Pursuing a graduate degree involves a commitment of faith, time and financial resources. Only you can manage the faith and time commitments, but Bethany can assist you with financial resources. Bethany's financial aid program helps to fund graduate education while ensuring financial assistance for future generations of church leaders. Bethany Theological Seminary is guided by a partnership vision that interconnects the church, the student and the school. This vision shapes the way Bethany relates to ministry as well as the way Bethany's financial aid programs are designed. Each partner shares resources to provide financial assistance so that students who have limited resources are able to avoid undue financial pressure, excessive employment or unmanageable indebtedness. Bethany's financial aid has several components to it which can often be combined together for maximum benefit. The components are the Alumni/ae Covenant Grant, the Brethren Student Scholarship, need-based aid and federal loans. A brief description of each follows. More information and details on the limitations are available from the financial aid office.

Alumni/ae Covenant Grant: The Alumni/ae Covenant Grant is available to degree seeking students in the MATh, MDiv and CATS programs. A covenant is a written agreement or promise usually under seal between two or more parties especially for the performance of some action. The biblical usage of covenant was derived from ancient secular usage, where covenant meant a binding and solemn agreement between two or more parties. Out of this faith history of covenant and the desire to prepare people for Christian ministry, Bethany offers the Alumni/ae Covenant Grant. Bethany covenants with the student to provide theological education and the grant, which covers 50% of tuition for classes taken at the Richmond campus. The student, in receiving the grant, covenants with the seminary to support Bethany financially after leaving the seminary and securing an income-producing vocation.

Brethren Student Scholarship: The Brethren Student Scholarship is available to students who have been members of the Church of the Brethren for at least one year. With the partnership between the church, students and Bethany, students receiving the Brethren Student Scholarship participate in the Tuition Assistance Program (TAP). The TAP program asks students to support the seminary's day-to-day operations by assisting the faculty and staff to preform their duties. Students contribute service hours in exchange for a scholarship to cover 50% of their tuition for classes taken at the Richmond campus. Generally, four TAP hours are contributed for every credit hour in which they enroll.

Need-Based Aid: Degree students from other faith traditions (those not members of the Church of the Brethren), may apply for need-based aid. Financial need is defined as the difference between the total cost of attending a particular institution and the amount of resources available to the student. Need based aid covers 25% - 50% of tuition for classes taken at the Richmond campus. It can be combined with the Alumni/ae Covenant Grant to cover up to 75% of tuition, which is the cap for ecumenical students.

Federal Loans: Bethany participates in two federal loan programs: the Stafford Loan program and the Perkins Loan program. Through these programs, students who demonstrate need are able to secure low interest loans. Bethany uses an internal application and the Free Application for Federal Student Aid (FAFSA) to determine student ability to pay. If it is determined that you are eligible to borrow federal funds, you can complete a Stafford Loan promissory note.

Entrance Counseling: All students must complete entrance counseling before they can borrow federal loan funds. If you are completing a promissory note online, the process will require you to do the entrance counseling. If you complete a paper promissory note, you still can do your entrance counseling.

Exit counseling: All borrowers who withdraw or graduate must complete an exit interview. If you do this online the results will automatically be reported to Bethany's financial aid officer. Begin this process online.