Financial Aid

Financial Aid Availability At Memphis Theological Seminary

Please refer to the Seminary catalog for information about financial aid availability.
NOTE THAT THE ONLY AID AVAILABLE TO ENTERING STUDENTS IS LISTED BELOW. You must first be admitted into a degree seeking program before applying for any financial aid. Please contact the Admissions Office to begin the process.

Federal Stafford loan (contact Dorothy Jemison, Director of Financial Aid)

The Federal Stafford loan process requires that you complete a Free Application for Federal Student Aid (FAFSA) and send it to the U. S. Department of Education. You may pick up a paper FAFSA from any college or university financial aid office or apply on-line at www.fafsa.ed.gov. PLEASE FOLLOW THE DIRECTIONS CAREFULLY. Once your FAFSA is processed, you will receive an output document referred to as the Student Aid Report (SAR). When you receive the SAR, please schedule an appointment with Dorothy for your loan to be processed and certified.

Veterans Benefits (contact the nearest Department of Veterans Affairs)

Cumberland Presbyterian Honor Scholarships (contact Dr. Barry Anderson, Director of Admissions)

Cumberland Presbyterian Service Loans (contact the CP denomination)

African-American Student Academic Scholarship (contact Dr. Barry Anderson, Director of Admissions)

Additional information from the MTS Catalog is listed below. You are also encouraged to seek assistance from your denomination and conduct your own research.

Dorothy B. Jemison

Director of Financial Aid
Office: 901-334-5803
E-mail: djemison@MemphisSeminary.edu

Catalog Information

TUITION BENEFITS/SCHOLARSHIPS/FEDERAL FINANCIAL AID

The following forms of tuition benefits, scholarships, and federal financial aid are available to students enrolled at Memphis Theological Seminary. For additional information on any other external financial resources, please review the "Black Book" in the seminary library.

TUITION BENEFITS

Special tuition reductions are available for the following classifications of students:

• Auditors over 65 years of age
• Cumberland Presbyterian international students seeking a degree to qualify for ordination
• MTS alumni
• Seminary personnel
• Spouses of seminary personnel

VETERANS BENEFITS

Memphis Theological Seminary is approved for persons wishing to study under the provisions for educational benefits for veterans of the U.S. military services. Information regarding benefits available should be obtained directly from the nearest office of the Department of Veterans Affairs. Inquiries regarding assistance by the seminary in processing applications should be addressed to: Registrar, Memphis Theological Seminary, 168 East Parkway South at Union, Memphis, TN 38104-4395.

SCHOLARSHIPS

The list of available scholarships at Memphis Theological Seminary includes the following:

Cumberland Presbyterian Honor Scholarships

Cumberland Presbyterian Honor Scholarships for full tuition may be awarded each year to two students who had an undergraduate cumulative GPA of 3.50 or above on a 4.00 scale and who are enrolled in the Master of Divinity program. The scholarship monies include the 70% service loan allotment. The Honor Scholarship is awarded automatically each semester as long as the student maintains a seminary cumulative GPA of 3.50 or above. Should a student fail to maintain the required GPA, the scholarship will be dropped for the semester immediately following. Should the student regain the required GPA, the scholarship will be reinstated.

Cumberland Presbyterian Service Loans

Cumberland Presbyterian students may apply for financial assistance in the form of service loans for up to 70% of tuition. The note for the service loan contains a stipulation which calls for cancellation of the note after a period of service in the Cumberland Presbyterian Church as set forth in the service loan agreement. An exit interview with a Business Office representative is required prior to graduation. Follow up monitoring will be conducted by the Business Office following graduation on on a semi-annual basis in order to assertain that recipeints are fulfilling their service loan obligation.

Denominational Loans/Scholarships

Many denominations have programs of financial assistance for persons studying for the ministry or other church vocations. Students and prospective students are encouraged to investigate these sources of financial aid. The seminary will assist, if required, in processing applications.

African-American Student Academic Scholarship

African-American students who graduated from undergraduate studies with a cumulative GPA of 3.50 or above on a 4.00 scale, and who are enrolled in nine hours or more in each of the fall and spring semesters and three hours or more in the summer. The scholarship will furnish 40% of tuition costs throughout the program provided the student maintains both MTS semester and cumulative GPAs of 3.00 or above. Should the student fail to maintain the required GPAs and the nine semester hours' enrollment in any one semester, he/she will not be eligible to receive the scholarship funds for the following semester. If the student regains semester and cumulative 3.00 GPAs and the enrollment in the required number of hours, he/she will be eligible for the scholarship in the following semester. Apply to the Director of Admissions.

