About Student Loans

Basic Information about Student Loans

NOBTS does not offer a loan program through our institution, but we do work with independent financial institutions that offer Private (also often called Smart Option or Educational) Loans.  Important: NOBTS does not accept any Federal loans including Stafford loans and Pell grants, though your current Federal loans can continue to be deferred while you attend NOBTS.

*Each student who applies for a loan must complete this form and mail (3939 Gentilly Blvd, New Orleans, LA 70126), fax (504-816-8437), scan/email (financialaid@nobts.edu), or hand-deliver it to the Financial Aid Office declaring how the loan will be utilized.  This form allows the Director to certify that your loan is for educational purposes only and ensures the we maintain appropriate records as an institution. Educational purposes may include: tuition, fees, books, and some living, commuting, and/or additional educational expenses. The Finanical Aid Office recommends that you only take out a loan for one semester, or at most one year, at a time.

*Once money from a loan is placed on your NOBTS account, any immediate balance, such as tuition, fees, and rent, will be paid first.  Any credit that remains can be distributed to the student to cover other expenses approved during the loan certification process.

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Sallie Mae Smart Option Loan

We are now able to process the Smart Option Loan through Sallie Mae. Below is a link to their website and step-by-step instructions on how to apply.

1. Go to https://opennet.salliemae.com/apploansummary/?school_id=00201900

2. Choose the right hand column and register as a first time user.

3. After accepting the Terms and Conditions, enter your profile information to create an account.

4. Select the Start a Loan link.

5. Select the Start a Private Loan link.

6. After applying for a loan, contact the Financial Aid Office to declare how your requested loan amount will be utilized.  The Financial Aid Director will then consult with you regarding this request, after which time your loan will be certified.

***Do not apply for a Graduate PLUS Loan or any other loan that is dependent on federal funding.  NOBTS is not able to accept federal funding, and your selection of the wrong type of loan will significantly increase the amount of time required to process your loan.  Only apply for Private (also often called Smart Option or Educational) Loans.

The website will take you step-by-step through the rest of the application process. You will also be able to sign your application using the e-signature feature.  If you have any questions, you can contact the Financial Aid Office (504.282.4455 ext. 3348) or Sallie Mae (888.272.5543).

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Loan Process from Another Bank

  • You can apply for a Private (Educational) Loan through your chosen lender.
  • The lender checks your credit and either approves or denies your loan application.
  • If your application is approved, the lender sends the Financial Aid Director a request to certify the loan.
  • After applying for a loan, contact the Financial Aid Office to declare how your requested loan amount will be utilized.  The Financial Aid Director will then consult with you regarding this request, after which time your loan will be certified.
  • Once the Director certifies the loan, the lender will mail the loan check directly to NOBTS or direct deposit the funds directly to the Seminary.
  • We will contact the student to endorse the check if needed and it will then be deposited into the student’s NOBTS account.
  • If the loan creates a credit on the NOBTS account, the student can contact the Financial Aid Office to request a check for some or all of the credit.

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Information on Educational Loans through Private Organizations

Loan Name/Originator. American Baptist Church of the USA Graduate Loan

Who is Eligible? Graduate Students

Loan Amount. $1,000.00 per year. Repayment (over six years) begins, and interest starts to accrue, six months following graduation or conclusion of studies. (See address under grant)

Application Deadline. May 31

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Loan Name/Originator. American Baptist Church of the USA Undergraduate Loan

Who is Eligible? Undergraduate students.

Loan Amount. $500.00 per year. Repayment (over six years) begins, and interest starts to accrue, six months following graduation or conclusion of studies.

Application Deadline. May 31

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Loan Name/Originator. American Baptist Churches

Who is Eligible? Graduate students; repayment begins, and interest starts to accrue, six months following graduation or conclusion of studies.

Application Procedure. Write to:

American Baptist Churches
American Baptist FA Program
Valley Forge, PA 19482-0851

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Loan Name/Originator. Bill Raskob, Inc.

Who is eligible? Must have completed one year of study; low interest loans for students

Loan Amount. $1,000-$3,000

Application Procedure. Write to:

Bill Raskob, Inc.
P.O. Box 4019
Wilmington, DE 19807

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Loan Name/Originator. Grand Encampment Knights Templar Educational Foundation Loan

Who is eligible? Should be legal resident of the Division (state) to which application is being made (if address is unknown, use address above); based on scholarship, character, and dependability; loans are repaid, following graduation with 5% interest.

Loan Amount. $3,000 per year, for up to 2 years

Application Procedure. Write to:

Grand Encampment Knights Templar
Educational Foundation
5097 N Elston, Suite 101
Chicago, IL 60630

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Loan Name/Originator. Hattie M. Strong Foundation Loan

Who is Eligible?The foundation administers loans to students in their final year of study in a baccalaureate or graduate degree program. Loans are interest free, with no collateral. Repayment is based on monthly income after graduation.

Loan Amount. Maximum of $2,500

Application Deadline. Applications are mailed to students January 1 - March 31.

Application Procedure. Write to:

Hattie M. Strong Foundation Loans
1620 Eye St., N.W., Suite 700
Washington, DC 20006-4005

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Loan Name/Originator. Student Aid Foundation Loan

Who is eligible? Women, must be residents of, or attend school in, Georgia, who have above average academic ratings, and who are in need of financial assistance. For full-time students. No interest while in school. 6% interest is charged beginning three months after school. After three years interest goes to 12% on balance of loan. For one academic year. Renewable for three additional years. Approximately 35 awards each year. May reapply for additional years.

Loan Amount. $2,500 (undergraduate) and $3,000 (graduate)

Application Procedure. Write to:

Student Aid Foundation Loans
2520 E. Piedmont Rd., Suite F-180
Marietta, GA 30062

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Loan Name/Originator. United Methodist Church Board of Higher Education and Ministry Student Loan

Who is eligible? Must have membership in United Methodist Church ; must be a citizen or permanent resident of US.

Application Procedure. Write to: United Methodist Church Board of Higher Education and

Ministry Student Loan
PO Box 871
Nashville, TN 37202
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