Claremont School of Theology strives to make theological education affordable through its financial aid program. Claremont provides aid in three ways: scholarships, loans and employment opportunities. These funds should supplement your efforts to finance your education, as Claremont cannot take primary responsibility for your financial needs.
Please note: When filing your FAFSA you will be asked if you would like your taxes attached to your FAFSA using the IRS Data Retrieval System. It is suggested that you attach them in order to reduce the chances of being chosen for verification. If you are chosen for verification, you will need to submit to the IRS a request for a Tax Transcript. This could delay processing Financial Aid.
- Be a U.S. citizen or an eligible non-citizen;
- Be working toward a degree;
- Be registered with Selective Service;
- Be making satisfactory academic progress;
- Not be in default or owe a refund on a federal grant or federal loan;
- Be enrolled at least half-time (6 units per semester);
- Not have loans in excess of the aggregate limits of the aid programs;
- Not be disqualified based on a conviction for a drug-related offense while you were enrolled in school and receiving federal student aid
For determining the percentage of Title IV aid to be returned to the DOE, the number of calendar days remaining in the semester is divided by the number of calendar days in the semester. Schedule class breaks of five consecutive days are excluded. If a student withdraws after the 60% point in the semester, the student will have earned all of their financial aid and there will be no liability by the student or CST.
Type of Title IV financial aid included in Title IV refunds are the Federal Direct Student Loans for Graduate/Professional Students. Refunds are allocated in the following order: Unsubsidized Federal Stafford Loan and Federal (PLUS) Loan. Online Return of Title IV (R2T4) Worksheets are used to determine the amount of the refund of Title IV aid. Worksheets are available upon request from the Financial Aid Office.
There are a multitude of scholarships available for students willing to do the research. We’ve listed here some helpful websites and a list of scholarship opportunities that match many in our student body. Every scholarship reduces student debt, and many scholarships go unused every year. We encourage students to research every opportunity available and counsel students to consider the following:
- Actively and earnestly search and apply for private scholarships
- Inquire about scholarships within communities – religious, organizational, denominational, etc.
- Never pay to apply for scholarships
- Seek essay writing assistance from our writing center
- Find reliable, capable and conscientious people to write letters of recommendation
Funds secured from outside Claremont School of Theology are applied directly to student’s accounts upon receipt of appropriate documentation. This includes a letter indicating the recipient’s name, the value of the scholarship in US dollars, the time frame the scholarship is available, as well as any other pertinent terms governing the allocation and distribution of the funds.
Religious Community Scholarships
Students are encouraged to contact their religious communities for potential scholarships. Oftentimes, local churches, mosques and temples support students through special offerings, discretionary funds, and book grants. Additionally, students should explore scholarship opportunities beyond their local congregations – including district, conference, and national offices. Listed here are websites that may help students get started.
Evangelical Lutheran Church in America
Ethnic Student Scholarships
Students are encouraged to search for scholarships within multiple community affiliations. The list below is provided according to assist students in getting started. It is in no way intended to be exhaustive.
Financial Aid Awards
The funds outlined in your Financial Aid Award letter are based on your enrollment. If you register for fewer than 12 units or receive additional funding from outside sources, the financial aid award will be adjusted. The number of units in which a student is enrolled on the day following the published last day to add or drop a class will be used as the official enrollment date for financial aid purposes.
It is important to note that the amount of financial aid awarded may not exceed the cost of attendance. A revised financial aid award letter will be available to you each time any changes occur to your financial aid award. It is not uncommon for students to receive multiple award letters throughout the academic year. All notifications of a revised award letter will be posted on the student portal.
Eligibility for Institutional Aid is determined at the time of admission and is based on your application materials and availability of funds. Scholarship letters are provided to students prior to enrollment that describes their award/scholarship and renewal requirements. Copies of the scholarship letters are kept in the financial aid office. To retain all scholarships, students must have and maintain a Satisfactory Academic Progress (2.8 for M.A., 3.0 for Ph.D.). The following are the non-need, merit-based scholarships you may have been awarded:
- Trustees Award includes:
- Tuition and fees
- A one-bedroom on-campus apartment.
- Presidential Award
- Deans Award
- Claremont Scholarship
Direct Unsubsidized Loans are loans made to eligible graduate, and professional students, but in this case, the student does not have to demonstrate financial need to be eligible for the loan.
The Federal Direct Loan (Direct Loan) Program is the largest federal student loan program. Under this program, the U.S. Department of Education is your lender. The loans available to graduate and professional students are the Direct Unsubsidized Loan and the Grad PLUS Loan.
- Current 2014-2015 Fixed Interest Rate is 5.84%
- Annual Loan Limit is $20,500.
- Aggregate Loan Limit is $138,000
- Current 2014-2015 Fixed Interest Rate is 6.84%
- Annual Loan Limit is up to cost of attendance minus financial aid awarded
- Grad PLUS Loan does not have an aggregate limit
- a) Direct Unsubsidized Loan: Complete a Master Promissory Note (MPN) and Entrance Counseling on studentloans.gov. Log in to www.studentloans.gov to check the status of your MPN and other necessary documentation.
- b) Direct Grad PLUS Loan: To apply, log in to studentloans.gov. When you apply for a Direct PLUS Loan, the Department will check your credit history. To be eligible to receive a PLUS Loan, you must not have an adverse credit history. If you are determined to have an adverse credit history, you may still receive a Direct PLUS Loan if you obtain an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the Direct PLUS Loan if you do not repay the loan. In some cases, you may also be able to obtain a Direct PLUS Loan if you document to their satisfaction that there are extenuating circumstances related to your adverse credit history. After you apply, within 48 hours you will receive a credit check correspondence letter approving or denying your loan.
You must provide a copy of the credit check letter to the Office of Financial Aid. The credit check is good for 180 days.
Forms for current students are now available under the Financial Aid section of the CST Resources page.
Links and Resources
- Free Application for Federal Student Aid – Apply on line for Federal Student Aid
- Entrance Loan Counseling
- Exit Loan Counseling
- National Student Loan Data System – Access your federal Student loan records
- Social Security Administration
- Selective Service
- Internal Revenue Services
- Student Loan Interest Rates