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Applying for
aid
This page lists
all the steps in the aid application cycle. Returning students will
be familiar with this process, but we know it can be confusing for
new students. Keep reading, or use the links below to go directly to
specific topic section:
Eligibility for
aid
To be eligible
for any of the Federal student aid programs, you must meet all of
the following criteria:
·
be
a U.S. citizen or eligible non-citizen
·
have a valid Social Security Number (and your name must be listed as
on your card)
·
have earned a high school diploma or G.E.D.
·
be
registered with Selective Service (if required)
·
be
offered admission to a Bangor Theological Seminary degree program
·
continue to make
Satisfactory Academic Progress (SAP) toward a degree. More information
regarding SAP may be found in the
BTS Student Guide.
·
not
be in default on a previous Federal educational loan program
All students are
encouraged to apply. Every student may be eligible for some type of
financial assistance, and every financial aid applicant is
considered for BTS Scholarships simply by applying for
financial aid.
Applying for
aid
The first step
in receiving financial aid is to file the Free Application for
Federal Student Aid (FAFSA). All students are required to
file the FAFSA every year in order to be considered for Federal
financial aid, as well as most types of Seminary and State financial
aid. It is more efficient to file
electronically using
FAFSA on the Web.
Be sure to list
Bangor Theological Seminary on your application so that we receive
your application data:
BTS
Title IV Institution Code:
002035
In response to
filing either a FAFSA or a Renewal Application, the Federal
processing center will send you a
Student Aid Report (SAR).
Carefully review your SAR for errors and make any necessary
corrections by following the instructions on the SAR. You do not
need to send the SAR to BTS.
Once your FAFSA
has been completed, submit:
- a signed copy
of your most recent tax return
- the BTS Aid
Application (available on the Forms Page)
All
materials should be returned to:
Office of Admissions and
Financial Aid
Bangor Theological Seminary
Two College Circle
PO Box 411
Bangor ME 04402-0411
The
"special condition" form
may be used for the following circumstances:
-
loss of job or
benefits
-
separation/divorce
-
death of a
spouse
Conditions other
than those listed above may be listed on the regular application,
question #25.
When to apply
You
must apply
each year for financial aid for the following academic year. To receive priority consideration
for
all types of financial aid, your completed application materials
must be received by BTS by May 1. We recommend that you submit
your FAFSA by February or March in order to meet this priority
deadline. Materials received after May 1 will be considered on an
individual basis.
Determination
of aid eligibility
Eligibility
for most types of BTS financial aid is based on
need, which is the
computed difference between our
estimated
cost of
attendance and your
total expected family contribution
(EFC).
Your contribution is determined using federally-defined formulas,
taking into consideration such factors as income level, assets, and
household size.
The primary
responsibility for paying for a college education rests with the
student. On your FAFSA, you may be required to provide information
about both your own and your family's circumstances. If you have
questions or concerns about this requirement, please contact us or
call the U.S. Department of Education at
1-800-4-FED-AID.
Financial aid
is intended to supplement your own resources. We will make
every attempt to offer as much financial aid as possible, but it is
very rare that all of a student's financial needs are met entirely
through receipt of financial aid. BTS strongly encourages each
student to prepare a personal budget. The Director of Admissions and
Financial Aid is available as a resource in creating a budget.
Notification of your financial aid award
Once your application has been received and processed, we will mail you an Award Notification
letter. Read the instructions and any enclosures carefully to
make sure you know what to do next. You will have the option to
accept or decline each form of aid.
Any time changes
are made to your award, even after you have accepted the financial
aid offer, you will be notified. Changes may be necessary at any
time during the academic year, under any or all of the following
circumstances:
·
corrections and updates to original application data (your
corrections or ours)
·
changes in enrollment level each semester
·
changes in your and/or your family's circumstances
·
receipt of additional assistance and/or scholarships
·
receipt of additional information affecting continued eligibility
·
discontinued attendance in classes (including Leaves of Absence)
·
withdrawal from all classes
Students are
encouraged to contact the Director of Admissions and Financial Aid to discuss the impact on their
financial aid eligibility before their status changes, if at
all possible.
Additional
requirements for certain types of aid
Recipients of
certain types of financial aid must take some additional steps:
Federal
Work-Study students
Information
will be ready for you at the start of the Fall semester,
including instructions on how to locate employment and start earning
your award. Federal Work-Study (FWS) funds do not need to repaid,
but are instead disbursed as wages through the BTS Business Office.
Perkins Loan
borrowers
A Perkins Loan
Promissory Note will be sent to you. Once you have signed and
returned your Promissory Note, your Perkins Loan award will be
placed on your student account with the the BTS Bursar's Office.
Stafford Loan borrowers
We inform you of
your eligibility, but you need to complete a Stafford Loan Request
to tell us how much you choose to borrow. First time borrowers will
also need to complete a Stafford Master Promissory Note (MPN).
You only need to sign the MPN the first time you borrow a Stafford
Loan so long as you continue borrowing through the same lender.
Both types of loans require an entrance interview (before you
receive loan funds) and an exit interview (which takes place when
you graduate or withdraw from BTS). The main purpose of the
interviews is to make sure you understand your rights and
responsibilities as a borrower, and understand the consequences that
may happen if the loan is not repaid.
See also:
Types of Aid
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