Tuition and Financial Assistance

Download: Financial Policy Brochure 2010-2011
Download: Financial Assistance Application 2010-2011
Resource: Financial Assistance Estimator

Dorm Students

Town Students

General

The goal of Michigan Lutheran Seminary and the Wisconsin Evangelical Lutheran Synod (WELS) is that every student be given the opportunity to prepare for the ministry, regardless of family financial circumstances.

Parents and the WELS share the cost of attending Michigan Lutheran Seminary. The synod bears a portion of the cost since MLS exists to encourage young people to enter the full-time preaching and teaching ministry.

MLS tuition, room, board, and incidental fees are set annually by the governing board. All changes are subject to revision as economic conditions warrant.

Payments

Payments may be made on an annual, semester, or 10- month schedule, with the balance paid in full by the end of the school year.

Charges are to be paid-in-full and on time.

The first payment is due by August 21, 2010. The remaining payments are to be paid by the 25th of each month, September through May. Statements will be mailed or e-mailed sufficiently in advance to allow payment by the 25th. Incidental fees are to be paid promptly during the year as incurred.

Methods of Payment

The preferred method of payment is by EFT (electronic fund transfers), as this is a cost-effective method for the school. Electronic fund transfers can be taken directly from a savings or checking account. Currently we will accept cash, check, VISA, MasterCard, and Discover credit cards. Requests to use credit cards must be made in writing (e-mail will suffice).

Discounts

A discount is given for the annual and semester payment schedules, if paid with cash, check, or EFT. The annual (1 payment) discount is 3% and the semester (2 payments) discount is 2% minus any financial assistance that is received from MLS.

Delinquent Accounts

It is the policy of MLS and the synod that accounts are to be paid in full and on time. Parents with financial difficulties are to contact the business manager BEFORE a financial obligation falls past due. The business manager and president may make arrangements for special circumstances. Personal information is kept confidential.

Accounts past due are charged interest at the prevailing rate on the balance due. The rate is presently 7% per year or 0.58% per month.

MLS charges $20 for checks, EFT, or credit cards returned for non-sufficient funds. We will also pass on any bank charges that incur because of this.

A student with a delinquent account who has not made special arrangements with the business office is subject to suspension and/or termination of enrollment by the president. A student may not be readmitted for a new semester if an account is delinquent and satisfactory arrangements with the school have not been made. A student may not attend any pre-school athletic camp, and automobile privileges are revoked when a student's account falls delinquent.

Note: Graduates and students, who leave MLS, are issued a transcript only when their accounts are paid in full.

Past due accounts may be assigned to an outside agency for collection. A senior must have all financial obligations paid in full in order to receive a diploma at graduation.

FINANCIAL CONSULTATION & SERVICE

Questions about financial matters are to be addressed to Mr. Paul Shonts, business manager, 2777 Hardin Street, Saginaw, MI 48602. Telephone (989) 793-1393 or e-mail pws@mlsem.org. Regular business hours are 8 a.m. to 4 p.m.

Mrs. Jan Holtz manages student accounts receivable activities. Telephone (989) 793-1041, ext 264, or e-mail jeh@mlsem.org.

Mrs. Diana Finkbeiner is the MLS financial assistance counselor and manages financial aid, travel grants. Telephone (989) 793-1041, ext 225, or e-mail dlf@mlsem.org.

FINANCIAL ASSISTANCE

Grants from the WELS Student Assistance Fund, from several testamentary trusts, and from gifts to the school are available to students who qualify. Grants are made on the basis of financial need and the degree of interest a student has in the preaching or teaching ministry of the WELS.

Financial assistance is offered toward the payment of tuition. Cash credits covering the use of a dormitory room may be made in cases of extreme need, but the recipient’s parents must report such cash credits as taxable income.

Applications are mailed to each student currently receiving financial assistance and upon request to any other student or prospective student. Applications deadlines are March 15th or May 1st, 2010. Those who file by March 15th will receive a preliminary estimate of financial aid in early April. Actual aid amounts will be announced in early June. Late applications will be considered only if funds are available and may be reduced as much as 10%.

A committee composed of the president, recruitment director, business manager, dean of students, a member of the faculty, financial assistance counselor, and an MLS board member administers the financial assistance program at MLS.

Financial assistance is distributed according to each student’s selected payment plan.

TRAVEL GRANTS

Travel grants are available for students who qualify. All travel grants are based on financial need and distance traveled. Students must apply for travel aid using the MLS financial assistance form. Applications must be received at MLS by May 1, 2010. Grants are distributed in early December as a credit to the student’s account.