Moody provides an affordable, Bible-centered education that equips ministry practitioners for leadership and influences the body of Christ worldwide through its undergraduate, graduate, Distance-Learning (online) and Mission Aviation schools.
Thanks to the generosity of our donors, every undergraduate student on the Chicago campus enjoys the benefit of having their tuition paid by the Chicago Undergraduate Tuition Grant, a generous award worth up to $10,000 per year, leaving the student's responsible to cover the remaining costs for room and board, fees, and other additional expenses.
Students studying in Moody's graduate (Seminary), Distance-Learning, and Mission Aviation schools have to cover their full costs of tuition, plus room and board, fees, and other expenses related to achieving their degree.
Gifts given through Moody's Scholarship program help students meet these expenses so their focus can be on studying God's Word and gaining the valuable training they need to be effective in ministry. This can make all the difference for some, providing access to training and a quality Christian education that might otherwise be out of their reach.
Additionally, Moody does not charge an administrative fee to manage the scholarship fund, meaning more money goes directly where you intended….to the students who need it most!
What is a Scholarship?
Scholarships are funds established by individuals, families, or organizations and groups to provide financial aid to Moody students who have general financial need and who meet the established criteria as put forth by the donor. Through the naming of the established scholarship, the donor has an opportunity to recognize, honor or remember a loved one, friend, or professor.
The individual or group who establishes the scholarship will be informed annually of the scholarship fund's status through a report, as well as receive information from student recipients, which helps to convey the real, immediate, and ongoing impact of the scholarship.
Click here to see a current list of scholarships and their descriptions that have been funded through the generosity of various individuals or organizations who support Moody Bible Institute and our students.
Options for Funding a Scholarship
When considering establishing a scholarship fund with Moody Bible Institute, it is important to consider what option may be best suited for you during this season of life. Some scholarships have endowments as their fund source, while others are funded through a single significant sum or maintained through annual donations.
If you choose to establish an endowed scholarship fund, the gift amount (principal) is retained in perpetuity and will not be spent; the revenue from the endowment provides annual awards to Moody students on an ongoing basis. While each endowed scholarship is accounted separately, each scholarship fund's balance is commingled with other college endowment funds, increasing its potential for investment return while further strengthening its investment potential. A minimum gift of $25,000 is requested to establish an endowed scholarship, thereby creating an opportunity to earn a significant annual award for students.
If you choose to establish a scholarship grant fund, the gift amount (principal) will be disbursed over the lifetime of this scholarship grant until the balance is depleted as per the criteria set forth by the donor, at which time this grant will cease to exist unless further funding is applied to the principal. A minimum gift of $10,000 is required to establish a scholarship grant, thereby creating an opportunity to award a significant annual amount to students for a set number of years.
How are scholarships awarded?
Moody students who complete the scholarship application and can demonstrate financial need are eligible to receive awards from unrestricted scholarships. The Financial Aid office distributes scholarship awards based on the available funds in each scholarship and the recipient's need. Unrestricted scholarships provide the greatest flexibility for assisting students who have financial need.
Distributions from restricted scholarships are made according to the specified requirements of each fund as put forth by the donor. For example, a scholarship might be restricted to a TESOL major, students attending from India, or students preparing for pastoral ministry. Moody's Financial Aid office then makes awards to students meeting the scholarship's stated criteria based on the information provided within the candidate's application, as well as at the referral of consulting faculty and awarding committees. If eligible recipients cannot be found for a given year, award income for the fund is either held over until the following academic year, reinvested back into the restricted scholarship's fund, or awarded to applicants that closely meet the stated criteria (as approved by the donor).
How can I establish a scholarship?
To start the process, it is helpful to speak with Moody's Scholarship Administrator and discuss the preferred criteria. Once approved, a memorandum of agreement outlining the terms of the scholarship will be crafted and sent to the establisher for review, any edits, and a signature to finalize. The scholarship will be initiated and an account set-up at the time the gift to fund is received to the Institute along with the finalized memorandum of agreement.
Scholarships are frequently funded by gifts of cash, as well as transfers of stocks, bonds, mutual funds, real estate, and other types of property. Scholarships may also be funded by a generous bequest.
Additional Options to Consider
It may be that establishing a new scholarship is not a perfect fit for you. Please consider the following options for partnering with Moody's Scholarship Program:
Give to Chicago Undergraduate Tuition Grant
Partner with the Lord and do kingdom work through training the next generation of Christian leaders on Moody's Chicago undergraduate campus. Moody equips students with God's Word to follow Jesus Christ and make disciples around the world.
Each undergraduate student is responsible for room, board, and other fees related to their degree. The yearly tuition cost of approximately $10,000 is paid by the Chicago Undergraduate Tuition grant. Taking out loans during their years of study at Moody could eliminate them from candidacy with a Christian mission agency.
Thanks to our generous ministry partners, full-time undergraduate students on the Chicago campus receive a Tuition-Paid education. Your tax-deductible gift to the Chicago Undergraduate Tuition Grant is applied to tuition costs. This alleviates the burden of debt, allowing Moody graduates to enter into ministry immediately after graduation.
Give to an Existing Scholarship Fund
The Institute and generous donors have already established a number of scholarships intended to assist Moody students. Criteria for awarding can range from simple financial need to preparation for a specific ministry or major. Click here to explore these existing scholarships with descriptions. If you find one that you would like to contribute to, simply select the GIVE option at the bottom of the scholarship description and complete the online form to make a gift to Moody.
To learn more about how you can partner with Moody and our students through the Scholarship Program, please email email@example.com or contact us. We would be happy to assist you and answer your questions.