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Federal Aid

The Seminary participates in the following federal financial aid programs: the William D. Ford Federal Direct Unsubsidized Student Loan Program, the Graduate PLUS Loan Program and the Federal Work Study Program. These TITLE IV Federal Aid Programs can be used to meet matriculated students’ unmet financial need for the academic terms in which they are enrolled.

Due to the financial circumstances that most Seminary students face upon completion of their program, we recommend that a student’s borrowing be kept to a minimum. Loans should be considered as a last resort. Students who think they need to borrow after exhausting all other alternatives should contact a member of the financial aid office staff to discuss loan options and their implications.

William D. Ford Federal Direct Unsubsidized Loan 

This  Title IV federal loan can provide up to $20,500 in federal loan assistance each academic year. Degree candidates enrolled at PTS at least half-time may apply for this loan. Federal Direct Loans are made directly from the U.S. Government and are processed through the Office of Admissions and Financial Aid.

The interest rate for graduate students borrowing through the Federal Direct Loan program is currently 4.3%. Interest will accrue on all loans from the time of disbursement. Students will also have to pay a small origination fee of approximately 1% to process a Federal Direct Loan. This fee is deducted from the loan proceeds at the time of disbursement.  This loan also has a six month grace period following the student borrower’s last date of at least half-time attendance. Repayment then begins on a monthly basis after the grace period expires.

Federal Direct Loans are usually processed in two installments as required by law. PTS students who are first time federal loan borrowers are required to have an Entrance Interview. This entrance interview can be done online at

Loans are processed through Electronic Funds Transfer, and will be deposited into the student’s PTS account. If the loan proceeds create a credit balance, the Bursar's Office will issue a refund within the federally prescribed time frame for this process.

How to Apply for a Federal Direct Loan

In order to apply for a Federal Direct Loan the following must be completed:

  • You must complete a Free Application for Federal Student Aid (FAFSA) at Be sure to designate PTS as a recipient of your FAFSA results using our federal school code: G02626.
  • You must complete a Federal Direct Loan Master Promissory Note. This needs to be done only once during your enrollment at PTS. This can be done electronically at
  • You must complete federally mandated Entrance Counseling. This can be done electronically at If you have done this for a previous loan, you do not need to complete the counseling again.
  • You must also complete a Direct Loan Request form. This form lets us know how much you wish to borrow in the Direct Loan program. You can access this form at our financial aid resources page.
  • Return your request form to the Office of Admissions and Financial Aid.
  • We may need additional documents in order to process your loan. If we do, we will follow up with you to complete your requirements. Once we have all the required items, we will process your loan, and a new award letter will be sent to you.

Graduate PLUS Loan

The Grad PLUS Loan can meet additional financial need above and beyond the Federal Direct Loan. This loan has an interest rate of 5.3% and has an origination fee of 4.3%. It also requires a special application and credit check done at For more information about applying for the Grad PLUS Loan, please contact the Office of Admissions and Financial Aid.

Federal Work Study

Each year the Federal Government awards the Seminary matching funds used to fill Federal Work Study placements with needy students. Eligible students who wish to be considered for a FWS funded position should first complete a Free Application for Federal Student Aid (FAFSA) at Be sure to designate PTS as a recipient of your FAFSA results using our federal school code: G02626. Then, you must complete the FWS application. Students may contact our office to obtain an application or download it directly here.

FWS timesheets are submitted every other week during the academic year and must be signed by both the student and supervisor in accordance with student assignment arrangements. More information is available by reading the Student and Spouse Employment Guide, available from the Office of Admissions and Financial Aid.

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