10.0 Financial Policies and Procedures
10.1 Payment and Refund Policy: Students are expected to meet tuition, fees, library, and other obligations when they are due. Students will not be allowed to have transcripts or other information released, or graduate if money is owed to the Seminary. Students will be allowed to register for courses but will not be able to start a course until all outstanding balances are paid.
- Non-degree seeking students who do not pay tuition, such as auditors, must pay any tuition/fees for work done “off-campus” for which the Seminary is charged, such as CPE and AMERC. The Seminary will not cover these costs.
- Bills with clear due dates are provided. One reminder will be sent within 30 days of the due date; a late fee is imposed. If payment is not made within 10 days of the reminder, the Registrar’s office is notified of the delinquent status and the penalties noted above will be imposed.
- Payments will be accepted in cash, by check or credit card (Master Card, Visa, and Discover) .
- Refunds are provided for tuition and fees if the student drops courses by the published deadline. There are no refunds for withdrawn courses or late fees.
10.2 Tuition and Fees: Tuition, student activity fee, institutional fee and fee for course audit are subject to change each academic year. Students are encouraged to contact the Business Office for current information.
10.3 Financial Aid: Financial aid is available to students who file the Free Application for Federal Student Aid (FAFSA). Aid in the form of grants and student loans is available to qualifying students. The FAFSA can be filed online at www.FAFSA.ed.gov. Students should request that a copy of the processed results be sent to LTS by entering the school code G01971. For additional financial aid and scholarship information, students should contact the Office of Admissions. Students on probation receive no financial aid.
- Each Disciples of Christ or United Church of Christ M.Div., M.T.S., or Special student who has been an active member of a Disciples of Christ or UCC congregation for a year or longer and who is under care of his/her regional commission on the ministry will receive a scholarship of 50% of tuition cost for the M.Div. degree for up to seven years and for the M.T.S. degree for up to five years. Students who retake any coursework because they have failed the coursework will receive no scholarship aid for that coursework.
- LTS provide up to 10 full-tuition scholarships for outstanding M.Div. students. These scholarships will be given for a maximum of four years.
- The 10 full-tuition scholarships will be offered at a rate of two or three per year to students. These scholarships will be awarded by the LTS Scholarship Committee to any student, regardless of denomination, who meets the criteria for “potential for excellence in ministry” as described in the scholarship application section of the LTS general application. No criteria beyond a record of past academic success, exceptional promise for a future in congregational ministry and the ability to successfully complete a minimum of 12 credit hours per calendar year apply to these scholarships. The scholarships are available for four years only and are non-renewable.
- Disciples of Christ students and UCC students who receive these full-tuition scholarships will not simultaneously be eligible for the 50% tuition scholarship listed above.
- LTS will no longer provide stipends to any students, only tuition support.
- No scholarship aid will be provided to non-credit certificate students or auditors.
- Students who retake any coursework because they have failed the coursework will receive no scholarship aid for that coursework.
- The LTS Scholarship Committee will meet twice yearly, in July and January, to review applications for the full-tuition scholarships.
- Guaranteed Student Loans: Guaranteed student loans are available to Lexington Theological Seminary students. Application forms are available from the Director of Accounting.
- VA Loans: LTS is an approved school for students who qualify for Veterans Administration Benefits.
10.3.3 Travel Funds: Lexington Theological Seminary is privileged to have funding for student travel from a number of sources. A student may receive one major travel grant during her/his years at LTS. The quality of the application will have significant bearing on the awarding of grants.
Students who wish to apply for funds in the current academic year must consult with the Office of the Dean for more information.
10.4 Billing Errors or Inquiries: All billing inquiries should be made of the Business Office. Inquiries may be made in writing or in person.
10.5 Returned Check Policy: A student whose check is returned to the Seminary for insufficient funds will be charged a $50 returned check fee for each check returned. If a second check is returned for insufficient funds the student will be denied check payment privileges for their remaining time at seminary.