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    Gordon-Conwell Theological Seminary

    Financial Aid Office
    130 Essex Street
    South Hamilton, MA 01982
    (978) 646-4018
    Hours: 8:00 a.m. - 4:30 p.m. M-F

    Student Accounts Office
    130 Essex St.
    South Hamilton, MA 01982
    (978) 646-4049
    Fax: (978) 646-4601

    Fall and Spring Hours:
    Closed Daily for Lunch 1:00pm-2:00pm
    Closed Wednesdays for Chapel 11:00am-12:15pm

    Summer Hours:
    Monday-Thursday: 9:00am-3:30pm
    Closed for Lunch: 1:00pm-2:00pm
    Friday: Closed

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Student Loans / SAP - Boston

Gordon-Conwell participates in the William D. Ford Direct Student Loan Program for Federal Direct Loans. You must file a FAFSA and Gordon-Conwell Financial Aid Application each year in order to be considered for federal student loans while at Gordon-Conwell. 

In order to receive federal student loans, you must

  • Be a U.S. citizen or eligible non-citizen (such as a Permanent Resident);
  • Have a Bachelor's degree or have completed at least the equivalent of 3 prior years of full-time academic study at the undergraduate or graduate level;
  • Be in an eligible degree-seeking program (M.A., M.Div or Th.M.);
  • Be registered at least half-time (at least six credits each semester);
  • Maintain Satisfactory Academic Progress which includes meeting the minimum GPA requirement for your degree program;
  • Not be in default on any previous federal student loan or have a hold on your GCTS account; AND
  • Not be a visiting student or in a diploma, certificate or D.Min program.

Please be aware of the GCTS Indebtedness Policy which requires additional information from students as they approach or exceed a  certain level of student loans. See the Student Loan Indebtedness Policy below for more detail.

Find more information on each of the following topics below.

SAP: Satisfactory Academic Progress Regulation and Policy for Student Loan Borrowers

The Department of Education regulations require that GCTS maintain a Satisfactory Academic Progress review for all students who receive federal student loans. The law requires the Financial Aid office to review the cumulative GPA and rate of completion for student loan borrowers to ensure that each student meet the following requirements:

  • The student's GPA must meet or exceed the minimum required for their degree program AND
  • The student must successfully complete at least 67% of the courses attempted toward his/her degree. The calculation compares the number of credits for courses you have successfully completed to the the number of credits for courses you have attempted. "Successfully completed" means earning a passing grade of D- or above or "P" for a pass/fail class.
  • If a student’s rate is not 67% or more and/or the GPA minimum earned for their degree is not met, then a Federal Student loan will either not be processed or will need to be cancelled until the acceptable rate and/or GPA to receive Federal student loans is achieved.

If a student borrower does not pass the SAP requirement, a letter is emailed to the student informing him/her. There is an SAP appeal process and you may read more in the student handbook for the details concerning the requirements of the appeal process. If your appeal is granted, then your loan eligibility will be reinstated and we will be able to process loans for you for the semester.

Student Loan Indebtedness Policy

The Gordon-Conwell Board of Trustees has become concerned about the impact that large loan repayments may have on the effectiveness of our students' future ministries, goals, and families. In response to this concern, the Seminary has established a policy to reach out to any student whose student loan debt is nearing or has exceeded $40,000 whether from current study at the Seminary or previous study at other institutions.

We consider this level of debt a point at which reflection is both warranted and wise. If this applies to you, the Financial Aid Office will send you a letter with a few questions about your plans for future borrowing and repayment. We require that you thoughtfully address the questions in your written response to our Financial Aid Debt Committee. This letter is, of course, strictly confidential. The Committee will review your response before the financial Aid Office will offer additional federal student loans beyond the $40,000 threshold.

Federal Direct Loan Program

Students applying for financial assistance meet a substantial portion of their need through the Federal Direct Loan Program. The annual maximum award amount is $20,500, although students at the Boston campus may receive loan amounts up to the cost of tuition only. As of July 1, 2012, there is only one type of federal student loan available to graduate students: unsubsidized federal direct loans.

Unsubsidized Federal Direct Loan

  • Annual Maximum Amount: A student may be eligible for up to a maximum of $20,500 in unsubsidized loans provided the student is attending at least half-time (6 or more credits each semester), is in a degree program, is not on Academic Probation for two consecutive semesters and the amount of loan does not exceed the cost of attendance minus any scholarships, grants, or gifts.
  • Federal Direct Loan Interest Rate: The interest rate for federal Unsubsidized Direct Loans is 6.0% for the 2017-2018 academic year. The lender fee of 1.066% will be deducted from the loan amount prior to disbursement.
    • Interest on an unsubsidized loan accrues while you are enrolled in school and during the six-month grace period following graduation. The interest rate for loans made during the 2017-2018 academic year is 6.0% and is fixed for the life of the loan. Students have the option to pay the interest monthly while in school (which is recommended) or let the interest grow on top of the principal (with this option, the principal would grow as interest is added every month).
  • Repayment: Repayment begins six months after graduation, withdrawal or enrollment below half-time. The standard repayment term is ten years, but other options may be available.
  • Do I need to sign a Federal Direct Loan Promissory Note (MPN)?
    • If you are applying for Federal Student Loans for the first time at GCTS, you are required to complete a new Direct Loan master promissory note online. You will need your FSA ID (or FAFSA pin number) to access your account at this website.
  • Am I required to complete a Direct Entrance Counseling tutorial online?
    • If you are applying for Federal Student Loans for the first time at GCTS, you are required to complete a Direct Entrance Counseling tutorial online at this website. The tutorial gives good information about federal student loans. You will need your FSA ID (or FAFSA pin number) to access your account
  • Am I required to complete a Direct EXIT Counseling tutorial online?
    • When a student borrower graduates, drops below half-time status, withdraws or takes a leave of absence, the student must complete an online Direct Exit Counseling tutorial. Exit counseling gives good information about repayment plans and options. Click here for Online Exit Counseling. GCTS can not issue a diploma or transcript until this requirement is completed.

To inquire about any other borrowing options for student loans, please contact the Financial Aid Office.

Federal Student Loan Repayment and Consolidation

Information about federal loan consolidation and an application for consolidation can be found at studentloans.gov.  Review the standard repayment plan and other federal repayment plan options at studentaid.ed.gov. To view your student loan history or for information about your loan servicer, login in to nslds.ed.gov. 

You are responsible for staying in touch with your loan servicer and for making student loan payments, even if you do not receive a bill. Make your student loan payments directly to your loan servicer.  Additional information about basic repayment procedures, repayment plans, and loan consolidation, has been compiled on our Federal Student Loan Repayment Handout.

Student Loan Debt History

To review your student loans or to get information about your loan servicer, see the National Student Loan Data System at http://www.nslds.gov . Use your FSA ID or FAFSA pin number to access the system.

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