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Financial Aid

Financial Aid

Virginia Theological Seminary is delighted to offer an expanded and simplified financial aid application and award process that allows most full-time master’s level students to have their costs of education covered.
All students applying for financial aid with a combined adjusted gross income (single/family) less than $150,000 annually and combined assets less than eight times the respective Cost of Residency category (see below) will receive a package that includes:

• The cost of tuition;
• The cost of on-campus housing; and
• The cost of a meal plan (for single students, three meals/weekday; for all others, the lunch-only plan).

 

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To Qualify

To qualify, all students must apply for financial aid to be considered for this award package. Assets to be considered for the Cost of Residency requirement are: Cash and Cash Equivalents, Stocks, Bonds, and Real Estate Holdings. Primary Residence and Pension/Retirement accounts will not be considered.

Cost of Residency categories are defined as follows:

• Single students: $20,200;
• Students living in a one-bedroom apartment: $30,100;
• Students living in a two-bedroom apartment: $32,500;
• Students living in a three-bedroom apartment or house: $34,900.

Financial Aid Qualifications

Any student choosing not to accept an on-campus housing option and instead living off-campus will not be eligible for a housing subsidy but will be eligible to receive an award to cover tuition. These students will be considered “commuter students.” Commuter students receive no housing subsidy/allowance or health insurance allowance. Commuter students do not qualify for any additional stipends such as Bishop Payne or International student scholarship.

Each student will be required to present an annual budget of living expenses. This budget should clearly identify the sources that will be used to meet all other financial obligations during residency.

Applications for financial aid should be submitted during the admission application process so that a financial aid decision can accompany the admissions decision.

In addition to a student’s personal financial resources and those that may be available from the Seminary, students need to look to their diocese, parish, family, friends, and private scholarships for additional assistance. By being proactive in seeking support, students can ensure they have the resources needed to complete their master’s-level education while incurring the least amount of debt, which will allow them to be open to the widest array of ministries following graduation.

Virginia Theological Seminary does not participate in federal Title IV student aid programs and therefore does not require the FAFSA to be completed.

Regional Scholarships

Scholarships Based on Geographical Areas:

The Hampton Roads Community Foundation is currently accepting applications for the following scholarships. The 2019-2020 theological scholarship application is due April 1, 2019. Students may visit our website at hamptonroadscf.org to view the list of available scholarships and complete our online application. Applicants should be native or long-time residents of the specified geographic.
Barron F. Black Theological Scholarship – For students at Virginia Theological Seminary (Alexandria, VA) who are candidates for the ministry. Students must be residents of the geographic region served by the Diocese of Southern Virginia.

Richard D. and Sheppard R. Cooke Memorial Scholarship – For students from Hampton Roads attending Union Presbyterian Seminary in Richmond who are candidates for the ministry. Preference will be given to students from Norfolk churches within the Presbytery of Eastern Virginia.

William F. Miles Scholarship – For a student from Hampton Roads who is preparing for leadership in a field of religious service.
Reverend Doctor Joyce G. Moss Theologian Scholarship – For students attending Richmond Virginia Seminary or Regent University School of Divinity with the intent of pursuing a full-time career in Christian ministry. Preference will be given to full-time graduate students who have at least a 3.0 grade point average.
Hy Smith Endowment Fund – For students at Virginia Theological Seminary in Alexandria who are candidates for the ministry. Students must be residents of the geographic region served by the Diocese of Southern Virginia.

Scholarship Listings

A limited listing of scholarships for seminary:

The Episcopal Church offers a number of scholarships to support seminarians in their studies, especially students from racial and ethnic minority backgrounds.The Fund for Theological Education supports those discerning and exploring ministry as a vocation. Their FundFinder lists other sources for financial aid.

Foundation Grants for Individuals lists sources for grants and scholarships. There is a monthly or annual fee charged for searching. For VTS students, free online access to the Foundation’s scholarship listings is available in the VTS computer lab.

Scholarships and Grants

Church Training and Deaconess House Scholarship Fund supports Episcopalian women in a graduate program to further their lay or ordained ministry. Made possible by the Diocese of Pennsylvania, grants range from $2,000-3,000 and are renewable upon reapplication. Deadline is March 21.

Holy Trinity Centennial Trust Scholarship assists students studying to be involved in lay or ordained ministry in the Episcopal Church or the Anglican Communion. Deadline is March 31.

The Daniel R. Hoover Scholarship supports graduate students studying in the field of ministry who exhibit financial need, academic merit, and community service, with preference given to students from North Carolina and secondarily to those attending a school in the South. Deadline is January 27.

The International Order of The King’s Daughters and Sons has a Student Ministry Scholarship Department which grants financial aid to Master of Divinity students preparing for a full-time religious vocation with a B grade average or better.  Request applications between January 1 and March 31.  Deadline is April 30.

The Anne Kumpuris Scholarship honors academic achievement by a seminarian seeking ordination in the Episcopal Church. One scholarship of $10,000 is awarded annually to a student entering the second or third year of studies. Deadline is May 15.

Military Chaplain Candidate Scholarship is available to full-time seminarians who plan to be a military chaplain and who have an appointment or are in active service as a “Chaplain Candidate” in one of the Armed Services.  Deadline is March 15.

The Order of the Daughters of the King offers need-based scholarships from its Masters Fund for Daughters and other women who are members of the Episcopal Church, the Anglican Communion, or churches in communion with the Episcopal Church who are studying for leadership and service within the church.  Deadline is March 15 for Fall and October 1 for Spring or Summer awards.

Point Foundation oversees the National LGBTQ Scholarship Fund, which awards scholarships to graduate students who demonstrate academic achievement, financial need, leadership, and involvement in the LGBTQ community.  Applications must be completed online and the initial step must be submitted by January 14.

The Roothbert Fund awards scholarships for candidates who have excellent grades and are “motivated by spiritual values” they seek to manifest in everyday life, with preference given to those considering a career in teaching/education. Applications are available on their website from November 1 through January 31.  Deadline is February 1.

The Scudder Association awards educational grants based on academic merit and financial need to students studying the field of ministry. Complete an application obtained at their website and then contact the VTS Office of Financial Aid for the referring association member’s name (as required on the scholarship application).  Deadline is April 15.

SeminaryScholarships.org A comprehensive, filterable, listing of over 160 scholarships available to seminary students

Shepherd Scholarship from the Scottish Rite of Freemasonry is for students from a Masonic or Scottish Rite background who are studying for degrees that “benefit the human race.”  Applications are available online.  Deadline is March 31.

Scholarships for Evangelism Projects

Evangelical Education Society (EES) awards grants up to $5,000 to Episcopal students, faculty, staff and their families who are members of ATS-accredited seminary communities. They support ministry projects that take the gospel to the unchurched, bring new evangelical vigor to parish churches, and help believers to understand and articulate the Christian faith. Projects must include an immediate element of evangelism, either through teaching, preaching, or other means of program delivery; strictly pilgrimage and cross-cultural immersion trips do not qualify. Applications are on their website.  The deadline is approximately February 1 for May-August projects and September 1 for December-March projects.

Requirements

All financial aid applicants must submit:
*VTS Financial Aid Application
*Signed copy of the prior year’s federal income tax return (Form 1040)

VTS does not participate in the federal Title IV aid programs (e.g., Stafford Loan) and therefore does not require the completion of a FAFSA.