Ministry Incentive Forgiveness Program
Each February you will be sent a letter from the financial aid office asking you to indicate where you are employed and in what capacity. This form will require a signature from the recipient and a representative of the Council of the church holding his or her ministerial credentials. The completed form must be returned to CTS by the stated deadline.
If you meet the following criteria, you will qualify for a 5% forgiveness in the original total loan principal each year for ten consecutive years.
- Graduated from one of the professional degree programs (MDiv or MA) of Calvin Theological Seminary.
- Employed at least half-time, in an ordained ministry position, in the Christian Reformed Church in North America.
- Loan repayments to University Accounting Services or any other vendor utilized by CTS must be current.
- Zero balance on the Calvin Theological Seminary student account upon graduation or payment arrangements made in writing with the Financial Services Office.