Financial Aid

MASTER'S PROGRAMS 

Since its inception, the seminary has been concerned with partnering with students by providing opportunities for financial assistance as they prepare for ministry. Seminary Administration, with the approval of the Board of Directors, has established two agencies to represent it in the administration of financial aid to students. They are the Financial Aid Office and the Financial Aid Committee.

Degree-seeking students are eligible to apply for seminary scholarships, outside scholarships, federal work study, federal loans, and alternative loans if needed. Non-degree-seeking students may apply for seminary scholarships, outside scholarships, and alternative loans. Students who do not have U.S. citizenship or Permanent Resident status may apply for Seminary scholarships, outside scholarships, and private/non-federal loans.

Prospective students must be accepted for admission to the Seminary to be eligible for financial aid. Students applying for financial assistance, including loans and scholarships, do so by completing the financial aid process. Steps to apply will be sent to applicants once they begin the admission process.

Each person applying for financial aid at the seminary should apply after January 1 and before the priority deadline of April 30 for returning students, or June 15 for new students in order to receive priority consideration for the following Fall and Spring semesters. All financial aid is awarded for one academic year. Students must reapply for financial aid each academic year. Financial assistance is not automatically renewed.

A student wishing to receive financial aid must first submit a Free Application for Federal Student Aid (FAFSA) and a Pentecostal Theological Seminary Application for Financial Aid to the Financial Aid Office (both forms are available through the seminary's website and the student portal Forms page). This constitutes the student's formal request to the seminary for financial assistance. Students must be enrolled full time to be eligible for most scholarships, with the exception of the New Incoming Scholarship, Care Ministry Scholarship, Spousal Scholarship, College Senior Scholarship, Alumni Scholarship, State Overseer Scholarship, and Honors Ministry Scholarship. For financial aid purposes, full-time enrollment is 9 credit hours during regular semesters (Fall and Spring) and 6 credit hours in the summer J-terms. Half-time enrollment is 4.5 - 8 credit hours during the regular semester (Fall and Spring) or 3 hours for Summer or January terms. Students must be at least half-time to be eligible for Federal Student loans. Students are eligible for one scholarship per semester with the exception of a special incentive scholarship that may be offered for one semester only.

FEDERAL LOAN PROGRAMS

The federal loan programs are available to PTS students. To be eligible, a student must be a U.S. citizen, U.S. national or an eligible non-citizen. Students must also be in compliance with the Selective Service, must not be in default on any federal loans and students must be eligible for Title IV programs. To apply for federal loans, students must complete a Master's Promissory Note (MPN) and Entrance Counseling at www.studentaid.gov. Students must also complete a loan request form and submit to the Financial Aid Office: finaid@ptseminary.edu.

FAFSA FORM

The basis of determining the need of a student will be an analysis provided by the Student Aid Report (SAR) based on the information submitted by the student on the Free Application for Federal Student Aid (FAFSA) as distributed by the U.S. Department of Education online at https://studentaid.gov/h/apply-for-aid/fafsa. Students without a current Federal Student Aid (FSA) ID number will need to apply for one at https://studentaid.gov/h/apply-for-aid/fafsa . The FSA ID number is needed to sign your FAFSA or your Master's Promissory Note (MPN) and/or access other federal websites regarding federal aid. Steps to apply for financial aid will be sent to the applicant once he or she begins the admission process. All students can view the steps to apply for financial aid in the Populi system (under Forms), request a copy at finaid@ptseminary.edu or access them through the school's website at www.ptseminary.edu under Financial Aid.

FINANCIAL AID PROGRAMS: FINANCING YOUR EDUCATION

PTS is especially sensitive to the financial challenges students face today when seeking ways to finance graduate education for master's programs. Fundraising by the seminary to increase the number of scholarships continues to be a priority at PTS.

Most students are financing their programs through personal savings, employment, church support, loans and scholarships.

