The Wesleyan Church provides loan/grant assistance to ministerial students preparing for ordained ministry under appointment of a district of the North American General Conference. This student aid program is administered by the Education and Clergy Development Division and is available to juniors and seniors at Wesleyan colleges and those enrolled for graduate theological training up to the completion of a Master of Divinity degree program or its equivalent.
Eligibility
Students are to consult with and be examined and approved by their District Board of Ministerial Development, and must be granted a district license as ministerial students by the district prior to the semester in which assistance is requested.
Students must be taking courses required for ordination in The Wesleyan Church unless already ordained.
Students must indicate their desire and intention to serve under appointment by one of the districts of the United States or Canada of The Wesleyan Church in a capacity where cancellation of the loan/grant can occur.
The student must maintain a grade point average of at least 2.0 on a 4.0 grading scale.
Students must be enrolled with the Ministerial Study Course Agency. Enrollment forms are available here.
Repayment of Loan/Grant
Loans are interest-free while the student is pursuing training for ministry in The Wesleyan Church. Repayment of the loan/grant begins September 1 following graduation or termination of study for ministry in The Wesleyan Church and may be handled through cancellation on the basis of service in The Wesleyan Church or through cash payments.
For those who do not serve The Wesleyan Church after graduation or termination of their studies for ministry in The Wesleyan Church, interest in the amount of ten percent(10%) per annum will begin on September 1 following such termination. A repayment of twenty percent (20%) of principal plus interest will be due one year after said date, with the obligation continuing annually until the note is paid.
Those who serve in a qualifying ministerial appointment by The Wesleyan Church will receive a twenty-percent (20%) cancellation of the loan principal plus interest for each year of full-time service following studies.
Aid is given as a grant to ordained ministers who are eligible for loan/grants but who have served The Wesleyan Church for five or more years under full-time district appointment subsequent to cancellation of any previous loan/grant service obligations.
Application
An application is available here.