A Direct Loan is a low-interest loan funded with monies from the U.S. Treasury which students may borrow while attending school and begin repaying once they graduate or drop below the half-time status of taking at least 5 hours per semester.

Congress establishes the interest rate, which is currently 6.6% for loans disbursed after July 1, 2018. The interest and principal repayments are deferred as long as the student remains on at least half-time status in an approved degree program and provided the loan was issued after July 1, 1987.

Financial Aid is available to assist students and their families by providing options suitable for their financial status. For more information on the specific forms of financial aid available, contact the office at 800–992–0998.

5 Step Process to Request a Loan:

  1. Complete a Free Application for Federal Student Aid (FAFSA): You may apply on-line at http://www.fafsa.ed.gov. Please use the provided link to access the site directly. You should not have to pay anything to submit the application. The school code for DTS is G03562. A Student Aid Report (SAR) is generated upon completion of the FAFSA. Be sure to make all the necessary corrections (as applicable, according to the comments section of your SAR). DTS will receive a copy of your SAR electronically if you have submitted our school code.  Your loan cannot be processed until all specified corrections are made.  The DTS Financial Aid Office strongly encourages applicants to select the option to allow the FAFSA to retrieve your IRS data. Doing so will save you time by eliminating the need for DTS to request additional tax forms from you at a later date if selected for verification.
  2. Submit a Loan Request Form: The form is only available online. No paper applications will be accepted.
  3. Complete an Electronic Master Promissory Note (eMPN): The form is available online at https://studentaid.gov/mpn/. Once completed, an eMPN is valid for up to ten years.
  4. Complete an Entrance Counseling: If this is your first time borrowing at DTS, you must complete an Entrance Counseling at https://studentaid.gov/entrance-counseling/. This needs to be completed, even if you have borrowed loans at a different school. Entrance Counseling only needs to be done one time while you are using loans at DTS.
  5. Complete the Annual Student Loan Acknowledgement: DTS prefers that all borrowers of Federal Direct Unsubsidized loans complete the Informed Borrowing Confirmation process once each award year before their new loan will disburse. This is to help borrowers understand their loans and how they affect their financial future. To complete the Annual Student Loan Acknowledgement, go to Federal Student Aid: Annual Student Loan Acknowledgement and click the “Log-In to Start” button by “I am a Graduate or Professional Student”.  You will need your FSA ID to login.

    The completed information is submitted to the Department of Education for processing.  This information will be sent to DTS.

After all required items have been submitted (complete, with no required corrections), your loan will be ready for DTS certification, the process of determining your eligibility for funds. Please allow 4-6 weeks for processing. You will be notified by email when your Direct Loan has been certified.  You will also be notified by email when the funds arrive at DTS. Contact Financial Aid with questions: [email protected] or 214-887-5087.

Direct Loan Eligibility Requirements

  • Enroll in a Degree Program (Certificate, Non-Degree, and DMin/DEdMin students are not eligible to for Direct Loans)
  • Register at least half-time in required classes (5 hours Fall or Spring, 3 hours in Summer for Masters and 3 hours for PhD) in each semester you are requesting a loan disbursement.
  • Take classes at an eligible location:
    • Dallas
    • Houston
    • Washington, DC
    • Atlanta (Passion Institute)
    • Online
  • Maintain a 2.0 or higher GPA
  • Maintain Satisfactory Academic Progress (SAP), including completing the minimum number of hours required for your degree program each academic year (fall, spring, summer):
    • ThM 15 Credit Hours
    • MAC 13 Credits Hours
    • MACP 12 Credit Hours
    • STM 12 Credit Hours
    • All other MA programs 10 Credit Hours
    • MBTS 6 Credit Hours

Direct Loans Frequently Asked Questions

Return of Funds Policy for Title IV Aid (Direct Loan) Recipients Who Withdraw

Currently the only Title IV aid funds DTS awards are the Direct Loan unsubsidized loans. When a student withdraws from DTS before completing 60% of the semester, the student has not “earned” all of the federal financial aid and a Return of Title IV Funds Calculation must be performed.

The Department of Education mandates that students who withdraw from all classes may only keep the portion of federal aid they have “earned” up to the time of withdrawal.

Title IV funds disbursed in excess of the earned amount must be returned by the Seminary and/or the student to the federal government. This situation could result in the student owing aid funds to the Seminary, government, or both.

The following steps will be followed when determining the amount of Title IV federal aid to be returned upon withdrawal:

  1. Determine percentage of enrollment period completed by student. Divide the number of days attended by the number of days (less any schedule breaks of five days or more) in the enrollment period.
  2. Calculate the amount of earned Title IV aid. Multiply the percentage of the enrollment period completed by the total Title IV aid disbursed. If the calculated percentage of the enrollment period exceeds 60%, then the student has earned all Title IV aid for the enrollment period.
  3. Determine amount of unearned aid to be returned. Subtract the amount of earned aid from the total amount of federal aid disbursed.
  4. Return of Title IV funds by institution and student:
    • Amount of Unearned Aid Due from the School – DTS will return unearned Title IV aid up to an amount that is equal to the total institutional charges for the payment period multiplied by the percentage of the Title IV aid that was unearned.  The return of the unearned aid will be return as soon as possible but no later than 45 days after the date DTS determined the student withdrew.
    • Amount of Unearned Aid Due from the Student – The student’s portion of aid to be returned is not immediately required to repay the loan. The terms of the original loan repayment agreement (mpn) will apply.

Unearned Title IV Funds will be returned to the unsubsidized federal direct loan program.

Post-withdrawal disbursements will be made as soon as possible but no later than 180 days after the date the school determines the student withdrew and in accordance with requirements for disbursing Title IV funds.

Written notification to the student providing the opportunity to accept all or part of a Post-withdrawal disbursement of Title IV loan funds will be sent within 30 days of the schools determination that the student withdrew.

Written notification of student’s eligibility for a direct Post-withdrawal disbursement of Title IV loan funds in excess of outstanding current (educational related charges) will be sent within 30 days of the school’s determination that the student withdrew.

Post-withdrawal disbursement to student for earned Title IV funds in excess of outstanding current (educational related) charges will be made as soon as possible after the date the school determined the student withdrew but no later than 180 days.

Notification to student of outcome of late request for a Post-withdrawal disbursement to the student (request received by school after the specified period and school chooses not to make disbursement) will be made as soon as possible.

If a student withdraws from all classes, the student is encouraged to contact the Financial Aid office before doing so.  The consequences of withdrawing from all classes can be explained to you at that time. A balance due to DTS could result when all classes are withdrawn, scholarships lost due to withdrawing, and unearned aid is returned.

The Seminary reserves the right to amend the Title IV Return of Funds Policy at any time in order to comply with Federal regulations.

Helpful Resources for Repayment