PTS encourages careful planning and stands ready to assist students in identifying all possible financial resources. The process begins by completing and returning the appropriate forms to PTS for financial aid and scholarships.

To have financial aid available for the first day of registration, deadlines have been established for submitting all documents necessary to process financial aid. The student should be sure to check the calendar or call the financial aid office so that he or she will not miss the deadlines established for fall, spring and summer courses.

All federal aid is awarded without regard to race, gender, handicap, age, class or national/ethnic origin. The amount of Seminary funds awarded are subject to scholarship criteria and/or need, and availability of funds. 

Master's Degree Program Scholarships

Students applying for financial assistance, including loans and scholarships, do so by completing the financial aid process which includes completion of the Free Application for Federal Student Aid (FAFSA), the Seminary's Application for Financial Aid, and the letter of thanks to the donor. If applying for an academic scholarship, see additional requirements listed below the scholarship. Steps to apply may be found in this link: https://www.ptseminary.edu/pt-seminary-masters-financial-aid-steps.php

Students are encouraged to contact the Seminary’s Financial Aid Office to verify that all financial aid paperwork has been received at finaid@ptseminary.edu. Scholarships are applied toward tuition costs only. All fees (registration, technology, application and other related fees) are the student’s responsibility. A maximum of one scholarship may be granted per term/semester. 

Degree-seeking students are eligible to apply for seminary scholarships, outside scholarships, federal work-study, federal loans, and alternative loans if needed. Non-degree-seeking students may apply for seminary scholarships, outside scholarships, and alternative loans. Prospective students must be accepted for admission to the seminary to be eligible for financial aid.

Students who do not have U.S. citizenship or Permanent Resident status do not have to complete the Free Application for Federal Student Aid (FAFSA). Students who do not have U.S. citizenship or Permanent Resident status may apply for seminary scholarships, outside scholarships, and private/non-federal loans by completing the Seminary's Application for Financial Aid, and the letter of thanks to the donor.

*These scholarships  do not apply to Master’s students in a cohort.

Seminary Presidential Scholarship: The Presidential Scholarship is reserved for those students who demonstrate outstanding academic excellence and leadership accomplishment. This scholarship is limited to two full tuition scholarships per student with a preferred minimum cumulative GPA of 3.5. The Scholarship is awarded for one academic year; however, students may re-apply for the scholarship each academic year. Student applicants must be enrolled full time (nine credit hours or more) during the regular fall and spring semesters to be eligible for the scholarship. Preference will be given to applicants enrolled on-campus and new incoming students. Students should email finaid@ptseminary.edu to receive the application and additional requirements to apply for this scholarship. 

Academic Excellence Scholarship: The Academic Excellence Scholarship is reserved for those students who demonstrate academic excellence. This scholarship is limited to two scholarships pf $10,000 (maximum for tuition only) per student with a minimum cumulative GPA of 3.5. The scholarship is awarded for one academic year, however, students may re-apply for the scholarship each academic year. Student applicants must be enrolled full time (nine credit hours or more) during the regular fall and spring semesters to be eligible for the scholarship. Preference will be given to student applicants enrolled on-campus and new incoming students. Students should email finaid@ptseminary.edu to receive the application and additional requirements to apply for this scholarship.

Academic Scholarships for First Year Students: Two academic scholarships of $4,000 per student are awarded to first-year students who graduate in the current year from a Church of God college or university. The president of the institution should make a recommendation for this scholarship (by letter) to the Seminary's Financial Aid Office. A student must have a minimum undergraduate GPA of 3.5 and must be enrolled full time (9 credit hours or more) during the regular Fall and Spring semesters to be eligible for this scholarship.

New Incoming Academic Scholarships: Four academic scholarships of $4,000 per student are awarded to four first-year students with a graduating undergraduate cumulative GPA of 3.5 or higher.  Students must be enrolled full time (9 credit hours or more) during the regular Fall or Spring semester to be eligible for this scholarship.

