Biola University 2013–14 Catalog
Athletic Scholarships Offered to students who demonstrate outstanding ability and achievement in a particular sport. Awarded by the
vary according to the student’s qualifications and duties performed. The University cannot guarantee a job for every student. A limited number of community service job opportunities are also available. Federal Perkins Loan The Perkins Loan is a need-based loan program offered to early financial aid applicants. The loan is subsidized (interest-free while enrolled), and has a 5% fixed interest rate once in repayment. Based on availability of funds. Repayment of Perkins Loan begins nine months after graduation or withdrawal from school. If the total amount is paid within nine months of graduation, interest will not accrue. Payments may be extended over a 10-year period at 5% interest on the unpaid balance. Members of the armed forces on active duty and students who transfer to other schools to complete undergraduate or graduate work, may defer payment and interest and extend the repayment period. Biola Loan The Biola Loan is a need-based loan program offered to early financial aid applicants. The loan is subsidized (interest-free while student is enrolled), and has a 5% fixed interest rate. Repayment begins nine months after ceasing to be a regular student at Biola University. If the total amount is paid within nine months of graduation, interest will not accrue. Payments may be extended over a 10-year period at 5% interest of the unpaid balance. Nursing Loan The Nursing Loan is a need-based loan program offered to students accepted into the Nursing Program who are early financial aid applicants. $2,500 per year to Level 1 students, $4,000 to Level 2 or above. 5% interest rate. Repayment begins nine months after ceasing to be a regular student at Biola University. If the total amount is paid within nine months of graduation, interest will not accrue. Payments may be extended over a 10-year period at 5% interest of the unpaid balance. Members of the armed forces on active duty, Peace Corps volunteers and students who pursue further Nursing training may defer payment and interest and extend the repayment method. Federal Stafford Loans Federal Stafford Loans are awarded to students after they have filed their FAFSA and submitted all requested paperwork to the financial aid office (including the Entrance Counseling and Master Promissory Note required for the loan). The program allows students to borrow up to $5,500 as freshmen, $6,500 as sophomores and up to $7,500 as juniors and seniors. Portions of these amounts may be subsidized (interest paid by the government while student is enrolled at least half time) depending on the student’s “financial need” as demonstrated on the FAFSA. At least $2,000 of the above mentioned amounts will be unsubsidized. Funds are disbursed directly from the government to Student Biola Accounts. The student may defer repayment until six months after graduation. See the financial aid website for current interest rates. Standard repayment period is 10 years.
Athletic Department. Forensics Scholarships
Offered to participants on the school’s competitive speech team. Students awarded this scholarship do not need to be communication majors. Awarded by the
Communication Department. Biology/Science Scholarships
Offered to students who demonstrate a high level of achievement within this major. Awarded by the Biology/ Science Department. Cinema and Theater Arts Scholarships Offered to students who demonstrate a high level of achievement within this major. Awarded by the Offered to students who demonstrate a high level of achievement within this major. Awarded by the Journalism Department. Chimes Scholarships Offered to students who are highly involved with the Chimes (Biola’s student newspaper). Awarded by the Journalism Department. Communication Disorders Scholarship Offered to students who demonstrate a high level of achievement within this major. Awarded by the Communication Disorder Department. Journalism Department. Journalism Scholarships Federal Aid to Students Federal Pell Grant Program A federal program designed to assist students with high financial need. The maximum grant is $5,645. Federal TEACH Grant ($4,000) A federal program for eligible financial aid recipients. Applicants must fulfill 4 years of teaching in a specific program emphasis at an eligible Title 1 school within 8 years of program completion. Failure to fulfill these requirements will result in the grant converting into an unsubsidized Stafford Loan. To apply, students must complete online Entrance Counseling, as well as the Agreement to Serve on the following website: https:// teach-ats.ed.gov/ats/index.action. In addition, Biola requires each applicant to meet with a Financial Aid Counselor, and with Biola’s School of Education before funds will be disbursed. FSEOG Program The Federal Supplementary Educational Opportunity Grant (FSEOG) program is a campus-based federal aid and is designed to assist the neediest undergraduate students. Must be eligible for Pell Grant. Based on availability of funds. Up to $1,500. Federal Work Study This program allows students, who obtain certain on- campus jobs and exhibit need, to have their income “protected” from the subsequent year’s FAFSA calculation. Federal funds pay 75% of a student’s wages, while the University pays the remaining 25%. Wages paid to students in the work study program
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