Financial Aid

BMA Seminary seeks to make seminary possible for anyone, regardless of their financial abilities.

However, obtaining a seminary education is a serious financial commitment. Here you can find information on how much seminary costs and various ways that you can find financial assistance that will make seminary possible for you.

Ultimate Provider

At BMA Seminary we know that the Lord who owns the cattle on a thousand hills has enough money to pay for your seminary education. As you consider the financial aspects of seminary, we encourage you not to forget the most important resource you have: prayer.

Scholarships

All students at BMA Theological Seminary are assisted by the churches of the BMA of America. Since a significant portion of the costs of seminary education are met by generous donors and supporters, this enables tuition to remain as low as possible for all students. This is, in effect, a significant scholarship.

Any student who qualifies for enrollment in BMA Theological Seminary is eligible to apply for an academic scholarship. A student who wishes to apply for an academic scholarship should contact the Dean’s Office. Scholarship funds will be granted or denied, based upon the need of the individual student as revealed by the application, and the availability of funds, as determined by the Scholarship Committee.

Federal Student Aid

Pell Grants

Undergraduate students (B.A.R. and A.Div.) who have need of assistance in order to continue their education may make application for a Pell Grant. Students who can show need may qualify for grants up to $5,920 per year.*
Funds received through this source must be used for educational expenses. Application for Pell Grants must be completed accurately at fafsa.ed.gov. If a grant is awarded, the funds will be disbursed by the Business Office.

*2017-2018 maximum award amount. Figures are adjusted annually by United States Department of Education.

Student Loans

Both undergraduate and graduate students who have need of assistance to continue their education may make application for a student loan at fafsa.ed.gov and at studentloans.gov. Students must complete items at both sites as well as a Loan Request Verification form from the Dean’s Office. Loan limits apply per a student’s degree and year of study.

Disbursement

All Pell Grants are disbursed at the beginning of each enrollment period (usually near October 1 and March 1), one-half at the beginning of the fall semester and one-half at the beginning of the spring semester.

Student loans are disbursed in four payments throughout the academic year. Normally, one-fourth of payments are disbursed at the beginning and near the end of the fall and spring enrollment periods.

Seminary policy requires that all aid be used first to pay tuition, fees, housing costs, or other institutional expenses.

Veteran’s Administration

The Seminary has approved programs for students who receive educational assistance allowances from the Veteran’s Administration. Contact the Dean’s Office for details.

Payment Plans

Students are to pay their tuition and fees in full upon registration. However, when severe financial difficulties exist, the student may make other arrangements with the Business Manager. All installment payment plans are subject to a Payment Plan Fee and must be approved by the Business Manager. The following guidelines shall apply:

For a student who has enrolled in a regular semester of studies:

100% of fees and books due at registration
25% of tuition due at registration
25% of tuition due on the 15th of the next three months following registration

Motion Course: when taking one course only

100% of tuition, books and fees upon registration

Motion Course: when taking more than one Motion course during a summer or winter session;

60% of tuition for all sessions plus registration fee due at registration (a single registration fee is charged for all sessions)
40% due by start of second Motion course
100% of books due at registration upon purchase

A student is not officially enrolled in any class until he or she has either paid tuition and fees in full or signed a tuition contract that has been approved by the Business Manager.

Failure to pay tuition payments when they are due will result in dismissal from the Seminary. Students will not be allowed to attend classes or access Moodle until matters are settled with the seminary business office. Late tuition payments are subject to a Late Payment Fee and students may have to pay a Moodle Reinstatement Fee to regain access to their courses. Great effort will be made to avoid legal actions for collection of funds owed to the seminary. Students are expected to meet their financial obligations to the seminary in a timely and Christian manner.

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