Academic Scholarships for Second and Third Year Students: Two academic scholarships are awarded to students who have completed their first year of seminary study. Recipients must have a minimum GPA of 3.5 in order to qualify. Students must also demonstrate leadership, spiritual maturity, and submit recommendations from two professors. The amount available for any given student is $4,000 per year. Students must be enrolled full time (9 credit hours or more) during the regular Fall or Spring semester to be eligible for this scholarship. 

PTS Ministry Honors Scholarship: This scholarship is awarded (July 1 through June 30) to individuals based on the recommendations of participating Church of God State Administrative Bishops. Candidates should be persons of ministerial integrity and leadership promise. Recipients must agree to register for a minimum of 12 credit hours (main campus or online) during the student's first year of enrollment. This is a first year scholarship only. The scholarship will cover up to 50% of 6 credit hours per semester not to exceed $3,000. Preference will be given to students from an ethnic minority.  

New Incoming First Year Scholarship: First year, first-time students attending the Seminary may apply for a $2,500 scholarship.  Students must be enrolled full time (9 credit hours or more) during the regular Fall and Spring semesters and complete all required documents to be eligible for this scholarship. 

Endowed Scholarships: Endowed scholarship funds have been established at the Seminary by many contributors. The endowment amount available for scholarships varies according to the size of the endowment. Eligibility varies according to scholarship criteria. Students must be enrolled full-time (9 credit hours or more) during the regular Fall and Spring semesters to be eligible for this scholarship.

Care Ministry Scholarship: Ministers employed as full time staff at a church may apply for the Care Ministry Scholarship. Maximum award of $2,000 per academic year (July 1-June 30) and will be prorated per semester when enrolled less than 6 hours.  

Larry and Helen Owens Chaplaincy Scholarship: Applicants must be enrolled as full-time students  in programs of study for military ministry/chaplaincy. Two scholarships of up to $2,000 will be granted. Major consideration will be given to past and potential academic performance and to the financial need of the applicants.  Students must be enrolled full time (9 credit hours or more) during the regular Fall and Spring semesters to be eligible for this scholarship.

*Scholarships are available as funds permit.

Master's Degree Program Tuition Assistance Scholarships

The following tuition assistance scholarships are available for the Pentecostal Theological Seminary students. One scholarship per semester per student will be granted. Applicants must be in good financial standing with the Seminary and must submit a FAFSA, Application for Financial Aid, and a letter of thanks to the donor and forward this information to the Financial Aid Office by the April 30th deadline. These scholarships cannot be used in conjunction with any other PTS scholarship. All tuition scholarships are applied to resident and online programs .

Student Spouse: A spouse of a full-time student (9 or more credit hours per full-time semester) may apply for a 50% scholarship (up to 6 credit hours per semester). The scholarship will be applied to the spouse enrolled in the lesser number of credit hours.

College Seniors: College seniors in the final semester of their undergraduate degree may apply for a 100% tuition scholarship toward their first  course taken at the seminary and a 25% scholarship on each subsequent course (up to 9 credit hours) while concurrently enrolled.  The 25% scholarship can be received for the same semester they receive the College Senior Scholarship (final semester at undergraduate degree).   (Total credit hours enrolled at both institutions cannot exceed 16 credit hours.) This scholarship covers tuition only. The student is responsible for fees.

PTS Certificate's Alumni Scholarship: Seminary Certificate alumni are eligible for a $500 Scholarship during their first year at PTS. This scholarship cannot be combined with any other scholarship, but can be used in a Summer or January Term or other term where no scholarship is awarded.

PTS Master's Alumni Scholarship: Seminary alumni are eligible for one free audit course or 50% off one for-credit course per academic year in the master's program. Scholarships are applied toward tuition only. The student is responsible for fees.

