SVDP’s Financial Aid Office coordinates the Direct Loan program, which is available for both the M.Div. and MATS programs. To apply for this program, a financial statement must be submitted and a needs analysis is made by the Federal Student Aid Processor (FAFSA). To qualify for a student loan, a student must be enrolled on at least a half-time basis. For more information on applying for financial aid at SVDP contact the Director of Financial Aid, Mr. Art Quinn, at email@example.com.
Students new to the Direct Loan program must complete entrance counseling and a promissory note at www.studentloans.gov. Repayment of loans begins six months after graduation, withdrawal or dropping below half time. Students who graduate or withdraw must complete exit counseling at www.nslds.ed.gov. Failure to complete this requirement can delay federal aid requested from a school attended after leaving SVDP.
Because financial aid for students in the M.Div. program is usually provided through the vocations office of their respective dioceses, the seminary recommends that students in the M.Div. program receive counseling from their Ordinary, Vocation Director or the Rector prior to applying for a student loan. The seminary also recommends that M.Div. students not apply for loans exceeding $4,000 per academic year, bearing in mind the earning potential of a diocesan priest and his ability to repay.
Information on other sources of financial aid is available at the Financial Aid Office.