Although Southern Seminary does not participate in FASFA loan programs, we can help connect students with loan options.
Click on the loan option below to view complete details. Continue scrolling to read more about repayment and deferment, and tips for borrowing and managing debt.
Available Loan Options
How to Apply
- Complete the Pre-Loan Application/Cost Estimator Worksheet and email the signed copy to firstname.lastname@example.org. Please DO NOT submit a photo of the worksheet.
- If you are a first-time borrower, you must schedule a “First-Time Borrower” meeting with the Financial Aid office before your loan will be approved.
- Students may borrow a maximum of $21,000 per year and $10,500 per semester. Requests exceeding these caps require a detailed explanation specifying the need for a higher amount. Special approval will need to be granted by the Vice President of Enrollment Management. We will seek this approval for you upon receipt of your worksheet.
- Complete the online loan application with (1) Sallie Mae, (2) Discover, (3) KHEAA, or (4) PNC.
- For a comparison of available loans, click here.
- Once your loan has been approved, The Financial Aid Office will certify the student loan and set disbursement dates based on the information given in your Cost Estimator Worksheet.
- Students can request a refund check from the Accounting Office for funds requested for rent and books by logging into my.sbts.edu, selecting the “Account Information” tab under Student Tools, and completing the “Check Refund Request” form.
While there is no final deadline for student loans, students who intend to use a loan disbursement to pay for tuition costs should have all parts of the application process (including submission of the cost estimator worksheet to the Financial Aid Office) completed by the following dates:
- Fall Term – July 1
- Winter Term – November 1
- Spring Term – December 1
- Summer Term – April 1
Tips for Borrowing
- To learn more about how a private student loan works, click here.
- To learn more about what categorizes as a valid loan expense, click here.
- Only borrow what you need. Remember that every dollar that is borrowed will be required to be repaid in the future, plus interest. Calculate how much of your school-related expenses can be paid by other sources (scholarships, payment plan) and then apply for a loan for the remaining amount.
- Make monthly payments while in school. Paying off the interest that accrues each month while in school can amount to large savings after you graduate. Some lenders offer lower interest rates for students who make monthly payments while in school.
- Compare interest rates of lenders before applying. Find a loan and interest rate that is the best fit for you. If you apply with multiple lenders, remember to cancel loans that you do not intend to use.
SBTS Short Term Loan
Southern Seminary offers a short term loan to currently enrolled, continuing students for a maximum of $2,000 with an annual interest rate of 7%. Students may apply for a short term loan in the Financial Aid Office (Norton 153) for tuition or living expenses. The repayment period for the loan is 6 months. Please allow one week from the time of application for processing.
- Student must be currently enrolled at Southern Seminary and a continuing student (first semester students are not eligible to apply).
- Student must not be on academic probation, academic warning, or under disciplinary action.
- Loans are not available for students who have filed for bankruptcy.
- Student must have completed one semester at SBTS.
- Loan applications must be accompanied by a Self-Certification Form (available in the Financial Aid Office).
Repayment and Loan Deferment
Start planning now for how to repay student loans. Our preferred lenders provide the following resources to help you prepare for the repayment process. Remember that you will pay less overall if you make payments while you are in school. At the same time, minimize the amount you borrow as much as possible.
Click the loan servicer name to view repayment resources:
Tips for borrowing:
- Only borrow what you need
- Remember that every dollar that is borrowed will be required to be repaid in the future, plus interest. Calculate how much of your school-related expenses can be paid by other sources (scholarships, payment plan) and then apply for a loan for the remaining amount.
- Make monthly payments while in school
- Paying off the interest that accrues each month while in school can amount to large savings after you graduate. Some lenders offer lower interest rates for students who make monthly payments while in school
- Apply with a cosigner if possible
- Applying with an eligible cosigner can often help students be approved for a lower interest rate. Also, having a cosigner can help students who do not have adequate credit history be approved for a loan who would not otherwise be eligible.
- Compare interest rates of lenders before applying
- Find a loan and interest rate that is the best fit for you. If you apply with multiple lenders, remember to cancel loans that you do not intend to use.
Tips for managing debt:
Students should avoid or minimize debt whenever possible. While this advice is generally applicable, potential borrowers at SBTS should know that mission organizations and churches will sometimes refuse to hire candidates with too much debt. SBTS provides the following resources for students to plan and manage their debt.
Christian View of Debt
How Should Christians View Debt? – Christian Financial Advisors Network
The Bible’s Three Big Lessons on Debt – Tim Challies
College Cost Comparison Tool – MEFA
Planning Your Borrowing
Estimated Income by Degree – U.S. Bureau of Labor Statistics
Managing Debt while in School
Budgeting – BeLoanSmart (KHEAA)
Tips for Repaying Student Loans – Sallie Mae