Church of God State Administrative Bishop, Youth Director, or State Evangelism Director Scholarship: Full-time Church of God State Administrative Bishops, State Youth Directors, and State Evangelism Directors may apply for one free course per academic year toward the Master’s program (July-June). Scholarships are applied towards tuition only. The student is responsible for fees. Students should email finaid@ptseminary.edu to receive the application forms to apply for this scholarship  . 

Mission America Pastor Fund: A Senior Pastor at a Church of God church can receive sponsorship for seminary tuition. The contributing church may receive World Missions sponsorship credit for monies designated to the senior pastor who is attending the Seminary. Churches sending funds to the Seminary Business Office should designate Mission America Project #8000023 "Pentecostal Training" and indicate the name of the senior pastor to be funded. Contact srichie@ptseminary.edu for more information. 

Doctoral Degree Program Scholarships

Students applying for financial assistance, including loans and scholarships, do so by completing the financial aid process which includes the completion of the Free Application for Federal Student Aid (FAFSA), the Seminary's Application for Financial Aid, and the letter of thanks to the donor. Steps to apply may be found at this link: https://docs.google.com/https://www.ptseminary.edu/pt-seminary-dmin-financial-aid-steps.php/d/e/1FAIpQLSfbuY1SvAqdc6ofwzwK2OSab7HFAgDyUX00omnc2LpboCWe9Q/viewform

Students are encouraged to contact the Seminary’s Financial Aid Office to verify that all financial aid paperwork has been received at finaid@ptseminary.edu.  Students may also view this information in their PTS Student Portal. Scholarships are applied toward tuition costs only. All fees (registration, technology, application and other related fees) are the student’s responsibility. A maximum of one scholarship may be granted per term/semester.  

Degree-seeking students are eligible to apply for Seminary scholarships, outside scholarships, federal work-study, federal loans, and alternative loans if needed. Non-degree-seeking students may apply for Seminary scholarships, outside scholarships, and alternative loans. Prospective students must be accepted for admission to the Seminary to be eligible for financial aid.

Students who do not have U.S. citizenship or Permanent Resident status do not have to complete the Free Application for Federal Student Aid (FAFSA). Students who do not have U.S. citizenship or Permanent Resident status may apply for Seminary scholarships, outside scholarships, and private/non-federal loans by completing the Seminary's Application for Financial Aid, and the letter of thanks to the donor.

Students may qualify for one of the following awards per academic year. Students can receive one award per academic year. An exception is the Overseer/Youth Director award which can be used in the same academic year but not in the same term/semester as another award. 

*The following scholarships do not apply to D. Min. students in a cohort.

D. Min. PTS Pastoral Alumni Scholarship:  Seminary graduate alumni (pastoring during their terms of study) are eligible  to apply for a scholarship of $1,695 per year  while they are enrolled in the D. Min program (maximum of $847.50 per term).

D. Min. PTS Alumni Scholarship: Seminary graduate alumni are eligible for a 50% tuition scholarship on a 3-credit hour course per academic year or one free audit course per year (July 1 – June 30).

D. Min. Pastoral  Non-Alumni Scholarship: Students attending  PTS in the Doctor of Ministry program that did not graduate with a Master's degree from PTS,  and who are pastoring during their terms of study may apply for this scholarship of $1,000 (maximum of $500 per term).

D. Min. Non-Alumni Scholarship:  Students attending PTS in the Doctor of Ministry program that did not graduate with a Master's degree from PTS may apply for this $500 scholarship. This scholarship is awarded once per academic year. 

Church of God State Administrative Bishop, Youth Director, or State Evangelism Director Scholarship: Full-time Church of God State Administrative Bishops, State Youth Directors, and State Evangelism Directors may apply for one free course per academic year toward the Doctoral program (July-June). Scholarships are applied towards tuition only. The student is responsible for fees. Students should email finaid@ptseminary.edu to receive the application forms to apply for this scholarship. .

