Student Loans

Direct Unsubsidized Stafford Loan

Post-Baccalaureate students are eligible for unsubsidized loans only. The federal direct unsubsidized loan program is not need based and provides loans based on the student’s total cost of attendance and anticipated financial assistance. Applicants for this loan program must be a U.S. citizen or eligible non-citizen

The interest rate on a Direct Unsubsidized Stafford loan is currently 5.31% with an origination fee of 1.06%. (For loans first disbursed between July 1, 2016 and June 30, 2017.)

Interest on these loans begins to accrue immediately after disbursement and will continue through an in-school deferment and any grace period. You may make payments on these loans at any time or you may allow the interest to accrue on the loan. If you do not make payments while in school, the interest will capitalize at the end of your grace period. Repayment will begin six months after your last date of attendance.

Applying for a Direct Unsubsidized Stafford Loan

Before receiving a Direct Unsubsidized Stafford Loan you must complete the following:

  • Be accepted into one of the following residential programs: MDiv, MDiv Alternate Route, MA, MA Deaconess, STM or PhD. DMin, SMPAR and Modular students are not eligible for Federal Student Loans.
  • Complete your Concordia Seminary Financial Aid Application
  • Complete a FAFSA (Free Application for Federal Student Aid)
  • Receive an award letter from the Financial Aid office.
  • Be enrolled at least half time
    • MDiv/Alternate Route = 4.5 credits per term
    • MA/MA Deaconess = 4 credits per term
    • STM/PhD = 3 credits per term
  • Complete a Loan Request Form
  • Complete your Entrance Counseling online
  • Complete a Master Promissory Note

Loan Request Forms must be completed each time that you borrow and will verify the amount that you are requesting. Entrance Counseling and Master Promissory Notes only need to be completed before your initial loan with the Seminary. This process will make you aware of your rights and responsibilities as a borrower. If you have completed a Master Promissory Note within the last ten years, please contact the Financial Aid office to determine if you will need to complete an updated Note.

How Much Is Available?

Concordia Seminary recommends borrowing only the funds needed to meet expenses while attending. The federal aggregate amount that a student is allowed to borrow per year is $20,500 or an overall total of $138,500.

Before taking on student loan debt, think carefully of the effect of debt on your future ministry. Representatives in the Financial Aid Office or the Financial Education and Wellbeing Office are happy to counsel you regarding your student loans and finances.

Direct Grad PLUS Loan

If you have exhausted your Direct Unsubsidized Stafford Loan eligibility, you may be eligible for a Direct Grad PLUS Loan.

Initial eligibility is determined through a credit check performed by the U.S. Department of Education. If approved, you will need to complete a loan worksheet, provided by the Financial Aid office. We will then determine the amount that you are eligible for based on your cost of attendance and other aid received or anticipated.

The interest rate for a Direct Grad PLUS Loan is 6.31% with a 4.276% origination fee (for loans first disbursed between July 1, 2016 and June 30, 2017). Interest will begin to accrue immediately on this loan, and will continue through any in-school deferments or grace periods. Repayment will begin 60 days after your loan is disbursed. You will need to complete a separate Entrance Counseling and Master Promissory Note for this loan. These forms can be found at


Student loans are typically divided into three equal payments, once at the beginning of each term. If you will be attending summer courses, please indicate this on your loan request form so that we can include the summer term in your disbursements. In order to be eligible for loans, you must remain enrolled at least half time in each term.

Loan disbursements may be cancelled at any time. If you wish to cancel or reduce a future disbursement, a request must be made in writing to the Financial Aid office. The request must include the date, your name, the type of loan and the amount that you would like cancelled or reduced and your signature.

Concordia Seminary students continue to be blessed with monetary gifts and donations from various outside organizations, individuals and congregations across the country. In some cases, the amount of outside financial assistance may limit your eligibility for student loans.

Additional Information

Go to for additional information pertaining to repaying your student loans.

Go to to keep track of your student loans. You will need your FSA ID to log in.