Financial Aid

Catalog

Principles

The financial aid program at Bethel Seminary is designed to assist students who have limited resources and to aid students in financial planning for their seminary education. It is hoped that each student will be able to work out a financial plan that avoids undue financial pressure, excessive employment, or unmanageable indebtedness. The student is responsible for his or her educational and living expenses. However, the seminary seeks to assist the student in meeting expenses through a combination of grants, scholarships, loans, and employment.

The financial aid program is based on the following principles, which have been approved by the Association of Theological Schools:

The primary purpose of a financial aid program for theological students is to assist in their educational preparation for church occupations and to make possible the enrollment of promising candidates by providing assistance to students who demonstrate financial need.
Financial need is defined as the difference between the total cost of attending seminary and the amount of the resources available to the student.
Financial assistance consists of grants-in-aid, loans, employment, and scholarships.
The family of a student, whether the student is unmarried or married, is expected to make every reasonable effort to assist the student with his or her educational expenses.
Students are expected to provide a major share of their expenses through savings and other assets or through work where feasible.
In the case of a married student with no children, the spouse who has completed formal education normally is expected to be gainfully employed. The spouse’s total earnings are to be considered as a part of the total family income. Because of the importance of this source of income, student couples who hope for financial aid should not normally anticipate that increased aid will offset loss of income resulting from having children.
The student’s home church is encouraged to assist with the costs of preparation for the ministry in cases where the student demonstrates financial need.
Financial assistance is granted on the basis of need on a year-to-year basis, with reapplication and review each year.
In cases where a student receives outside aid in the form of grants, scholarships, or other awards, the seminary reserves the right to adjust Bethel’s gift aid so that the total award does not exceed the student’s tuition charges.

Sources of Financial Aid

Sources of financial aid include gift aid from Bethel in the form of grants and/or scholarships; Federal Stafford Loans, both subsidized and unsubsidized; employment on or off campus; denominational and/or local church grants; and military benefits.

Applying for Financial Aid

To apply for financial aid at Bethel Seminary, a student must submit both the Free Application for Federal Student Aid (FAFSA) and the Bethel University Financial Aid Application. The FAFSA, which serves to assess financial need, is available on the web (www.fafsa.ed.gov). The Bethel University Financial Aid Application is available from the Office of University Financial Aid or on the web (www.bethel.edu/finaid/sem). The results of both forms will indicate eligibility for most types of financial aid, including grants and student loans. Students applying for endowed and restricted scholarships will need to complete an additional online application.

Information on financial aid application forms is available through the Office of University Financial Aid or online at www.bethel.edu/finaid/sem.

International Student Grants

Certain funds are available to aid qualified foreign students who would like to study at Bethel and who show potential for Christian leadership in their own countries. The university does not assume responsibility for expenses incurred for travel, vacation periods, or family obligations. Grants are given for one year but are renewable upon evidence of satisfactory adjustment and progress, and if continued study is clearly indicated in terms of the purposes of the program. Application is made through the Office of Seminary Admissions and Recruitment.

Student Loan Funds

Federal Stafford Loans are available to assist post-secondary education students in obtaining low-cost loans for educational expenses. A qualified graduate student may borrow up to $8,500 per academic year in a subsidized loan. Additional amounts are available in an unsubsidized loan. The interest rate for these loans will vary according to existing regulations. Bethel recommends that students not accumulate sizable loans during their seminary education.

The Seminary Emergency Loan Fund is available to qualified students on a non-interest-bearing basis for the term of the loan. The generous gift of a friend of the seminary has made this loan fund possible. Loans will be limited to a maximum of $500 to any one student at one time. For each loan the borrower will sign a promissory note payable to Bethel University. A minimum fee of $1 will be charged for any amount under $100. For any amount over $100, there will be a charge of $1 per $100 per month. The maximum length of the loan period is 120 days. Loans generally are not open to students during their first quarter of residency, and are for emergencies only.

Additional information pertaining to financial assistance is available from the Office of University Financial Aid or online at www.bethel.edu/finaid/sem.

Assistantships

A limited number of assistantships are open to students with good academic records. Each student works under the supervision of one or more faculty members. Students should contact individual faculty members directly to inquire about potential opportunities.

Financial Aid Satisfactory Academic Progress Policy

Federal regulations require that all financial aid recipients progress at a reasonable rate (“make satisfactory progress”) toward achieving a certificate or degree. This requirement applies to all terms regardless of whether or not the student received financial aid. Progress is reviewed annually, after the spring quarter. Progress is measured by the student’s cumulative grade point average, credits earned in relation to those attempted, and the maximum time frame allowed to complete the academic program.