Mission America Pastor Fund: A Senior Pastor at a Church of God church can receive sponsorship for seminary tuition. The contributing church may receive World Missions sponsorship credit for monies designated to the senior pastor who is attending the Seminary. Churches sending funds to the Seminary Business Office should designate Mission America Project #8000023 "Pentecostal Training" and indicate the name of the senior pastor to be funded. Contact srichie@ptseminary.edu for more information .

Work-Study Program

The Federal Work-Study program (FWS) is subsidized by federal funds and provides employment for U.S. citizens and Permanent Residents to aid in furthering their education. The student must demonstrate financial need, as indicated by FAFSA/SAR analysis, to be eligible to work in the FWS program. The amount awarded depends on financial need calculated and availability of federal funds granted to PTS. The participant works an average of 10 hours per week at the current established rate. (The PTS Business Office maintains the current rate.) Students receiving FWS funds are assigned jobs on the basis of the needs of the Seminary and the abilities and skills of the student applicant. 

The Seminary's Graduate Assistant/Federal Work-Study assignment process is as follows:

The student submits an application for a graduate work-study position through the forms page found on the student's Populi homepage. The student will select the Work-Study Application, complete it and email it to the Director of Human Resources at jterpstra@ptseminary.edu. 

The student completes the FAFSA and the Seminary’s Application for Financial Aid by the priority deadline. (The Financial Aid Office will send the names of eligible candidates to the Office of Human Resources.)

Upon reviewing the applications, Human Resources in conjunction with the Office of the Vice President for Academics will make the assignments. In consultation with supervisors, the Director of Human Resources will arrange work-study placement in a position related to the student's course of study, when such an opening is available. Supervisors may request an interview with the work-study student applicant. 

Vocational Rehabilitation Benefits

Students should contact their local office of Vocational Rehabilitation Department of Human Services in the state where they reside, to see if they qualify for any educational assistance. Once approved, please call us at: rsluder@ptseminary.edu or 423-478-7727 and we will be glad to assist in processing your paperwork.

Veteran's Benefits

The Seminary is approved for the training of veterans and other eligible persons under the terms of the veterans education benefits. Veterans may apply for benefits or learn more by going to the Office of Veterans Administration (www.gibill.va.gov). The Financial Aid Office will help qualified applicants file the proper forms to apply for these benefits. For more information, email rsluder@ptseminary.edu or call 423-478-7727.

9/11 GI Bill ®(VA)  

Veterans serving after September 11, 2001 may apply for the 9/11 GI BILL® (VA). Students approved for these benefits are eligible for funding up to $26,381.37 per academic year at a private school based on VA approval and eligibility criteria and percentage of benefits as approved by the Veteran's Administration. Students should log on to www.gibill.va.gov to apply for 9/11 GI Bill® (VA),  approval or read more about other VA programs. Once approved, students should submit a copy of their VA Certificate of Eligibility and DD214 to the Financial Aid Office as soon as possible. Students must also request in writing that their VA entitlement be used for that year. Application entry dates are based on the date the Certificate of Eligibility is submitted to the Financial Aid Office. Students are to submit all documentation to the Director of Financial Aid at; rsluder@ptseminary.edu.

New important enrollment verification according to VA, after December 17th, 2021, 9/11 GI Bill® (VA), students who receive Monthly Housing Allowance (MHA) and/or kicker payments are required to verify their enrollment to continue receiving their payments. Read below to learn more about the enrollment verification requirement and verification methods. This is a very important process. If you do not complete this process, your VA funding will not be processed through VA. Please review the new process and make note that this is a monthly requirement for all terms.

https://benefits.va.gov/gibill/isaksonroe/verification_of_enrollment.asp

For more information, logon to the VA website at www.gibill.va.gov or call 1-888-442-4551 .   

