Student Loans

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, Signature, 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.


Private Student Loans

Alternative loans are non-federal loans offered by lending institutions to assist students in meeting their educational expenses.  They are also referred to as private education loans.  Interest rates and fees are generally determined by the credit-worthiness of the borrower and/or co-signer.

NOBTS does not participate in a preferred lender arrangement.  Below is a list of lenders that we have the most experience with when processing the private alternative loans. The NOBTS Financial Aid Office and its staff do not endorse or accept any incentives, financial or otherwise from any lender.  Lender information is provided as a courtesy and in no way should it be interpreted as a requirement to use one of the lenders listed below.  Your reasons for selecting a particular lender should benefit you, the borrower. NOBTS will process loans from any lender that participates in any educational loan program. We encourage you to do your homework and consider a number of lenders before deciding on one.

Alternative Student Loans

Some denominations, corporations, and community organizations provide student loans. NOBTS does not endorse or partner with any of the loan providers listed here, however, students may contact these providers directly to find out more information. Contact the Financial Aid Office if you encounter questions or concerns while pursuing one of these alternative loan options.


Loan Process from Another Organization or Bank
  • You can apply for a Private (Educational) Loan through your chosen bank or 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.
Updated Loan Certification Process

The Financial Aid Office and PREP are partnering to implement an altered process for loan certification. Students requesting their fourth student loan or student crossing the cumulative $10,000 loan threshold will trigger the updated loan certification process:

  • Step 1: When request for a fourth loan or crossing the cumulative $10,000 threshold, students will be required to attend three meetings with PREP Staff to discuss spending tracking, creating a personal budget, and prepayment planning. 
  • Step 2: When request for a fifth loan or over $12,500 threshold, students will be required to complete a Compass group in person or in an online format.
  • Step 3: When request for a sixth loan or over $15,000 threshold, students will be required to meet with a professional financial planner in their area through the Kingdom Advisors partnership.