There are two types of loans for students: federal loans and private loans. Both loans have competitive rates, so you are encouraged to look into both options to see what is best for you. The financial aid office is more than happy to walk through both options with you! 

If you are looking to take out a federal loan, you will need to be at least half-time.

Applying for a Federal Loan

Applying for student loans may seem daunting. However, with our step-by-step guide, you won't miss a beat -- and you'll have the process done before you know it!

Step 1: Please review the Department of Education’s website to learn about the different types of loans, how much to borrow, how to manage your loan and repay successfully, and the consequences of default.

Step 2: Complete the Westminster Theological Seminary Loan Request Form online. Students can receive a maximum of $20,500 per academic year in Direct Unsubsidized loans from the government.

Step 3: Complete the Free Application for Federal Student Aid online.
Please note that you will use tax information for two years prior to the academic year you are applying for (for the 22-23 FAFSA, please use the 2020 tax data) at present.

Step 4: Submit tax information in one of three ways:

  1. Electronically transfer your filed Federal Tax Return information to the FAFSA using the IRS Data Retrieval Tool online; OR

  2. Submit a Tax Return Transcript obtainable from the IRS’ Get Transcript website; OR

  3. If you did not file taxes for that appropriate year, please submit a Verification of Non-Tax Filing to the Financial Aid Office. 

Step 5: If this is your first time receiving or applying for a loan with Westminster, please complete a Master Promissory Note for your specific loan:

  1. Direct Unsubsidized Loan: Complete the Master Promissory Note for Direct Loans.

  2. GraduatePLUS Loan borrowers: Complete the Master Promissory Note for GraduatePLUS Loans if you are seeking additional loan funds in excess of the total amount allowable from a Direct Unsubsidized loan.

Step 6: If this is your first time receiving or applying for a loan with Westminster, please complete Entrance Counseling online.

Step 8: After completing all of the steps above, the Financial Aid team will process your request and notify you to visit your Populi Financial page to view the loan(s) offered and accept or change the amount. 

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