Need-Based Financial Aid
Virginia Theological Seminary awards need-based financial aid to eligible full-time students (12 credit hours per semester) for the normal time period to complete a Master's level degree (MDiv 3 years; MA 2 years) or a degree in Anglican Studies (1 year). Financial need is calculated for a 9-month period and determined by deducting projected financial resources and support from eligible educational expenses. A percentage of personal net assets is included in the calculation of a student's financial resources. Debt is not taken into consideration in the financial need calculation. It is strongly recommended that prospective students eliminate consumer debt before coming to seminary.
If a student’s eligible educational expenses exceed projected resources and support, VTS awards financial aid to meet that need. Aid is primarily offered in the form of need-based grants from the Seminary. The Seminary's need-based grants range from $500-$27,000 depending upon a student's financial situation.
The Seminary grant is the final component of a student’s financial aid package. It is awarded after all other sources of financial support are identified. As a student’s financial situation changes throughout the academic year, the grant is recalculated and may be adjusted.
Timeline and Due Dates
While on campus for the Admission Interview, prospective students can meet with the Director of Financial Aid to learn about VTS financial aid and to discuss their eligibility. The VTS Financial Aid Application and a signed copy of the most recent federal income tax return are due May 1 for entering students. The supporting documentation is due prior to the disbursement of aid. Applications received after the deadline will be processed and awards made depending on the availability of funds; late applications typically result in reduced grant funding of $500 or more. Virginia Theological Seminary does not participate in federal Title IV student aid programs and therefore does NOT require the FAFSA to be completed.
For returning students, the VTS Financial Aid Application, a signed copy of the most recent federal income tax return, and documentation of applying to three private/outside scholarship sources are due June 1. Applications received after the deadline will be reviewed but typically result in an offer of reduced grant funding of at least $500. The supporting documentation is due prior to the disbursement of aid.
Disbursement of Awards
Financial aid awards are for the full academic year. One-half is credited to the student’s account each semester. If the aid exceeds tuition and fees, the student will receive a refund about one week after the semester begins.