Financial Aid

Saint Meinrad School of Theology has many generous benefactors committed to supporting lay ministry and theological education. Their gifts allow lay students to take advantage of the quality academic, spiritual and personal formation offered by Saint Meinrad. Full-time and part-time lay students are given equal consideration for financial aid awards.

Need-Based Assistance
All students may apply for need-based tuition assistance by completing the Free Application for Federal Student Aid (FAFSA) form, available from Saint Meinrad’s Enrollment Office or the Director of Financial Aid.

Eligible students must be citizens, eligible non-citizens or permanent residents of the United States; must maintain progress toward a degree; and must continue to demonstrate need on financial aid applications submitted annually. Need-based tuition grants may offset tuition costs up to 75 percent.

Federal Stafford Loans
Federal Stafford Loans are available to full-time and half-time students through the federal government, or from local banks or lending institutions. Eligible students must submit a FAFSA form.

Full-time students are those taking at least nine credits per semester. Half-time students take at least six credits per semester, or 12 credits per academic year, with at least one course taken in both fall and spring semesters. These loans (up to $20,500 annually) are at a variable interest rate.

Work-Study
A number of part-time positions are available at Saint Meinrad for full-time or half-time students through the federal work-study program. Positions include clerical and other office work. Eligibility is determined by the FAFSA form.

Return of Title IV Funds Due to Student Withdrawal
For current financial aid recipients, a tuition percentage will be determined based on the return of Title IV funds regulations. The Office of Financial Aid determines the return of the Title IV funds percentage and informs the Office of the Registrar.

Institutions are required to determine the percentage of Title IV aid “earned” by the student and return the unearned portion to the appropriate aid program. This percentage is determined by the percentage of the enrollment period completed by the student.

If the type of aid that the student is responsible for returning is a loan, then the student is not required to immediately repay the amount as the grace period for the loan, generally six months, is invoked. If the type of aid that the student is responsible for returning is a grant, then the student will incur a charge on his or her school statement.

The student’s grace period for loan repayments for Federal Unsubsidized and Subsidized Stafford Loans will begin on the day of withdrawal from the School of Theology. Students should contact the lender if they have questions regarding their grace period or repayment status.

Lay Ministry Grant Programs
Any student engaged in paid or volunteer lay ministry may qualify for an additional tuition discount of 5% to 15%. Any student who has been in full-time ministry for at least two years immediately prior to full-time enrollment, and plans to return to full-time ministry, may apply for the lay ministry grant for the duration of his or her full-time study.

“Ministry” includes, but is not limited to, positions such as pastoral associate, pastoral life coordinator, director of religious education, music minister, catechist, chaplain, teacher in a parochial school, denominationally sponsored social service provider. Students may apply by submitting a FAFSA form and a Ministry Verification Form.

Matching Grant Program
Saint Meinrad School of Theology will match an employing agency’s grant up to $150 per semester. Students may apply for this grant each semester—fall, spring and summer—by filling out the Matching Grant Form.

Diversity Scholarship Program
Diversity Scholarships are available to part-time or full-time students who meet the scholarship criteria. Lay students who are of non-Anglo ethnic or racial heritage may qualify for scholarships while they pursue a master’s degree in theology. For information or to apply, contact the Director of Lay Degree Programs.

Marsha and Fred Souders Endowment
The Marsha and Fred Souders Endowment was established to help fund special learning opportunities for students, such as Holy Land studies, a study tour of Rome or programs of the Mexican-American Cultural Center.

Government Assistance to Veterans
Saint Meinrad School of Theology has been approved for veterans’ educational benefits under Section 1775 of Title 38 of the United States Code. New students applying for veterans’ educational benefits should contact the Registrar upon their arrival at Saint Meinrad.

To be eligible to receive federal or Saint Meinrad financial aid, students must meet and maintain the School’s standards of satisfactory academic progress toward a degree. Any student placed on academic probation will lose all subsequent financial assistance until the student is removed from academic probation.

To be eligible to receive federal or Saint Meinrad financial aid, students must meet and maintain the School’s standards of satisfactory academic progress toward a degree. Any student placed on academic probation will lose all subsequent financial assistance until the student is removed from academic probation.

Alumni Discount
Alumni who hold a Saint Meinrad degree (graduate or undergraduate) are eligible for a 30% discount on tuition. Discounted courses can be applied toward a graduate certificate but not another degree.

For further information about all financial assistance opportunities and to obtain the necessary forms, contact the Director of Financial Aid, (812) 357-6518 or financialaid@saintmeinrad.edu.