How to Fund my Education?

Personal Funds

Personal Funds are those from you or your family. Many of our students work in area churches or secular jobs while working toward their degree. If you are relocating to the Austin area to attend, check with the Dean of Students for potential openings/internships in local churches.

 

Austin Grad Scholarships

Through the generosity of supporters, a number of scholarship funds have been established to assist students preparing for service in full-time or lay ministry. Individual funds are described in this Catalogue. Eligibility is based upon enrollment in a degree program, financial need, academic history, and ministry involvement or potential. Priority is given to full-time students, but part-time students may also be eligible. To apply, students must complete the Austin Grad Financial Aid Application. Priority is given to applications received by July 1 for fall semesters and November 15 for spring semesters.

Submit completed application to the Austin Grad Financial Aid Office.

 

Church or Employer Matching

Students often have supporting churches that pay all or part of their tuition. Austin Grad may match a portion of this support – up to 25% of your full tuition payment. When a matching award is combined with another scholarship award, the total of both may not exceed 25% of tuition. Contact our Financial Aid Office for details. If you plan to work in a secular job while in school, check with your employer for programs that may help fund your education.

 

Veteran Education Benefits

Austin Grad degree programs are approved for all major veteran education benefits. Veterans, dependents and survivors of veterans may be eligible. Contact our Financial Aid Office for assistance.

 

Federal Financial Aid Programs

Austin Grad participates in a number of Title IV Federal Student Aid programs. All require the completion of the Free Application for Federal Student Aid (FAFSA).   For access to the FAFSA and other Federal aid sites, create a Federal Student Aid ID.

Federal Pell and Supplemental Equal Opportunity Grants are based on financial need and available to students working toward their first undergraduate degree.

The William D. Ford Federal Direct Loan Program provides for Stafford Subsidized and Unsubsidized loans. Repayment of these loans may be deferred while you are attending at least half-time in a degree program.

• Subsidized loans are awarded according to demonstrated financial need and are available only to undergraduate students. The federal government pays interest while the borrower is enrolled at least half-time in a degree program and during a six-month grace period. Repayment of the loan begins at the end of the six-month grace period after leaving school or dropping below half-time.

• Unsubsidized loans are awarded regardless of demonstrated need and are available to both undergraduate and graduate students. Interest begins accruing from the date of disbursement. By making interest payments while in school, capitalization of the interest can be avoided. When interest is capitalized, it is added to the principal amount of the loan upon which further interest charges are based.

• PLUS loans (Parent Loans for Undergraduate Students) are for parents of dependent students. These can be used to supplement other financial aid awarded to a student, such as the Direct Stafford Loan. Repayment of the Direct PLUS Loan is not deferrable. Parents must begin repayment within 60 days after the entire loan has been disbursed.

• Federal Work-Study positions are available to both undergraduate and graduate degree students. Eligibility is based on financial need. Work hours can be adjusted to fit course schedules; however, total hours are usually limited to 3 to 10 per week.

 

Please see Austin Grad’s current catalogue for a complete list of policies relating to tuition and fees, payment procedures, and financial aid.