Student loans
Federal Stafford Loans are available through the William D. Ford Federal Direct Loan Program.
An unsubsidized loan is not awarded on the basis of need. You will be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it will be capitalized--that is, the interest will be added to the principal amount of your loan and additional interest will be based upon the higher amount. This will increase the amount you have to repay. If you choose to pay the interest as it accumulates, you'll repay less in the long run.
After receiving your award notification, you must fill out MTSO's loan request form. Changes in federal loan limits and loan repayment went into effect on July 1, 2026 – see details in the Student Borrower Scenarios outlined here. Note that for new MTSO federal loan borrowers, M.Div. students are now considered professional student borrowers, and those pursuing other degrees are considered graduate student borrowers. Please contact the MTSO Financial Aid office with any questions about these changes.
If you are a first-time borrower at MTSO, you also must complete both the federal government's Entrance Counseling and Master Promissory Note.
A loan repayment calculator is available here, provided by the U.S. Department of Education.