2013-14 Application for Financial Aid
2013-14 Tuition and Fees Schedule
An individual must be accepted and registered in the Master of Arts in Teaching Program for a minimum
of six credit hours to be considered for financial assistance. Priority consideration is given to those who submit their financial aid application by May 1.
With the exception of the Church Partnership Grant, all
financial assistance is based on financial need. Covenant College uses the standard federal calculations to determine financial need. This is determined by completion of the 2013-2014 FAFSA, using your completed 2012 federal tax return. Available funds include:
- Master of Arts in Teaching Grant
This grant ranges from $1000-$2000. It is based on financial need and priority consideration
is given to those who submit their financial aid application by May 1.
- Master of Arts in Teaching Diversity Grant
This grant ranges from $1000-$2000 and is available to qualified diversity applicants. Priority consideration is given to those who submit their financial aid application by May 1.
- Church Partnership Grant
This grant is given to students who are members of a church which gave according to the askings level of the college for the previous calendar year. These grants range from $587-$837 per semester. Church membership must be verified on the Covenant Application for Aid.
- Federal Subsidized Stafford Loans (formally called Guaranteed Student Loans). Congress has passed legislation that makes the Subsidized Stafford loan no longer available for graduate students, starting with the 12/13 aid year.
- Federal Unsubsidized Stafford Loan
These loans are not need based and can range from $500 to the total cost of the program. Loans will be processed electronically through the Financial Aid Office. For this loan, because it is not subsidized, the interest is active from the beginning and must be either paid quarterly or capitalized (added to the loan principle). The interest rate for the unsubsidized Stafford Loan is 6.8%.
Changes in the loan program – In the past we have been in the FFEL Loan Program which means that you could choose your lender. All colleges have had to change to the Direct Loan Program, which means that loans are held by the Department of Education. If you had a previous FFEL loan and have not yet had a Direct
Student loan you will need to complete new paperwork if you accept a federal Stafford Loan.
- Employee Reimbursement Form: 2013-14
Updated: February 15, 2013
Learn More About the Financial Aid Process