Federal Aid |
Financial Aid Handbook |
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Financial aid is available to qualifying students. All scholarship applicants must first apply and be accepted to a degree program. Federal and state student loans are available. In addition, a certain number of scholarships are available to students pursuing ministry in the Reformed Episcopal Church (REC) or the Anglican Church in North America (ACNA). Inquire for details ([email protected]).
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Student Handbook |
How to apply for Financial Aid?
Submission of the Free Application for Federal Student Aid (FAFSA) is the only action required to apply for most financial aid at Reformed Episcopal Seminary, however, some private scholarships and denominational scholarships require separate applications.
Reformed Episcopal Seminary is a graduate school for theological study. Therefore, students applying for financial aid at RES are only able to access graduate level funding from the federal government in the form of unsubsidized loans. Students should consider using federal loans before private loans as they tend to offer better terms. However, each student should do their due diligence to determine the best avenue for funding their education.
The seminary encourages each student to consider the cost of their education, commit to the sacrifices that it will entail, and exercise discretion when taking loans as they can become cumbersome, limiting a student’s future ministry opportunity. Should you receive loans, you are obligated to fulfill your financial obligations. Should you be offered more aid than you feel you need, Title IV of the Higher Education Act of 1965 ensures that “students have the ability to refuse all or borrow less than the maximum student loan amount allowed.”
Individual students are encouraged to apply for outside scholarships and to inform the seminary should they receive outside funding. They are also encouraged to ensure that the seminary has their most current email as we send out new scholarship opportunities as they become available. We are here to help you fund your education in the most responsible way possible. Communication is key.
If you plan on using benefits through the DoD, VA, or another program affiliated with the United States Military please refer to the Military Service Educational Benefits at RES (MAKE LINK) page of this web site for more information.
Choose your enrollment period
You will need to complete one, new FAFSA each year to be considered for financial aid. All students applying for financial aid must have successfully submitted a Federal Application for Financial Aid (FASSA) and notified the Financial Aid office of their intention to receive financial aid no later than 45 days before the first day of class of the term for which they are enrolling, or they may be ineligible for aid during that term. Students should receive notification from the Financial Aid Office outlining the details of their expected financial aid package no later than 3 weeks after the seminary receives their processed information. Inaccuracies in documentation, delay in the admissions process, or the use of outside funding sources may change or delay the final package offered to the student. FAFSAs submitted after the timeline will be processed only by permission of the administration. Reference the seminary calendar for the start dates for Fall/Spring/Summer sessions.
Get help
There are many resources out there to assist you in applying for Federal Aid:
Ensure receipt of email
Check the settings on your email to be sure messages from the following Seminary and Department of Education addresses are not blocked:
Review your Student Aid Report
After you submit the FAFSA, a Student Aid Report (SAR) will be generated and sent to you via email. When you get your report, verify that all your information is correct. If necessary, corrections can be made through the FAFSA website. If you have questions about your report, contact the Federal Student Aid Information Center at 1-800-433-3243. Be prepared to provide your DRN number (located in the upper right corner of your Student Aid Report). Remember to print the revised copy for your records. The Office of Student Aid will also receive a copy of your report and review your information. We will contact you if additional information is needed. Please note that Reformed Episcopal Seminary only offers graduate level programs. According to the Department of Education, graduate students are considered to be independent. This means that they don’t need to report their parents’ information on their FAFSA.
Contact Us
Please call our office at 610-292-9852 or email [email protected] and our Director of Financial Aid can assist you with any questions concerning your financial aid needs. RES requires contact with our Financial Aid office prior to offering, recommending, arranging, signing-up, dispersing, or enrolling in Federal or private student loan programs.
Reformed Episcopal Seminary is a graduate school for theological study. Therefore, students applying for financial aid at RES are only able to access graduate level funding from the federal government in the form of unsubsidized loans. Students should consider using federal loans before private loans as they tend to offer better terms. However, each student should do their due diligence to determine the best avenue for funding their education.
The seminary encourages each student to consider the cost of their education, commit to the sacrifices that it will entail, and exercise discretion when taking loans as they can become cumbersome, limiting a student’s future ministry opportunity. Should you receive loans, you are obligated to fulfill your financial obligations. Should you be offered more aid than you feel you need, Title IV of the Higher Education Act of 1965 ensures that “students have the ability to refuse all or borrow less than the maximum student loan amount allowed.”
