Financial Aid Policies

Regulations for Students Receiving Financial Aid

Since Payne Theological Seminary defines a full-time student as anyone enrolled for more than nine semester hours (see Academic Regulations), the maximum time allowed for the completion of this graduate program by a full-time student receiving federal financial aid is five years in a program that requires a minimum of three years for completion.  This means that a student must successfully complete at least 18 hours per year in order to qualify for federal financial aid as a full-time student.

Part-time students can qualify for federal financial aid providing they enroll in at least six hours per semester or 12 hours per year (including Interterm and Summer Semesters) and successfully complete 60percent of the hours in which they enroll.  Continuing enrollment and financial aid is contingent on the maintenance of the minimum GPA specified below.

The minimum GPA required by the Seminary for graduation is 2.5.  Any student dropping below that level is placed on academic probation and is not permitted to enroll in more than nine hours per semester (see Academic Regulations).  Any student on academic probation for more than two consecutive semesters is subject to dismissal.

Since Payne is on the semester system, each student's progress is evaluated at the end of each semester.  Eligibility for financial aid is determined upon that basis as well.

Any student transferring into the program must meet the same requirements as other students (see Academic Regulations).  If students admitted with a GPA of less than 2.5 on a 4.0 scale, they are admitted on academic probation and the same regulations concerning academic probation and financial aid specified above apply.

The Financial Aid office sends a list of additional financial resources for graduate study to all newly admitted students. This list is update annually and listed on the Seminary’s website, in the Office of Financial Aid, and posted around the campus and the virtual community.