Financing a Masters Education

McCormick Theological Seminary is committed to helping qualified students attend seminary, regardless of their ability to pay. A wide range of financial aid is available, including merit scholarships, need-based tuition grants, and loans. On- and off-campus employment is also available.

McCormick's Office of Student Financial Planning offers support and assistance for those seeking to manage the financial aspects of their seminary education.

For more information on scholarships, loans and grants, as well as student employment, please contact Tabitha Clark, Director of Student Financial Planning, at 773/947-6309 or tclark@mccormick.edu. 

This helpful video on financial aid from Auburn Seminary is best viewed in Internet Explorer or Safari. If video does not load, please click here

Student Loans and Seminary Costs: How to keep from mortgaging your future from Auburn Seminary on Vimeo.

Financial Aid Offered Through McCormick
McCormick Theological Seminary has several financial aid options to meet the needs of incoming and current students. The following links provide general information about McCormick's financial aid resources:

  • Merit Scholarships
  • Need-based Tuition Grants
  • Student Loans
  • Employment
  • Merit Scholarships

Through its excellent Merit Scholarship program, McCormick Theological Seminary seeks to encourage and support the brightest and most promising students who demonstrate outstanding potential for leadership in the church. These scholarships range from $15,000 to $25,000.

To be considered for a Merit Scholarship, prospective students must complete the McCormick application for admission by March 1. There is no separate scholarship application, and all admitted students will be considered for Merit Scholarships by the McCormick faculty. Those receiving awards will be notified by April 1.

Merit Scholarship Criteria

  • Evidence of active Christian faith and practice, and of a personal call to ministry
  • Outstanding achievement in undergraduate and graduate-level academic programs and in previous work experience
  • Demonstrated potential for leadership
  • A citizen, permanent resident, or eligible nonresident of the United States.

Merit Scholarships are awarded to incoming full-time students and are renewable annually. 

Need-based Tuition Grants

Need-based Tuition Grants, which cover all or part of tuition costs, are awarded based on financial need. These grants are made possible by the generosity of various donors. Download the application here

Need-based Tuition Grant Criteria

  • Acceptance into a degree or certificate program. Special students do not qualify.
  • Minimum enrollment of at least six courses per academic year.
  • Be a student in good academic standing and maintain satisfactory process in fulfilling degree  requirements.
  • Demonstrate financial need through McCormick's Financial Aid Application
  • Be a citizen, permanent resident, or eligible non-resident of the United States.

Applying for a Need-based Tuition Grant

  • Tuition grant applicants must be accepted into a degree or certificate program. Complete and return McCormick's Financial Aid Application by April 15.
  • Submit a Free Application for Federal Financial Aid (FAFSA) to the U.S. Department of Education.  The FAFSA, along with instructions for its completion, can be located at www.fafsa.ed.gov. For FAFSA Step Six, McCormick's Title IV School Code is G01721.

Need-based Tuition Grant Deadline

  • The Office of Student Financial Planning must receive applications and all documents by April 15
  • Complete applications are processed in the order in which they are received. 
  • Because funds are limited, it is in student's best interest to apply for a Need-based Tuition Grant as early as possible.
  • Need-based Tuition Grants will be awarded in early June.

Student Loans

Although it may be necessary to borrow money to pursue your education, McCormick urges students to do so with great care. Salaries of seminary graduates are generally not substantial enough to support a large loan repayment program. McCormick's Office of Student Financial Planning can provide more information about subsidized and unsubsidized Federal Stafford loans.

Applying for a Direct Loan

To receive a Direct loan, students must:

  • Complete the online entrance interview at Mapping Your Future.
  • Complete the Direct loan request available upon request from Office of Student Financial Planning
  • Complete the FAFSA. McCormick's school code is G01721.
  • Complete a Master Promissory Note in McCormick's Office of Student Financial Planning.
  • Complete a one-on-one entrance interview with the Tabitha Clark, Director of Student Financial Planning.

Student Employment

A variety of jobs available, both on- and off-campus are available for all McCormick students. McCormick also participates in the Federal Work-study Community Service Program. 

Seminary Loan Forgiveness

The Presbyterian Church U.S.A. offers loan forgiveness in certain situations.  If you graduate and serve in a part-time or temporary pastoral position in a PC(USA) congregation of 150-members or less, you may be eligible for loan forgiveness through the PC(USA) Board of Pension's Theological Student Loan Forgiveness Program.  For more information, see http://www.pcusa.org/news/2011/4/19/financial-aid-studies-announces-new-theological-st/ and the Board of Pensions website at http://www.pensions.org/portal/server.pt?open=514&objID=246&mode=2.

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Questions?

Contact your Admission Rep

Masters Information Request
773.947.6286
inquiry@go.mccormick.edu

Doctor of Ministry Information Request
773.947.6361
dminadmissions@mccormick.edu

Senior Director of Admissions & Enrollment
Rev. Veronica Johnson
773.947.6319

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Spring 2015
February 7