FINANCIAL INF"CRMATICN
a partnership which includes student and famil ysupport; fed eral and state grants and loans; and finan cial aid from Biola. Biola University does not di sc riminate on the basis of sex, race, color or national and et hnic origin in administration of its scholarship and loan programs. UNDERGRADUATE FINANCIAL AID Institutional Aid All students rece iving merit awards and/ or need-based aid are required to file a FAFSA, or select self disqualification for need-based aid by submitting page one of the I996 I040 tax form showing an adjusted gross income in excess of $75,000. (Students receiving need-based aid must submit enti re 1040 including schedules.) Bio/a Need Grant or University Award. The University will pro- . vide a Biola Need Grant or University Award up to $4,800 to students with exceptional need and limited resources. Uni versity Award is based partiallyon GPA. Must file FAFSA and University Aid Application forms. Academic Scholarships. ($3,150-$5 ,600) Awarded to the top 15% of incoming freshmen and transfer students. Based on high school and college GPA and SAT/ ACT scores. Students are notified of award at time of accep tance. Renewable if GPA requirement is met as ou tlined in scholarship policy. SURGE Awaid. ($2,400-$2,500) Awarded to underrepresented students not eligible for academic scholarships. Must have 3.0 GPA. Requires participation in Cultural Encounters program. Awarding by committee begins March 15. Community Se,vice Scholarship. ($2, 100-$2,500) Awarded to freshmen and transfer students who have demonstrated out standing spiritual leadership and services in their community. Awarding by commiuee begins March 15tli. Renewable with demonstrated leadersh ip involvement and services at Biola. Must file FAFSA and a separate application. All first year lead ership and award recipients are required to register for both semesters of GNST 105 Leadership Mentorship Program. Dependent Scholarships. ($1,000-$1 ,200) All dependent chil dren of pastors, missionaries or Christian workers (primary family income must be through a church, mission board or Christian non-profit agency) will be awarded a scholarship each year of attendance. Dependent children of pastors/missionaries/ Christian workers must file FAFSA and the appropriate application (available in the Financial Aid Office) to receive this scholarship. Biola employee depend ent scholarship recipients are not eligible. Church Matching Scholarship. (Up to $500 from Biola) Biola will match one award per year up to $500 for a full-time stu dent demonstrating need. The match is prorated for part time and Doctor of Ministries students. BOLD and ELI stu dents are not eligible. The Church's award must be submilled in full within the first four weeks of the semester, and must be accompanied by the Church Matching Scholarship Application signed by the pastor or Church Board Member. Fall semester deadline is
Oct I. Spring semester deadline (for spring entrants only) is March I. FAFSA must be filed. Pres ident's Award. (80% tuition) Senior standing at Biola with int ention to graduate at the encl of the school year required, along with a minimum 3.60 GPA, auendance at Bi ola for at least two years as well as personal quali fications. One award per year. Mu sic Awards. Made by the musi c department to music maj ors with high-performance and scholastic capabilities. The scholarship must be used for the area in which the appli cant audit ioned. Recipients may also be required to particiL!!.. pate in an ensemble. Two specially designated scholarsh ips are open to organ and composition majors on an annual competition basis . These prestigious awards, equal to the highest music scholar ship granted, are The Rayner Brown Scholarship for Compo sition, and The Timothy Howard Scholarship for Organ. Athletic Scholarships. Offered to students who demonstrate outs tanding ability and achievement in a particular sport. Awarded by the Athletic Department Forensics Scholnrships. Offered to participants on the school's competitive speech team. Students awarded this scholarship are not necessaril ycommunication majors. Federal Aid to Students Federal Pell Grant Program. Afederal program designed to assist students wi th financial need. The maximum grant is $2,700. Federal Supplementmy Educational Opportunity Gran/ (FSEOG) Program. Campus-based federal aid, is for need iest under graduate students. Must be eligible for Pell Grant. Federal Work Study. Under this program federal funds pay 75% of a student 's wages, while the Un iversity pays the remaining 25%. Wages paid to students in the work study program vary according to the student 's qualifications and duties performed. The University cannot guarantee a job for every student. A limited amount of community service job opportunities are available. Federal Perkins Loan. The Perkins Loan is offered to neediest early financial aid applicants. $1 ,000 per year to Biola, 5% interest rate. 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 JO-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. Federal Stafford Loans. Available through local banks, credit unions and savings and loan associations. Preferred lender list available. The program allows students to borrow up to $2,625 as freshmen , $3,500 as sophomores and up to $5,500 as juniors and seniors. Students demonstrating financial need may qualify for an interest subsidy, by which the government pays the inter est while the student is in school. Applications for Federal
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