FINANCIAL INFORMATION
Rosemead Faculty Discretionmy Scholarship. Avai lable to qua li fied Rosemead students on th e basis of need. Requires FAFSA forms. GraduateCrnnt. Al'ailab le in limited amounts to students who demonstrate financial need. Requires a FAFSA filed by fa ll deadline. Student Minisllies Inc. Provides a means for family and fii encls to make tax-exempt contributions to a student whi le in seminary, if studen t is engaged in eight or more hours of weekly mini stry. Talbot Dean's Scholarship. Available to Talbot student's on bas is of need. Awarded byTalbot School ofTheology. 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 thi s type of aid should contact the
Stafford Loans may be obtained from the Financial Aid Office. The student may defer pa)1nent until six months after gradua tion. Interest israriable up to 8.25% (based on the 91-da)' T-Bill pl us3.10%). The student has up to 10 years to repaythe loan. Federal Unsubsidized Stafford Loans. Graduate students and independent students may bor row from $4 ,000 to $10,000 annually at a va riable interest rate , up to 8.25%. Repaymen t may be deferred while the student is enrolled in six or more units. Interest continues to accrue during thi s time. Federal Parent Loan for Undergraduate Students (PLUS1. Parents mayboITow up to the cost of education minus financial aid at a variable interest rate up to 9%. Repa)went begins immediately. State Aid to Students Cal Grant A's are made available to hundreds of Califor nia residents each year. Eligibility is based on G.P.A. and financial need. In addition , manystudents from low income families receive funds through the Cal Grant BProgram. Students attending Biola are not eligible to receive funds through the Cal Grant C program. FAFSA form must be filed by March 2 deadline and current non-recipients must file a Cal Grant G.P.A. verification form by March 2. GRADUATE FINANCIAL AID Before appl ying, applicants should make realistic assess ment of their resources for financing graduate study in view of the graduate tuition and fee schedule and the cost of liv ing in Southern California. The following federal aid programs are available to grad uate students. Please refer to the appropriate section above for additional information. FederalPnkins Loan. Up to $1,000 per year. Limited availabi lity. Fedn-al Stafford Loans. Up to maximum $8,500 per year. Federal Unsubsidized Stafford Loans. Up to $10,000. In addition , the following aid programs are available specificallyfor graduate study. California State Graduate Fellowships. Available to state resi dents who are planning to teach at the college level; requires a financial statement, eligibility application and GRE or other appropriate test scores. Church Mat ching Sch owrship. 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. Not available to ELI students. FAFSA required. The Church's award must be submitted in full within the first four weeks of the semester, and must be accompanied by the Church Matching Scholarship Application signed by the pas tor or Church Board Member. Fall semester deadline is Oct I. Spring semester deadline (for spring entrants only) is March I. Rosemead (Graduate) Assistantships. Available to selected sec ond year students and above; eligibility requirements and use of funds is established through Rosemead faculty committees.
Registrar's Office. Student Loans
Biola will notify all aid applicants of th ei r eligibility to borrow through th e Federal Family Educational Loan Pro gram, including the Stafford Loan. Biola will send a Stafford App lication to eve ry eligibl e applicant and a list of recom mended lenders. If an applicant choosers a lender that is not listed on the lender li st, he should contact that lender for an application. Student Aid Grants As funds are available, Student Aid Grants are made to needy students from the Student Aid Fund. This fund is maintained bygifts from friends of the University. Students are not required to repay the University, but it is hoped that recipients will contribute to the fund when they have com pleted school in order to provide for others who are in need. International Students International applicants 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. Canadian Grants Canadian citizens who receive at least two thirds of their college funding from Canadian sources are eligible for the Tuition at Par (TAP) Grant for the Fall and Spring semes ters. The TAP Grant covers the difference between U.S. and Canadian dollars as calculated at the beginning of each semester. The grant is calculated after the student's other university aid is considered.
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