Veteran's PTS Policy

To ensure receipt of the appropriate benefits, students who qualify for educational assistance under Title 38, U.S. Code, Chapter 31, Vocational Rehabilitation and Employment, Chapter 33, or 9/11 GI Bill® (VA), benefits must complete the necessary paperwork with the Financial Aid Office. This should be submitted no later than the first day of class. 

Any covered individual will be able to attend or participate in the course of education during the period beginning on the date on which the individual provides to the educational institution a certificate of eligibility for entitlement to educational assistance under chapter 31 or 33 (a “certificate of eligibility” can also include a “Statement of Benefits” obtained from the Department of Veterans Affairs’ (VA) website – eBenefits, or a VAF 28-1905 form for chapter 31 authorization purposes) and ending on the earlier of the following dates:

1. The date on which payment from VA is made to the institution.

2. 90 days after the date the institution certified tuition and fees following the receipt of the certificate of eligibility. 

Pentecostal Theological Seminary will not impose any penalty, including the assessment of late fees, the denial of access to classes, libraries, or other institutional facilities, or the requirement that a covered individual borrow additional funds, on any covered individual because of the individual’s inability to meet his or her financial obligations to the institution due to the delayed disbursement from VA under chapter 31 or 33.

*GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). Information can be found about educational benefits being offered by VA at the official U.S. government website www.benefits.va.gov/gibill.

Active Duty Tuition Assistance (TA) 

Tuition Assistance (TA) is a government benefit offered to active duty service members of all branches of the Armed Forces to assist with the cost of tuition. Some Department of Defense employees and military spouses may also be eligible to receive a form of Tuition Assistance. For more information, check with your military branch or your military Education Office to see if you are eligible. finaid@ptseminary.edu

Please see the Tuition Assistance (TA) Funds Return of TA funds timeframe at PTS below. The TA return of funds is slightly different from the regular PTS Withdrawal Policy. Therefore, you may still owe a balance after the calculation of return of funds and according to the timeframe in which you withdraw.

Tuition Assistance Return of TA Funds to DOD Policy

15-week Course Withdrawal Submitted (classes are typically 5 days a week)

Before or during weeks 1-2 100% return

During weeks 3-4  90% return  

During weeks 5-6  75% return  

During weeks 7-8  50% return  

During weeks 9      40% return (60% of course is completed at week 9) 

During weeks 10-15   0% return  

8-week Course Withdrawal Submitted (classes are typically 5 days a week)

Before or during week 1 100% return 

During week 2      75% return

During weeks 3    50% return

During week 4-5  40% return (60% of course is completed at week 4.8)

During weeks 6-8  0% return of TA funds for students that withdraw

PRINCIPLES OF EXCELLENCE

Office of Financial Aid

There are many financial aid options available at the Pentecostal Theological Seminary to assist you with your educational future. PTS’s Financial Assistance Information will provide you with information on the availability of, and your potential eligibility for Federal aid, PTS scholarships, and other sources of aid that may be available (Executive Order 13607 Section 2a & 2b.).

Prospective students who are service members, Veterans, or family members who will receive federal funds under the military and veteran’s educational benefits programs will receive an estimated financial aid offer in a personalized and standardized form that will describe: 

• The cost of your educational program; 

• The amount of cost that may be covered by available PTS scholarships, Federal education benefits and financial aid based on the information we have available at the time information is issued. 

This information is subject to changes as additional information is provided and as federal regulations may apply (Executive Order 13607 Section 2a & 2b).

Office of Director of Enrollment Management 

PTS does not participate in fraudulent or unduly aggressive recruiting techniques on or off military installations, misrepresentation or payment of incentive compensation.  PTS meets state authorization requirements, consistent with the regulations issued by the Department of Education (34 C.F.R. 668.71-668.75, 668.14, and 600.9).

PTS complies with readmission requirements for service members set forth in the Higher Education Opportunity Act (HEOA) section 487 and its implementing regulations (34 CFR § 668.18).   PTS will promptly readmit service members to the same program with the same academic status after an interruption in their program due to a call to active duty. The cumulative length of all absences for military service may not exceed five years. 

