Faculty - Princeton Theological Seminary

Unsubsidized Federal Stafford Loan
If a student does not qualify for a Subsidized Federal Stafford Loan, or has need
beyond that which is covered by a Subsidized Loan, he/she may qualify for an
Unsubsidized Loan. The same terms and conditions apply to this loan except that
interest accrues while the student is still in school and during other grace and
deferment periods.
Federal Perkins Loan
This loan is another need-based federally funded student loan. PTS students who
are enrolled in a degree program and demonstrate a high degree of need may be
considered for this campus-based federal loan. In this program, the federal government
has provided the Seminary with the funds to lend to its neediest students.
The Seminary awards Perkins loan to currently enrolled students based on need.
The amount available and award maximums are based on the amount of anticipated
collections from former students who are in repayment each year. The interest
rate for the Perkins Loan is currently 5%. No interest accrues while the student
is enrolled at least halftime. Student borrowers are entitled to a nine-month grace
period after they cease to be enrolled on at least a half-time basis. Repayment then
begins. Borrowers have up to ten years to repay their loan obligations.
Federal Work Study (FWS)
Each year, the federal government awards the Seminary matching funds used to
offer Federal Work Study placements to needy students. Eligible students who
wish to be considered for a FWS-funded position should contact the Office of
Admissions and Financial Aid to obtain an application and review available job
opportunities.
Self-support
It is assumed that a Seminary student will make every effort toward self-support
to meet the demands of his or her program of study. It is suggested that students
consider employment on or off campus as a way of reducing their dependency
on loans. Field education placements for both the summer and the academic year
(except in the case of first-year students) are another way for students to fund their
Seminary expenses.
On-campus employment in the Seminary dining hall, library, bookstore, and
administrative offices is available to interested Seminary students. The Office of
Admissions and Financial Aid assists students in finding positions on campus and
helps spouses by publishing a booklet that contains a listing of outside employers
who frequently hire Seminary spouses.
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