For theological students preparing to serve in a PC(USA) congregation. The Presbyterian Church (U.S.A.) Theological Student Loan program serves Presbyterian M.Div. students who are inquirers or candidates and MACE students attending accredited seminaries in the United States. The interest rate for new borrowers (2009-10) is 5.5%.

There is a loan fee charged at disbursement of loan proceeds. The loan fee will not exceed 4%. In 2009-10 it is discounted to 2%.

Range of loans:

• First year: $3,000.00 (inquirer), $3,000.00 (candidate)
• Second year: $3,000.00 (inquirer), $6,000.00 (candidate)
• Third year: $6,000.00 (candidate)
• Total: $6,000.00 (inquirer), $15,000.00 (candidate)

For more information on loan caps for students in four-year programs or for part-time students, please contact the Office of Financial Aid.

Criteria

• Be a citizen of the United States or a permanent resident (official documentation of permanent residency required)
• Be a member of the Presbyterian Church (U.S.A.)
  • M.Div. students in years 1 and 2 must be an inquirer or candidate
  • M.Div. students in year 3 must be a Candidate
  • Students in continuing full time studies after the M.Div. must be a Candidate.
• Be normally enrolled at an institution in the United States accredited by the Association of Theological Schools (ATS).
• Student’s seminary must demonstrate that the student has educational cost in excess of aid offered after the student has applied for and been awarded merit and need based aid.
• Student must demonstrate financial reliability.

Application

The program is closed for 2009-10 and will remain closed through 2010-11 for program redesign.