Students who are service members that are called to active duty must provide PTS with written notification of (1) the military service and (2) the intent to return to school following the active duty service. PTS will accommodate short absences for such services in the Armed Forces.

Students who are called to active duty must return to school under one of the following:

• Within three years after the completion of the period of service 

• Within two years of the needed recovery period if hospitalized or convalescing due to an illness or injury incurred or aggravated during the performance of service 

Students must provide documentation such as, but not limited to the following: DD214, duty orders indicating completion of service, a letter from commanding officer or other authority, certificate of completion from military training school, discharge certificate with character of service, payroll documents showing periods of service, or letter from National Disaster Medical System Team Leader/Administrative Officer verifying dates and time of NDMS training or Federal activation. Other documents may be considered on a case by case basis. 

Service members readmitted to PTS under this procedure will be assessed tuition and fees at the rate of their last attendance or prior offer of admission for one (1) calendar year if they are pursuing the same degree. After the one calendar year, they are assessed the tuition and fee rates in effect at that time.

Office of Vice President of Academics

At the Seminary we also provide all students access to a dynamic individualized educational plan available on demand through our student portal. This personalized “Degree Progress Audit” details each individual student’s progress toward completion of his or her degree requirements based on year of enrollment. Information includes: 

1. Program Details-including information about your enrollment, GPA, Satisfactory Academic Progress status, Credits earned, scheduled, and required; 

2. Student Academic Progress-A degree audit demonstrating your progress towards completing your program requirements; and 

3. Individual Course information and requirements.

Evaluated Educational Plan

In addition, the Seminary will provide to service members, veterans, and their family members who have previous coursework from other accredited institutions and relevant military training and experiential learning an evaluated education plan that indicates:

1. How many, if any, transfer credits we intend to award and 

2. How these transfer credits will be applied toward your educational program. 

This evaluated educational plan will be provided within 60 days after your degree program selection and all official transcripts have been received.

Advising Point of Contact

Service members, veterans, and their family members seeking support services may acquire information from our qualified staff members. The Seminary provides these points of contact:

1. Academic Counseling-Office of Academics

2. Financial Aid Counseling-Financial Aid Advisor

3. VA and TA Benefit Counseling- Financial Aid Advisor

4. Student Support Service Counseling- Office of Student Services

Office of Vice - President for Institutional Effectiveness and Accreditation

The Pentecostal Theological Seminary obtains approval from our accrediting agencies in compliance with substantive change requirements by those agencies for courses or program offerings and only enrolls students in accordance with such approval as is appropriate under the substantive change requirements of each accrediting agency (Executive Order 13607 Section 2d).

Business Office

As Pentecostal Theological Seminary follows the Principles of Excellence as outlined in Executive Order 13607 (EO 13607), any refunds to students who are service members, veterans, spouses and other family members of service members will follow the Seminary’s Return of Title IV Refund Policy as outlined below:

RETURN OF TITLE IV REFUND POLICY

 According to federal regulations, Title IV aid is earned in a prorated manner based on calendar days up to the 60% point of the semester. Title IV aid is viewed as 100% earned after that point in the semester. The institution will perform a return of funds calculation to determine the amount of aid that was earned, up through the 60% point in each payment period or period of enrollment. The institution will use the Dept. of Education’s proration schedule to determine the amount of return at the time of withdrawal. All unearned funds will be returned to the Title IV program within 45 days.

The return of unearned Title IV aid applies to any student who meets the following criteria:

1. The student completely withdraws (officially or unofficially) before 60% of the payment period.

2. The student received Federal Title IV or state aid (Federal Stafford Loan, Federal Graduate PLUS Loan, but not Federal Work-Study).

