over several months.  This is not a loan program.  There are no interest or finance charges assessed, and there is no credit check.  The cost to budget your interest-free monthly payment plan is a $60 per year processing fee.  This is a nonrefundable FACTS enrollment fee.

Term I and II may be contracted for four (4) to six (6) months

Last Date to Enroll On Line

Number of Payments

Months of Payments

June 3, 2009

6

June to November

July 2, 2009

5

July to November

August 3, 2009

4

August to November

 

Term III and Term IV may be contracted for up to four (4) months.  The last date to enroll is December 31, 2009 with payments ending in April 2010.  For more information, please visit the AU website and click on the e-cashier link.

Scholarships:

Private scholarships may occasionally be available. Contact the David T. Clamp Graduate School of Christian Ministry (864.328.1809) for more information.

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