Henry Logan Starks Scholarships

This scholarship may be awarded each semester to African-American students enrolled in a master's level degree program who have and maintain both semester and cumulative GPAs of 3.00 or higher. Entering students are not eligible in their first semester, but may apply at the appropriate time during the first semester for an award for the second semester through the Director of Financial Aid. Application for the scholarship should be made at the time of pre-registration in November or April. If a 3.00 or better GPA is maintained, the scholarship will be awarded for the following semester. The scholarship will be renewed automatically each semester as long as the student maintains both semester and cumulative GPAs of 3.00 or higher and successfully completes the required 6 hours. Should a student fail to maintain the required GPA, the scholarship will be dropped for the semester immediately following. The student is eligible to be reinstated once both semester and cumulative GPAs are raised to 3.00 or higher.Students who receive the African-American Student Academic Scholarship are not eligible to receive the Henry Logan Starks Scholarship. The application deadline for the Henry Logan Starks Scholarship is the last day of each fall and spring semester for the upcoming semester.

International Scholarships

Limited scholarships of up to 100% are available for international students. The scholarship cannot be continued to a second degree program. The student must be enrolled for nine hours or more of each fall and spring semesters, and three hours or more in the summer. Apply to the Director of Admissions.

OTHER SCHOLARSHIPS

For scholarships below, please apply in writing to the Director of Financial Aid no later that Early Spring Registration. Entering students are eligible to apply for these scholarships after completion of two full semesters (fall and spring) of study at Memphis Theological Seminary. Students are eligible to recieve the following scholarships only once. Students who receive the African American Student Academic Scholarship are not eligible to recieve any of these scholarships. Semester and cumulative grade point averages of 3.00 or higher and enrollment of six semester hours in a degree seeking program are required unless otherwise specified in the information listed below.

The Alston Family Evangelistic Association Endowment Fund

This scholarship is available in one annual disbursement to two African- American students who are preparing for ministry and who demonstrate a financial need.

Bettye and Dick Hendrix Scholarship

This scholarship fund is available for a United Methodist student from Arkansas.

Cardelia Howell-Diamond Scholarship

Cumberland Presbyterian students from Del Cristo Presbytery in Lubbock, Texas may apply for this scholarship.

Dawson Ministerial Scholarship

this scholarship is available to any United Methodist student of the Memphis Annual Conference who is a deacon candidate and has completed at least one year of seminary studies and who meets the criteria of the grant. Details and application are available in the Financial Aid Office. The deadline is May 31.

The Henry Clay and Alfreda Gibbs Buntyn Scholarship

Full-time, degree seeking Christian Methodist Episcopal students are eligible who demonstrates financial need.

Gadsden Area Churches Trust Fund

This scholarship fund is available for a Cumberland Presbyterian student from the Gadsden, Alabama area.

Mary Guice Memorial Endowment Fund

United Methodist students from Mississippi may apply for scholarships from this paritially funded endowment.

Margaret I. Guinn Memorial Fund

This fund assists United Methodist students currently under the guidance of the Board of Mininstry of the Memphis Annual conference.

Mississippi Area Churches Trust Fund

This scholarship is available for a Cumberland Presbyterian student from the former Mississippi Presbytery of the Cumberland Presbyterian Church.

Tri-Mu Bible Class Scholarship

United Methodist students who are being educated to serve as pastors may apply for this scholarship.

The Woosley Scholarship Award

This scholarship is awarded to a Memphis Theological Seminary female student who is currently enrolled in the Master of Divinity or Master of Arts in Religion degree program. The scholarship will be awarded annually in the Spring to a female student who plans to graduate from MTS the following academic year. The female student must have a cumulative Grade Point Average of 3.5 or above, and have demonstrated some form of leadership in her ministry, church or community. The student should forward application and evidence of accomplishment no later than March 15th preceding the student's final academic year to the Director of Financial Aid.

FEDERAL FINANCIAL AID

Loans under the Federal Stafford Subsidized and Unsubsidized Loan Program are available to degree-seeking students who are enrolled in at least six hours per semester. Students make initial application to determine financial eligibility through the Office of Financial Aid.

The U.S. Department of Education (USDE) requires a Statute of Limitations referred to as Quantitative Measure Maximum Timeframe (QMMT) in which students may take advvantage of receiving Federal Student Aid (FSA). The QMMT operates like a clock that continues to run even during periods that a student is not enrolled and during periods that no FSA is received. The clock starts on the very first day of the academic year that a student enrolls at Memphis Theological Seminary (MTS) and it expires/stops at the end of the QMMT. A student may not receive FSA once the QMMT expires/stops. More fully, if a student earns the number of hours required for a degree program that they are enrolled in before the QMMT expires/stops, they will not be eligible to receive FSA for any hours that exceed the degree requirements. For FSA purposes only, each degree offered at MTS has a different QMMT.

Master of Arts in Religion (MAR) Five Years

(NOTE: For students who earn the M.Div degree at MTS and return to earn the M.A.R., their QMMT will be structured based on the number of hours that they are required to complete in their program.).

Master of Divinity (M.Div.) Seven to Eight Years

(NOTE: For students who earn the M.A.R. degree at MTS and return to earn the M.Div, their QMMT will be structured based on the number of hours that they are required to complete in their program.).

Contact the Director of Financial Aid for further Information