If a student withdraws before the 60 percent point of the semester during the period of enrollment (calculated using calendar days), the Seminary is required to calculate the amount of aid earned. Any unearned aid must be returned to the Dept. of Education, according to the provisions of the Higher Education Amendments of 1998 in the following order:

1. Unsubsidized Direct Loans

2. Subsidized Direct Loans

3. Direct Plus Loans

A student is considered withdrawn per federal regulations when the student ceases enrollment during a semester, even if they completed courses in an earlier session during the semester.  This type of withdrawal can occur by student request or by administrative removal from course/s (suspension, lack of participation, etc.). Similarly, students that withdraw from all PTS courses are considered withdrawn. Students that cease attendance in courses without requesting a withdrawal (to the Registrar’s Office), can also be considered a withdrawal.

Students that fail to receive a single passing grade (and have not otherwise officially withdrawn) are evaluated for possible administrative withdrawal. Students that participate and attend courses but receive failing grades are considered as having earned 100% of their Title IV funds, since they have attended and participated but failed in spite of attendance and work. Students that have ceased attendance with a failing grade are considered unofficially withdrawn and the Financial Aid Office will calculate a RT24 calculation to determine the amount of earned/unearned aid.

The student is considered to be “Officially” withdrawn on the date the student notifies the Registrar of his or her intent to withdraw in writing at: registrar@ptseminary.edu the withdrawal date is the date that the Registrar receives the written notice. The withdrawal date is determined by the Registrar’s Office. If a student does not officially notify the institution of his or her withdrawal, 50 percent of the payment period may be used (or the school may choose to use a documented attendance date that is past the 50 percent point). The calculation of return of these funds may result in the student owing a balance to the Seminary and/or the Dept. of Education.

If the loan amount disbursed to the student is greater than the amount the student earned, unearned funds must be returned to the Dept. of Education. The student will be responsible for any balance due on the school account after Title IV funds have been returned. The student’s responsibility includes earned Title IV aid due to the lender and any tuition and fees due to the institution. Any return of funds to the Department of Education are covered by the terms and conditions of the original master promissory note executed between the student and the Department of Education, and repayment of these funds will follow those terms and conditions.

The student must return his or her portion of unearned Title IV aid owed to PTS within 45 days or they will be referred to the U.S. Department of Education for collection. The student will remain ineligible to receive future Title IV aid until his/her obligation is paid in full.  If the Return of Title IV funds calculation results in a credit balance on the students’ account, the school must notify the student within 30 days allowing the student at least 14 days to accept or decline the post disbursement funds. Students must reply to accept or decline at 423-478-7727 or finaid@ptseminary.edu the student’s credit balance must be disbursed as soon as possible and no later than 14 days after the calculation of their return of funds.

Students that accept a post-withdrawal disbursement will have their post-withdrawal disbursement applied to their student account first and any credit resulting from the disbursement will be sent to the student (via the means of disbursement as requested on file at PTS). The institution may apply a portion of the post-withdrawal disbursement funds for tuition and fees. For all other school charges, a student must give authorization to PTS to apply these funds to the student’s charges. Please note that it is in the student’s best interest to apply the post withdrawal disbursement to the school charges to reduce their school debt. If the student’s response it not within the allotted time frame or the student declines the post withdrawal funds, we will return any earned funds being held to the appropriate Title IV Program.

The post withdrawal funds will be disbursed via direct deposit or by check via U.S. Postal Service (as requested by the student in writing on the Credit Balance Form in the Business

Office). If a direct deposit request is not on file, these funds will be mailed via U.S. Postal service directly to the student. If the credit balance check is not claimed by the student and is returned to the school, the funds will be returned to the Title IV Program. If the student does not claim the funds, the funds must be returned to the Dept. of Education no later than 240 days from the date the check was issued.

Students may authorize PTS to apply their post disbursement to their prior PTS educational expenses by completing an Authorization Form. This is available under the Forms page in the PTS Populi Portal and can be submitted to finaid@ptseminary.edu