Work Study and Student Loans

Employment

Wartburg offers a variety of on-campus community service work-study jobs for students. Students may work up to 5 hours or 10 hours a week to offset the cost of theological education. Position descriptions are available in the Financial Aid Office or from your supervisor. Additional non-federal work study employment is also available on campus to interested, qualified parties.

Loans (See Helpful Links and Websites)

WTS graduate student loan average indebtedness for 2016 was $20,808 (debt range $0 to $65,000). In May 2016, 23 WTS MDIV students graduated with average educational debt (undergrad through grad) of $34,647 (debt range $0 to $106,500). There were 3 students with no graduate school debt.

However, student loans are likely a portion of financial aid packages for eligible students. The following types of loans may be available to you:

Federal Loan Programs:

William D. Ford Direct Stafford Loan Program
Stafford Loans are available to students who have eligibility established with FAFSA. Unsubsidized Stafford Loans are federally guaranteed loans and available for up to $20,500 per academic year at a fixed 5.84% interest rate (for loans disbursed on or after 7/1/2015 and before 7/1/2016) and a 6 month grace period upon completion of degree or enrolling at less than 1/2 time. Interest begins accruing upon disbursement and can be paid monthly or the interest is capitalized when the loan enters repayment, grace period or after deferment.

Federal Perkins Loan Program
Perkins Loans are awarded to students with the highest need based on FAFSA results. Perkins Loans have a 5% fixed interest rate and a 9 month grace period upon completion of degree or enrolling at less than 1/2 time. Interest is paid by federal program while student is enrolled. Availability varies based on annual federal allocation. Perkins loans are serviced by University Accounting Service.

Graduate PLUS Loan Program
GradPLUS loans have a 6.84%  fixed interest rate (for loans disbursed on or after 7/1/2015 and before 7/1/2016) and are guaranteed by the federal government. The GradPLUS loan is a non-need credit based loan similar to a private student loan with the benefit of having a fixed interest rate and federal guarantee. The GradPLUS loan allows graduate students to borrow the total cost for their graduate school needs not met by other loan programs, including tuition, room and board, supplies and travel, less any other aid.

Institutional Loans

ANB Loan Program
The ANB Loan is an interest free loan awarded to eligible senior MDiv students. The ANB Loan has a 0% interest rate and a 13 month grace period with $50 monthly payments expected until loan is repaid.