General Financial Aid Information The following apply to both undergraduate and graduate aid applicants. Entitlement Aid Biola University is authorized as an institution to grant benefits to veterans and dependents, social security benefits and assistance from the California Rehabilitation Program. Students interested in this type of aid should contact the Office of the Registrar. Student Loans Biola will notify all aid applicants of their eligibility to borrow through the Federal Family Educational Loan Program, including the Stafford Loan. Biola will inform every eligible applicant how to apply and provide a list of recommended lenders. If an applicant chooses a lender that is not listed on the lender list, he should contact that lender for an application. International Students International applicants who hold an F-1 visa must establish the degree of their ability to meet the costs of an education at Biola University. Each international applicant must submit a signed statement of financial responsibility as well as signed statements from any agencies or individuals who have taken the responsibility of underwriting the student's expenses. These statements must include the exact amount of the commitment. All financial aid for international students are awarded and administered through the Undergraduate and Graduate Admissions Offices. Student Employment The University maintains an employment office for the benefit of students needing part-time work. While this office does not guarantee employment, it does make an effort to place every student desiring work. Jobs are available both on and off campus, according to student's ability, capacity to handle the added burden of employment and financial need. Student worker positions range from 10-20 hours per week. Application for Aid Students may apply for financial aid by filing a Free Application for Federal Student Aid (FAFSA). Biola University and the school code should be included on the appropriate sections. For FAFSA, Biola's code number is 001122. All undergraduate California residents are encouraged to apply for a Cal Grant, using the FAFSA and GPA Verification form. Departmental applications for scholarships (i.e. music, athletics and forensics, etc.) are available from departments only. For example, write to the Chairman, Conservatory of Music, Biola University. In addition, a FAFSA may need to be filed unless a student can demonstrate disqualification for need-based aid. Note: FAFSA and Stafford loan applications need to be re-filed for each academic year. Deadlines for Filing The following deadlines have been established for the various aid programs: Cal Grant Programs
Financial Aid Disbursements All financial aid is awarded for the academic year; one half is applied to a student's school account each semester (unless stated otherwise). Students enrolled for only one semester are entitled to only that semester's award after it is adjusted to a one-semester expense budget. Financial Aid is not available for interterm or summer school, except sources that are mandated by federal regulations. Financial Aid Withdrawal / Return of Aid Policy Biola University's "Financial Aid Withdrawal Policy" is employed when a student withdraws prior to completing 60% of the semester. Financial aid adjustments caused by a change in semester enrollment status (student remains enrolled in at least one course) are not included in this policy, but are addressed in the Financial Aid Handbook. If a recipient of financial aid withdraws during a period of enrollment, the amount of financial aid earned will be calculated according to regulations and policies established for the various categories of aid. The unearned aid will be returned to the various aid sources. These sources include: Title IV Financial Aid: Most types of government aid are included in this category, i.e. Federal Pell Grant, Federal SEOG Grant, Perkins Loan, Stafford Student Loan, PLUS Loan. (Work Study is not included in the withdrawal calculation) State Aid: Includes Grants awarded by the California Student Aid Commission, i.e. Cal Grant A, B. Institutional Aid: Includes all sources of financial aid awarded by Biola University, i.e. scholarships, grants and campus-based loans with the exception of employee or employee dependent tuition waivers. Outside Assistance: Includes any aid received from outside organizations, i.e. churches, civic organizations, Employee Tuition Waivers, private foundations, scholarship associations, etc. When a student wishes to withdraw from Biola University, a "Departure Card" must be obtained from and submitted to the Office of the Registrar. The official withdraw date is the earlier of either the date the student begins the withdrawal process, or the date the student provided official notification of the intent to withdraw, and received acknowledgment of the same from the Office of the Registrar. Students who unofficially withdraw (fail to submit departure card, but stop attending class) will be given an official withdrawal date determined by the last date of class attendance. If the last date of attendance cannot be determined, the official withdrawal date will be the 50% point of the semester. Return of Aid Title IV Aid: Federal aid must be returned to the Title IV program(s) if a student withdrew on or before completing 60% of the enrollment period (semester or term). The percentage of Title IV aid to be returned is equal to the number of calendar days remaining in the semester divided by the number of calendar days in the semester. Scheduled breaks of more than four consecutive days are excluded. Note If prior to withdrawing, funds were released to a student prior to withdrawing; because of a credit balance on the student's account, the student may be required to repay some of the federal funds upon withdrawing. State Aid: State aid must be returned in the amount of the difference between the State aid awarded for the enrollment period and the actual tuition charged once the tuition refund is reflected. Institutional Aid: In most cases, institutional aid is reduced when a student withdraws during the first eight weeks of the semester. The institutional aid is reduced by the same percentage of tuition refund.
New Applicants January 1-March 2 Institutional Aid
While there is not a “deadline” to apply for financial aid and students are allowed to apply throughout the academic year, resources are limited and are awarded on a first come, first served basis. Therefore, students are encouraged to apply and complete their financial aid file as soon as possible after January 1.
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