Individual students are encouraged to apply for outside scholarships and to inform the seminary should they receive outside funding. They are also encouraged to ensure that the seminary has their most current email as we send out new scholarship opportunities as they become available. We are here to help you fund your education in the most responsible way possible. Communication is key.
If you plan on using benefits through the DoD, VA, or another program affiliated with the United States Military please refer to the Military Service Educational Benefits at RES (MAKE LINK) page of this web site for more information.
Choose your enrollment period
You will need to complete one, new FAFSA each year to be considered for financial aid. All students applying for financial aid must have successfully submitted a Federal Application for Financial Aid (FASSA) and notified the Financial Aid office of their intention to receive financial aid no later than 45 days before the first day of class of the term for which they are enrolling, or they may be ineligible for aid during that term. Students should receive notification from the Financial Aid Office outlining the details of their expected financial aid package no later than 3 weeks after the seminary receives their processed information. Inaccuracies in documentation, delay in the admissions process, or the use of outside funding sources may change or delay the final package offered to the student. FAFSAs submitted after the timeline will be processed only by permission of the administration. Reference the seminary calendar for the start dates for Fall/Spring/Summer sessions.
Get help
There are many resources out there to assist you in applying for Federal Aid:
- Call the Federal Student Aid Information Center at 1-800-433-3243
- Visit the Federal Student Aid (FSA) site at FAFSA: Applying for Aid
- Follow Federal Student Aid on YouTube
Ensure receipt of email
Check the settings on your email to be sure messages from the following Seminary and Department of Education addresses are not blocked:
Review your Student Aid Report
After you submit the FAFSA, a Student Aid Report (SAR) will be generated and sent to you via email. When you get your report, verify that all your information is correct. If necessary, corrections can be made through the FAFSA website. If you have questions about your report, contact the Federal Student Aid Information Center at 1-800-433-3243. Be prepared to provide your DRN number (located in the upper right corner of your Student Aid Report). Remember to print the revised copy for your records. The Office of Student Aid will also receive a copy of your report and review your information. We will contact you if additional information is needed. Please note that Reformed Episcopal Seminary only offers graduate level programs. According to the Department of Education, graduate students are considered to be independent. This means that they don’t need to report their parents’ information on their FAFSA.
Contact Us
Please call our office at 610-292-9852 or email [email protected] and our Director of Financial Aid can assist you with any questions concerning your financial aid needs. RES requires contact with our Financial Aid office prior to offering, recommending, arranging, signing-up, dispersing, or enrolling in Federal or private student loan programs.
Scholarships
Please contact Financial Aid office with questions regarding our conditions based scholarship opportunities.
RES Student Loan Cohort Default Rate** (CDR)
RES Student Loan Cohort Default Rate** (CDR)
**These statistics are taken from NSLDS reporting for the 3 most recently recorded years.
The CDR is derived from the percentage of eligible students who borrow loans at RES (students registered more than ½ time who borrowed any amount during the specific time period.)
The Official National CDR for FY 2020, per the US Dept. of Education, calculated on August 5, 2023, is 0.0%; which is a 100% decrease from FY 2019 Official of 2.3%. This drop is due to the temporary moratorium on student loan repayment implemented by the government in response to the economic downturn caused by the policies enacted during the COVID 19 outbreak, and is not to be taken as an accurate indicator of the national CDR under normal circumstances. (https://fsapartners.ed.gov/sites/default/files/2023-09/FY20OfficialBriefingSlides.pdf)
**These statistics are taken from NSLDS reporting for the 3 most recently recorded years.
- 2020, 0% of 7 total borrowers
- 2019, 0% of 5 total borrowers
- 2018, 0% of 5 total borrowers
The CDR is derived from the percentage of eligible students who borrow loans at RES (students registered more than ½ time who borrowed any amount during the specific time period.)
- 2020, 50% borrowed
- 2019, 45% borrowed
- 2018, 45% borrowed
The Official National CDR for FY 2020, per the US Dept. of Education, calculated on August 5, 2023, is 0.0%; which is a 100% decrease from FY 2019 Official of 2.3%. This drop is due to the temporary moratorium on student loan repayment implemented by the government in response to the economic downturn caused by the policies enacted during the COVID 19 outbreak, and is not to be taken as an accurate indicator of the national CDR under normal circumstances. (https://fsapartners.ed.gov/sites/default/files/2023-09/FY20OfficialBriefingSlides.pdf)
