Loan Grant

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 Department of Education and the Ministry 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.

Amount of aid available

Loan/grant funds are distributed on a per-hour basis, with a maximum of 64 semester hours on the undergraduate level and 90 hours on the graduate level. The hourly rate is dependent upon the funds available in the Ministerial Student Loan/Grant Fund and the number of persons requesting aid.

Aid is granted for special sessions (summer or between semesters) subject to the availability of funds.

Eligibility

Students must be members of a local Wesleyan church of the North American General Conference and have been recommended by their local church conference to the district for license as a ministerial student.

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 conference (or by the District Board of Administration in the interim of district conference sessions) prior to the semester in which assistance is requested. Initial certification of the district status of the students and subsequent annual re-certification is required. The appropriate form is to be signed by the DBMD chairman or secretary at the beginning of each academic year.

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.

While receiving aid, students shall report by the fifth week of each semester to the properly designated person at the Wesleyan college or approved seminary concerning their church attendance and involvement for that semester. College personnel and seminary campus directors shall cooperate with the General Director of Education and the Ministry in counseling students into meaningful local church relationships as a condition for continued student aid, giving priority to Wesleyan church attendance and service.

Students must be enrolled with the Ministerial Study Course Agency. Enrollment forms may be obtained from the chairman of the religion department, seminary campus director, or the Department of Education and the Ministry.

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. The student may arrange with the Department of Education and the Ministry to make monthly or quarterly payments. Should an account become delinquent, a penalty of 10% of the unpaid balance is assessed annually.

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 district appointment subsequent to cancellation of any previous loan/grant service obligations.

Recipients of loan/grant assistance are required to certify their service annually on forms sent to them by the Department of Education and the Ministry.

After termination of training, it remains the duty of the recipient of a loan/grant to keep the Department of Education and the Ministry informed of any address or appointment change.

Postponement/Deferment of Repayment

Postponement of repayments and interest may be granted if the student continues studies for work in The Wesleyan Church, but is either not eligible for further loans or does not desire aid.

Deferment of payment on principal but not interest may be granted to a student for a reasonable period by the General Director of Education and the Ministry in the case of unusual and extenuating circumstances.

The student must make application annually (by September 1) for postponement and deferment with the Department of Education and the Ministry.

Application

Application for the Ministerial Student Loan/Grant Aid should be made through the student aid officer of the respective Wesleyan College or through the Wesleyan Seminary Foundation campus director of the respective approved seminary. The application packet includes a certification of status form which should be sent to the chairman of the student's District Board of Ministerial Development. Eligibility for the loan/grant is determined for the year when proper certification is given.

Application for the loan/grant must be made for each semester or special session. The deadlines for application are:

  • October 15, Fall semester/quarter
  • January 15, Winter quarter
  • February 28, Spring semester
  • August 15, May or summer session

Loan/grant aid is paid directly to the eligible student at specified times during the year corresponding to the semesters in which the student is enrolled. A promissory note is to be signed for each advance received. These notes are kept on file at the college or seminary until graduation or termination of study and then forwarded to the General Department of Education and the Ministry.

Phone: 317-774-3911

Fax: 317-774-3915

Email: education@wesleyan.org

Mailing: P.O. Box 50434, Indianapolis, IN 46250