Financial Aid at ETS
MDiv, MA, and DMin students may also participate in several financial aid programs for graduates and professional students such as the Michigan Tuition Grant and the Stafford Loan programs. There are a variety of grants and scholarships available for all ETS students who qualify. Note that the UMD program does not qualify for Federal Student Loans.
What is Financial Aid?
Need-based aid generally comes in the form of grants, loans, and work-study programs. The amount of aid a student receives is limited by financial need. Financial need is determined by each school based on the cost of education minus the expected family contribution information from the FAFSA.
There is a third category called non-need-based aid. Generally, non-need based aid comes in the form of loans, either guaranteed by the government or approved by private sources. Non-need-based aid may be used to supplement need-based aid up to the total cost of education.
Applying for Financial Aid
To apply for financial aid you must complete the Free Application for Federal Student Aid (FAFSA) and a Master Promissory Note. This applies to incoming first-year students and transfer students, as well as returning students who wish to renew their aid for another year. The FAFSA determines your financial need and eligibility for aid by weighing the cost of your education against the ability of you and your family to pay that cost.
ETS School Code
Our School Code is G40024
Additional Financial Aid Source
Students, who need additional aid for funding their education at ETS, can apply for loans through the FFELP loan program. Students can borrow up to $18,500 in funds on an annual basis. Of that, $8,500 may be subsidized by the federal government. The government may pay the interest on the note. To apply for federal loan funds, students will need to complete a FAFSA application and a Master Promissory Note.
ETS has established some scholarship to assist students with financial need.
They MUST complete Exit Counseling, OR, when they drop below halftime status in order to qualify for the FFELP and/or the Stafford Loan program students MUST completeEntrance Counseling and upon completion of their educational program.