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Biola University
organizations and turn the educational loan over to a collection agency for collection. Should this action be instituted by the University, there will be additional charges for reasonable collection of the balance due. All transcripts and diplomas shall be withheld until the outstanding amount is paid in full. An account is considered paid in full when all checks clear the bank. Refunds: Overpayment Payments to student accounts which result in a credit balance will be refunded upon request, or in accordance with cash management regulations as required by federal regulations for students having federal aid. Requests for adjustments to charges must be made within four months from the date of the student's statement on which the charge first appears. Financial Aid Information The Financial Aid Office at Biola University is dedicated to helping students gain access to Christian higher education, especially those who would be unable to attend Biola without aid. It is our desire to provide financial assistance to students with demonstrated need, within the limits of the University's resources. With this goal in mind, Biola holds to the following financial aid philosophy: We will partner with the student and his or her family to arrange financing for the student's education, using the family's resources, the government's resources, and Biola's resources. Demonstrated need will be measured by a consistent and equitable need- analysis system. To be fair to all students seeking aid, need must be based objectively on a family's financial resources, not their willingness to pay. Special circumstances will be considered on a case-by-case basis, and we will use our professional judgment to determine when adjustments should be made. Biola University does not discriminate on the basis of sex, race, color or national and ethnic origin in administration of its scholarship and loan programs. For further information on any of the items in this section, please visit the Financial Aid Office web site at biola.edu/finaid (http:// offices.biola.edu/finaid). Undergraduate Financial Aid Institutional Aid All students who want to be considered for need-based aid are required to file a FAFSA (or Dream Act Application, for AB540 eligible students). Biola University Award (Biola University Grant for Dream Act students) The University will provide a Biola University Award to students with exceptional need and limited resources. The Biola University Award is based partially on academic performance, incoming GPA (freshmen and transfers) and SAT or ACT scores (freshmen only). A FAFSA application (or Dream Act Application) is required each academic year. Awards are granted on a first come, first served basis, and are dependent on availability of funds. Academic Scholarships ($3,000–$14,000) This is awarded to incoming freshmen and transfer students, based on high school or college GPA, and SAT/ACT scores. Students are notified
Weeks 9–16
0%
Trimester: Part I or Part II Day 1
100%
Weeks 1–2
80% 70% 50%
Week 3 Week 4
Weeks 5–7
0%
2. Room: end of the week in which the student officially checks out of the residence hall. Withdrawals after eighth week of classes: 1. Tuition: no refund. 2. Room: end of the week in which the student officially checks out the residence hall. First-time students receiving Federal Student Financial Assistance are subject to the Statutory Pro Rata Refund as prescribed by federal law. Interterm and Summer Session Refund Policy 1. Room and Board is pro-rated to the end of the week of official withdrawal. 2. $25 of the tuition charge is considered a registration fee and is non- refundable. 3. Official withdrawal from summer session must be made through the Office of the Registrar. Refund rates are determined by the date in which the written request for registration change or withdrawal was made. Refunds are subject to the following schedule: a. First two-days: complete refund. b. In a three or five week class, 70% day three and four, 30% refunded during the second week, none thereafter. c. Classes that do not fall within the regular session dates will still follow the refund schedule under the first session. All arranged courses follow the refund schedule of the first session. No course may be dropped after its ending date, and no tuition will be refunded if a student unofficially withdraws after the final day to officially drop a class has passed. Class fees are not refundable after the second day of the session. Tuition refunds for class changes (where applicable) will be made in the same manner as refunds for withdrawals (i.e., full refund within first two weeks of classes and pro-rated refund after second week until end of eighth week). All refunds must be requested by properly completing and submitting a departure form or class drop form, the official withdrawal date determining the amount of refund. Class, laboratory, health, insurance, parking, activity and other fees are refundable only if withdrawal is on or before the final date of late enrollment. Music fees are for private music lessons and are refundable in the same manner as tuition, except no refund after the sixth week. Outstanding Balances As Biola is an educational institution, any balance owing on a student's account is an extension of credit by the University and is considered an educational loan within the meaning of section 523 (a) (8) of the U.S. Bankruptcy Code. If a loan becomes in default, Biola may disclose the default, along with other relevant information, to credit bureau
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