Trinity Evangelical Divinity School

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Grants, Loans and Other Aid

Grants

Pell Grant

To be considered for this grant, the student must complete the FAFSA and send it to the Federal Processor. Once the FAFSA is processed, the Student Aid Report (SAR) will be generated and sent directly to the student. The student is instructed to review the SAR for any needed corrections. The TIU Financial Aid Office will evaluate the electronic SAR to determine the student’s eligibility. Students may be eligible for awards ranging from $585 to $5,775 per academic year.

Federal Supplemental Educational Opportunity Grant (FSEOG)

To be eligible, the applicant must be a full-time student at TIU and show a financial need as reported on the SAR. Awards range from $100 to $1,000 per academic year. This program has limited funding, so it is strongly recommended that students apply early.

 

Additionally, Trinity International University makes tuition scholarships available to students who demonstrate special ability or financial need. The university reserves the right to limit the number of scholarships awarded in any program.

 

Note: All awards are based on annual eligibility. If a student becomes eligible between fall and spring semesters of an academic year, awards given will be half of the annual eligible amount. All scholarships are based on full-time enrollment.

Federal Funds and Loans

Direct Subsidized Stafford Loan

A need-based long-term loan administered by the U.S. Department of Education. Eligibility is determined by the information provided on the Free Application for Federal Student Aid (FAFSA) and the schools total cost of attendance minus all other aid received. The interest rate is a fixed 6.8% for graduate and professional students. Interest rate for undergraduate students for loan disbursed on or after July 1 2010 will be fixed at 4.5%. Interest accrual and repayment begins six months after the student graduates, drops below half-time enrollment status or separates from the institution.

Direct Unsubsidized Stafford Loan

A long-term loan administered by the U.S. Department of Education. Eligibility is determined by the information provided on the Free Application for Federal Student Aid (FAFSA) and the schools total cost of attendance minus all other aid received. The interest rate is fixed at 6.8% and interest accrual begins at the time the loan is disbursed. The borrower is responsible for the interest that accrues while in school and during grace and deferment periods. Students may opt to pay the interest while in school or have the interest added to the outstanding principle. Repayment begins six months after the student graduates, drops below half-time enrollment status or separates from the institution.

Direct PLUS Loan for Parents

The Direct PLUS Loan for Parents is a low-interest, government guaranteed loan available to parents of dependent undergraduate students. This is a non-need based loan for those who do not have an adverse credit history. The interest rate is currently fixed at 7.9% and starts accruing immediately after the first disbursement, and repayment begins within 60 days after the loan is fully disbursed. You can postpone repayment on your Parent PLUS loan until six months after your dependent student leaves school or drops below half time. During this postponement period, the parent is responsible for the interest that accrues and has the option to pay the accrued interest or have the interest added to the outstanding principal. Borrowers may borrow up to the total cost of attendance minus other financial aid received. Dependent students whose parents do not qualify for a Direct PLUS may borrow the Direct Unsubsidized Stafford Loan up to the student’s loan limit based on grade level.

Direct PLUS Loan for Graduate/Professional Students

The Direct PLUS Loan for Graduate/Professional Students is a long-term, low-interest loan for Graduate and Professional Students, not their parents. This is a non-need based loan for those who do not have an adverse credit history. The interest rate is currently fixed at 7.9% and starts accruing immediately after the first disbursement. The student (borrower) is responsible for the interest that accrues while in school and during grace and deferment periods. Students may opt to pay the interest while in school or have the interest added to the outstanding principle. Repayment begins 60 days after the loan is fully disbursed, while the student is still enrolled. Borrowers may borrow up to the total cost of attendance minus other financial aid received.
Borrowers must apply for the maximum eligibility under the Direct Stafford Loan Program prior to applying for Direct PLUS Loan for Graduate/Professional Students.

Alternative/Private Education Loans

Alternative loans are available through commercial lenders for educational costs during periods of enrollment. They are based on credit-worthiness (meaning that the lender will do a credit check). We recommend that students request a copy of their credit report to check for accuracy and that all valid credit problems are addressed before applying for an alternative loan. We strongly suggest that students submit a FAFSA and seek federal loan assistance before attempting to participate in any alternative loan programs.