All master's-level students at Louisville Presbyterian Theological Seminary receive 100 percent tuition assistance thanks to the Covenant Tuition Grant Program. Following are some frequently asked questions about how the Covenant Grant Program works. For further questions, please contact Louisville Seminary Registrar Steve Cook at firstname.lastname@example.org or Financial Aid Coordinator April Stepney at email@example.com. What does the tuition grant cover?
The tuition grant covers 100 percent of the total credit hours required to complete the degree program to which the student is admitted. The grant covers the cost of tuition charges ONLY and not the charges of other institutions. What is required for a student to receive a tuition grant?
A student must register for at least 15 credit hours each academic year with at least six credit hours in the summer/fall terms and six credit hours in the winter/spring terms. (If the student is nearing graduation, there is some flexibility.) Are there required courses that a student must take to retain the tuition grant?
Besides the courses required for each master’s-level degree program, all students are required to attend three Money Matters seminars during their degree programs. There is no registration cost associated with these seminars. The three seminars cover personal finance, church/nonprofit administration and fundraising. What costs are not covered by the tuition grants?
Student accounts are charged $143 in fees associated with enrollment for each term (fall and spring terms only). Tuition grants also do not cover the cost of on-campus housing (rent). Rent, if applicable, is charged each semester to student accounts. Students who do not pay their student account balances in a timely manner will be charged a late fee – also not covered by the tuition grants. Graduating students pay a graduation fee at the end of their last term of registration. This does not include the cost of a rental robe for commencement, if applicable. (Note: Cost-of-living stipends will be added to the Covenant Tuition Grant Program beginning in the fall 2021 semester.) What if a student drops a course or fails a course?
There is an out-of-pocket cost associated with withdrawing from a course after a term’s “drop/add” period for which a student is responsible. A refund schedule is made available each term that specifies the percentage of the cost of a course that is “refunded” after withdrawal. For students who receive a tuition grant, the percentage of the tuition grant that is not refunded to the seminary is an out-of-pocket cost for the student. There is an out-of-pocket cost associated with failing a course. A student is personally responsible for the cost of attempted coursework that exceeds the total credit hours required for a degree.
What if a student changes degree programs while currently enrolled at Louisville Seminary?
When a currently enrolled student is accepted to a new degree program, the student may incur out-of-pocket tuition costs. If the student’s total credit hours earned will exceed the number of credit hours required for the second degree (the degree transferred to), the student will bear the tuition cost of these extra hours. Are transfer students eligible for the full-tuition grants?
Yes. However, a student with transfer credit from an appropriately accredited master’s-level degree program will receive tuition support for ONLY the hours remaining to complete the total credit hours required for the degree to which the student is admitted. How are Bookends Funds, scholarships and non-Louisville Seminary financial assistance funds applied to the tuition grants?
Louisville Seminary’s Bookends Funds help students with the costs of books. An award of Bookends Funds is in addition to other Louisville Seminary financial awards, including the tuition grants. To be eligible for Bookends Funds, a student must complete an Income/Expense Worksheet each year because Bookends Funds are awarded only to students who demonstrate financial need (expenses exceed income).
Scholarships of $20,000 or $15,000 a year will be applied to a student’s account, which is intended to cover, first, the cost of the student’s tuition charges. Thus, tuition costs will be deducted from the scholarships before the remaining amount is awarded. Money that remains in the student’s account will then cover the student’s on-campus housing cost (rent), if applicable, as well as any other seminary costs. Scholarships of $5,000 and $10,000 are paired with the 100 percent tuition grants. Because a student who receives a $5,000 or a $10,000 scholarship also receives a 100 percent tuition grant, such scholarship money will not need to cover tuition costs. However, scholarship funds will be used to pay first any other charges on a student’s account, including student fees and rent (if applicable). Several non-Louisville Seminary funding sources (some church organizations, for example) require that students demonstrate financial need and request confirmation of financial need from the Louisville Seminary Financial Aid office. For this reason, all students are highly encouraged to complete an Income/Expense Worksheet each year.