Financial Assistance
Purposes and Principles
The Financial Aid program of ESR is designed to assist students who have limited resources to meet their educational expenses. Within the financial aid policy established by the Dean of ESR, financial aid awards are based on information supplied by the student. The Director of Recruitment and Admissions awards full-tuition scholarships. The Business Manager determines a student’s eligibility for need-based aid and Federal Student Aid (FSA) loans.
ESR’s educational program is highly subsidized by the types of financial aid described below. However, some students are able to finance their share of education costs without our assistance. Others develop a package of support that typically includes a combination of scholarship funds from ESR or denominational resources, part-time work, loans, and other sources of external support. It is ESR’s hope that each student will be able to work out a plan that avoids undue financial pressure, excessive employment or unmanageable indebtedness.
In calculating financial need for grant purposes, ESR assumes that the first contribution to a student’s resources is personal income, whether through savings or part-time work. Not all students work, nor does ESR necessarily encourage part-time work, though some students must work. Others choose to borrow in place of part-time work. Experience has shown that students seldom can carry a full academic load and work more than 20 hours per week.
Eligibility
ESR offers annual full-tuition scholarships, with preference given to qualified Quaker students who demonstrate strong leadership and ministry potential. Through the Cooper Scholar program up to two years or 54 credits of tuition may be received, after which students may apply for need-based aid. In addition, ESR offers grant assistance to students on the basis of financial need. Except in cases of exceptional need, grants are generally limited to a percent of tuition charges.
All ESR scholarships and need-based aid, as well as FSA loans, are available only to degree-seeking students. Full-tuition scholarships are offered to full time residential students. Need-based aid and FSA loans are available to students taking a minimum of six credit hours per semester. Priority for grants is given to students with dependents, with heavy loan burdens from undergraduate or other graduate schools, and/or students who do not have a source of significant income or other resourced.
ESR aid and FSA loans, when combined with other student resources, may never exceed the Cost of Attendance (COA). ESR sometimes offers part-time, minimum-wage clerical and reception desk positions. The Business Manager maintains information on private sources of grants and scholarships and is available to assist you in many ways. This information is also available on our web site.