Financial Aid FAQs
What is Asbury Theological Seminary’s school code?
How often do I need to complete the FAFSA?
You will need to complete the FAFSA once each year. For priority consideration for institutional awards, complete your FAFSA prior to March 1.
What do I need to do to keep my student loans (past and present) in deferment?
Continue to enroll at least at half-time status (5 credits per semester). Asbury Seminary regularly transmits enrollment information to the National Student Clearinghouse. If your lender uses the Clearinghouse to verify enrollments, you will usually not need to send in a paper form. Your lender can tell you if they participate with the Clearinghouse and whether or not they require a paper form.
I no longer need a portion of my loans. What should I do?
Contact your Financial Aid Coordinator. Depending on the timing of your request, you will be given the option to refund or decrease your loan funds.
What happens to my loans if I drop below half-time (less than five credits per semester)?
Dropping below half-time has many effects on your student loans. Please contact your Financial Aid Coordinator prior to making this decision to review your options.
What happens to my loans if I drop classes or fully withdraw mid-semester?
It depends on when you drop/withdraw and how many credits are involved. The full return policy can be found here.
How can I keep track of my student loans and get the contact information for my lenders?
The National Student Loan Database System houses all federal student loan information. You will need your social security number, date of birth, and an FSA ID to access your information. The FSA ID can be requested at https://fsaid.ed.gov/npas/index.htm.
What if I have trouble repaying my loans?
Always contact your lender for repayment options (preferably by telephone). You may be eligible for deferment, forbearance, consolidation or an extended payment plan.
How many credits do I need to take to stay eligible for financial aid?
The minimum for student loans is five credits per semester, which is half-time status. For scholarships, each award has its own requirement. Many of them require full-time status, which is nine credits or more.
Is financial aid available for the summer?
Yes, if you take at least five credits during the summer, you may be eligible for a portion of your aid. If you take less than five credits, contact your Financial Aid Coordinator for options.
What is the beginning and end of each financial aid year?
The financial aid year begins July 1 and continues through June 30.
How often do I need to apply for financial aid?
All student loans and most scholarships require an annual application submission. You will receive a Financial Aid Packet each year with the documents you are required to complete.