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40 Spouse Half-tuition Discount A 50 percent tuition discount available to spouses of full-time students. Both the student and spouse must be attending Denver Seminary concurrently and be enrolled in master's-level courses, with the discount applied to the spouse taking fewer credits. It is not necessary for the spouse receiving the discount to be enrolled in a degree program. External Scholarships External scholarship resources, including scholarship search engines, can be found on the grants and scholarships page at http://www.denverseminary.edu/admissions/financial-aid/. Federal Loans All student loan borrowers are encouraged to educate themselves on proper loan management prior to applying for loans. The loan management page is designed to help students consider all aspects of debt management including, but not limited to: (1) average anticipated salaries, (2) recommended debt-to- income ratios, (3) estimated monthly payments, (4) various repayment plan options. Borrowers with high aggregate student loan debt (typically $40,000 or more) will be requested to develop a financial plan with the Financial Aid Office by completing a budget worksheet and also meeting with a financial aid counselor. Borrowers are encouraged to regularly monitor their federal student loan balances at www.studentaid.gov to ensure up-to-date awareness and accuracy of their loan details. Direct Unsubsidized Loans Direct unsubsidized loans are the primary federal loan type currently available for graduate-level students. The interest rate is a variable-fixed rate; the rate is tied to national financial markets and is recalculated each summer based on current rates. The current rate at the time a loan is taken out will be locked in for the life of that loan. For up-to-date interest rate information, visit www.studentaid.ed.gov. The $20,500 annual limit for direct unsubsidized loans remains unchanged. Additional details include: (1) 1.073 percent origination fee (withdrawn by lender prior to disbursement; subject to change), (2) payments deferred while enrolled at least half-time (five credits per semester), (3) no prepayment penalties, (4) six- month repayment grace period upon leaving school or dropping below half-time. Completion of the FAFSA begins the application process. Note: Denver Seminary does not typically offer the full $20,500 on the initial award letter but offers just enough to cover tuition and fees. Your online award letter provides instructions on how to request additional funds to assist with books and/or living expenses. 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 varies depending on the student's cost of attendance budget and previously utilized financial aid (including grants and scholarships). Additional details include: (1) 4.292 percent origination fee (withdrawn by lender prior to disbursement, subject to change), (2) payments deferred while enrolled at least half-time (five 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. Federal Work Study Federal work study funds are disbursed to various departments who have requested work study positions. Those departments then advertise work study positions along with other available on-campus positions.