Issue link: http://denverseminary.uberflip.com/i/326952
25 Direct Graduate PLUS Loans Students who need additional assistance beyond the direct unsubsidized loan are encouraged to consider the direct graduate PLUS loan program prior to pursuing alternative loan programs from private lenders. As with unsubsidized loans, the interest rate on PLUS loan annual limits vary depending on the student's cost of attendance budget and previously utilized financial aid (including grants and scholarships). Additional details include: (1) 4.28 percent origination fee (withdrawn by lender prior to disbursement), (2) payments deferred while enrolled at least half-time (two credits per semester), (3) no prepayment penalties, (4) six-month repayment grace period upon leaving school or dropping below half-time. Application steps include completing a loan adjustment request form from the Financial Aid Office, and applying for eligibility at https://studentloans.gov. Eligibility is subject to a credit check performed by the Department of Education. Veterans Benefits Denver Seminary works with the Department of Veterans Affairs to ensure that eligible recipients of veterans educational benefits obtain the assistance that is available, including, but not limited to, the following programs: Post-9/11 GI Bill, Montgomery GI Bill, Vocational Rehabilitation, Tuition Assistance. ELIGIBILITY To be eligible for most types of financial aid, a student must (1) be accepted into a degree program; (2) complete the FAFSA (www.fafsa.gov) each academic year; (3) enroll at least at half-time (two hours) each semester (although most scholarships require full-time status, which is a minimum of three hours each semester); and (4) maintain satisfactory academic progress (min. 3.0 cumulative GPA). Students who do not maintain eligibility may be required to return funds that were disbursed and start repayment of any previously acquired federal loans. Maintaining eligibility is also contingent upon course completion. The student will be required to return at least a portion of the award(s) back to Denver Seminary if any courses required for financial aid eligibility are dropped after the semester starts or are not completed with passing grades. Adjusted amounts will be based on final enrollment status. The tuition refund policy and financial aid return policies contain further details and should be read prior to dropping any classes after the start date of a semester or session. Eligibility for need-based awards is calculated using the expected family contribution (EFC) from the FAFSA and the estimated cost of attendance budget set by the Financial Aid Office. Once the total amount of financial aid received (including external scholarships) the student is no longer eligible for any further financial aid for that academic year. International students receiving financial aid are required to return to their home country immediately upon completion of the degree. Failure to do so will create a debt with the Seminary for all previously disbursed funds and a hold will be placed on the student's transcript. The recipient will be required to fully pay down the debt through a direct payment or a payment plan before an official transcript will be released. This policy applies to graduates who stay in the U.S. after graduation to pursue a job and/or further education. Satisfactory Academic Progress Students are required to maintain satisfactory progress toward their degree in order to continue eligibility for institutional and federal financial aid. Satisfactory progress requires a minimum 3.0 cumulative GPA for the DMin program. Standards are listed in all scholarship application packets and are also available on the Denver Seminary website.