Cumulative Grade Point Average: Students who are not meeting the cumulative grade point standards as defined by the Registrar’s Academic Progress, Probation, and Dismissal Policy will be placed on financial aid probation. A cumulative GPA of 2.0 is required to maintain satisfactory academic progress.
Cumulative credits earned: Each student must complete the minimum percentage of cumulative attempted credits. The minimum percentage is 66.67. For example, a student who has attempted 24 credits but only completed 12 has reached a percentage of 50 percent and is therefore not making satisfactory academic progress.
Maximum time frame: Students must complete their degree in a maximum of 216 attempted credits (M.Div.) or 144 attempted credits (M.A.). Students are no longer eligible to receive financial aid after they have reached these maximums. For example: If a student has already attempted 208 credits, the student will only be eligible for federal aid for an additional eight credits.

Earned credits, for purposes of this policy, are those in which the student earns a grade of A, A-, B+, B, B-, C+, C, C-, D+, D or P. (Maximum allowable credits graded under the “P” option are defined by the registrar.)

Financial Aid Probation and Termination

Students who do not meet the above standards of satisfactory progress at the end of the academic year (spring quarter) will automatically be placed on financial aid probation for the following academic year. Financial aid may still be received during the probation period. At the end of the probation period, the student must again be making satisfactory academic progress as outlined above or financial aid will be terminated. Students will be removed from financial aid probation if they are again making satisfactory academic progress. Students who are academically dismissed (and not reinstated on appeal) by the Office of the Registrar are immediately terminated from financial aid without a probation period.

Appeals

Students who fail to meet satisfactory academic progress standards and lose financial aid eligibility can appeal this decision. The appeal must be made in writing and should be accompanied by appropriate supporting documentation. Appeals should be submitted to the Office of University Financial Aid and will be evaluated by the Financial Aid Committee. Acceptable reasons for appeal include injury or illness of the student, illness or death of an immediate relative of the student, or other extenuating circumstances beyond the student’s control.

Re-establishing Financial Aid Eligibility

Students who have had their financial aid terminated due to lack of satisfactory academic progress may choose to enroll without benefit of financial aid. Such students may request a review of their academic record after any term in which they are enrolled without the receipt of financial aid to determine whether they have met the satisfactory academic progress standards. If the standards are met, financial aid eligibility is restored for subsequent terms of enrollment. Students should consult with a financial aid counselor in the Office of University Financial Aid if they have any questions about this policy, the appeal process, or reinstatement of financial aid eligibility.

Financial Aid Refunds

There are four sources of financial aid: Federal Government (Title IV funds), State Governments, Bethel University, and private third-party organizations (i.e., Dollars for Scholars). Financial aid is refunded in accordance with policies established by each entity. Refunds are first calculated for federal funds, then state funds, then Bethel/third-party funds.

Federal (Return of Title IV Funds) Refund Policy.
If a student withdraws or is expelled from Bethel after a term has begun, the school or the student may be required to return some of the federal aid funds awarded to the student. This “Return of Title IV Funds” policy is required by federal rules and went into effect at Bethel on July 1, 2000.

The federal formula requires a return of Title IV (federal) aid if the student received federal financial assistance in the form of a Pell Grant, Supplemental Educational Opportunity Grant, Stafford Loan, or PLUS Loan and withdrew on or before completing 60 percent of the term. The percentage of Title IV aid to be returned is equal to the number of days remaining in the term divided by the number of calendar days in the term. Scheduled breaks of more than four consecutive days are excluded.
Financial Aid Refunds for Institutional and Third-Party Funds.
After calculating the federal refund policy, Bethel calculates the potential refunds of state, institutional, and private funds. Students who borrow a Minnesota SELF loan are subject to the Minnesota refund calculation. Students with institutional aid and/or third-party sources of gift aid will have their aid reduced by the same percent as their tuition was reduced.

Sample Refund Calculation.
Because there are several different refund policies involved in most withdrawals, students may still owe money to the school after all calculations are completed. Students considering withdrawal are encouraged to visit a financial aid counselor and simulate the financial effect of withdrawing before officially withdrawing from the university.

Suppose a student is enrolled for 12 credits and withdraws from all classes after completing 30 days of a 69-day quarter. This student borrowed excess Stafford loan to use for living expenses, and received a check for $2,390 prior to withdrawing. Sample charges and financial aid are listed below. After applying all the refund calculations, this student will owe Bethel $1,951, and will owe $2,609 in Stafford Loans ($6,000 loan minus $3,391 refund to lender = $2,609).

	Account Activity	Running Balance
Refund Calculation Summary
Tuition	$3,600
Student Activity Fee	$10
Total Charges	$3,610	$3,610
Stafford Loan posted Oct. 10	$(6,000)	$(2,390)
Credit refunded to student Oct. 17	$2,390	$ -
Student withdrew from all classes Oct. 26
Tuition Refund—40% (Oct. 26)	$(1,440)	$(1,440)
Stafford Loan Refunded to Lender (Nov. 2)	$3,391	$1,951

Follow this link for a list of available institutional grants and scholarships and other scholarships.
Follow this link for the Bethel University Office of Financial Aid .

The Bethel Seminary Catalog is provided online as a convenience for those who desire course information in electronic form. The printed version of the Bethel Seminary catalog is the official version, and it will be treated as the document of record in all seminary business.