SUM students have access to many forms of aid, including grants, loans, and scholarships to help make tuition affordable.
SUM Bible College and Theological Seminary offer low tuition. Financial aid is available should students need assistance. Below are some of the financial aid programs available.
- Grants
- Loans
- Parent PLUS Loans
- Work-study programs
- Scholarships
- Veteran’s Benefits
Federal Grants
Unlike loans, grants do not need to be repaid. Two types of Federal grants available are:
- Federal Pell Grant
- Federal Supplemental Educational Opportunity Grant
Federal Student Loans
Federal Stafford Student Loans
Federal Stafford student loans are a form of financial aid that must be repaid either after a student has graduated or when the student has stopped attending classes at least half-time (6 credit hours). There are two types of Federal Stafford Student Loans: Subsidized and Unsubsidized. SUM also provides the Parent Loan for Undergraduate Students (PLUS).
ALL FIRST-TIME BORROWERS AT SUM MUST COMPLETE A MASTER PROMISSORY NOTE AND COMPLETE LOAN ENTRANCE COUNSELING AT: www.studentaid.gov.
Federal Student Parent PLUS Loan
The Federal student PLUS loan can be borrowed by parents of dependent undergraduate students or graduate students to help pay for the student’s education.
Parents: Apply for a Parent PLUS loan by completing an online Parent Plus Loan Application at www.studentaid.gov.
Work-Study
Federal Work-Study (FWS)
FWS is a need-based financial aid program designed to assist students with employment opportunities on campus or within the community. Funds are limited. This is a regular paid position in which a student will receive a bi-weekly paycheck. The FWS earnings are taxable but excluded in the need calculation on the FAFSA.
Veterans Benefits
From federal tuition assistance to the Montgomery GI Bill and Post 9/11 GI Bill, there are many ways for active-duty service members, veterans, and their dependents to get financial support to help pay for their tuition at SUM Bible College & Theological Seminary. Our Financial Aid office will help you understand the military and veteran funding available to you.
Vocational Rehabilitation
Vocational rehabilitation (VR) programs are state-run, federally state-run programs that offer a way for people with mental and physical disabilities to get the help they need to become more independent and go back to work.
Scholarships
A scholarship is a form of “gift” assistance you can apply for that does not have to be repaid. Scholarships may be counted towards your total financial aid award package and used to meet your financial need.
For more information, please visit: https://www.sum.edu/financialaid/types-of-financial-aid/