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In add it ion , th e follow in g a id programs are ava ilable spec ifi ca ll y for g radu ate s tud y. Califomia Stale Grar/110/e Fellowships. Ava il able co state res i d e nt s w h o arc planning to t eac h at the co ll ege leve l; req uires a finan c ia l sra re lll e nc , e li gibi lit y a ppli ca tion a nd GR E o r ocher appropriate test sco res . Ch11nh 1llrrtthi11g Srholarship. Up co $500 frolll Biola. Biola will lllatc h one award pe r yea r up to $500 for a full-tim e stu de nt de mon strating need. T he march is prorated for part time a nd Doccor of \lini s rries stud e nts . No t avai labl e to EL I stu de nts. FAFSA req uired. The C hurc h 's award mu st be s ubmitted in full wit hin th e first four weeks o f the semes ter, and must be accompa ni e d b y t h e C hur c h \latc hin g Schola rs hip App li cat ion signe d by the pasto r or C hurch Board f\ lembc r. Fall se mes te r dead lin e is Oct 1. Spring se mes te r d eadline (fo r spring e ntrants onl y) is J\la rch 1. Rosemead (Crad11a1e) Assis1a111ships. Ava ilabl e co se lec ted seco nd yea r s tud e nt s and above; e li g ibility requirements and use o f funds is es tabli she d through Rosemead fac u lty comlllittees. Rosemead Famltv Discre1io11c11y Sd10lan·hip. Avai lab le to qu a lifi e d Rosemead s wd c nt s o n th e ba s is of n ee d. Requires FAFSA forms . C!'Or/110/e Cra111. Available in limited alllo uncs co s tud e nts who demon strate finan c ial need. Re quires a FAFSA filed by fa ll dead lin e. S111de111 Jl1i11is1ries Ill e. Provides a mean s for fami ly a nd friend s to make tax-exe mpt co ntr ibutions to a s tudent wh il e in seminary, if swd e nt is engaged in e igh t o r more hours of week ly mini st ry. Tai/Jot Dm11's Srhol(lrship . Avai lab le to T a lbot st udent 's on basi s of need. Awarde d by Talbot c hoo l of Theology. GENERAL FINANCIAL AID INFORMATION The followin g appl y co bot h undergraduate and g radu ate a id appl icants. Entitlement Aid Bio la Uni ve rsity is autho ri zed as an in st itution co g rant be nefits to vete ran s and dependents, soc ia l security bene fit s and ass ista nce fr om the Ca lifornia Re habilitation Pro gram. Stude nts interested in chis type of a id should co ntac t the Office of the Reg istrar. Student Loans Biola will notify all aid app li ca nts of their e li g ib ility to borrow through the F ede ra l Famil y Educat iona l Loan Pro g ram, in c ludin g the S tafford Loa n . B io la will se nd a Stafford Appl ica ti on co eve ry e lig ibl e applicant and a li st of recomme nd ed le nd e rs. If an applicant choosers a lender t ha t is not li sted on the lende r li st, he should contact chat le nd er for an appli cation. International Students Inte rnati o na l app li cants must e s tabli s h th e degree of their abi lity co mee t the cos es o f an e du cat ion at Bio la Uni ve rsity. Each in te rn a ti ona l appli ca nt mu st su bmit a s igne d
for eve rv stud e nt. A limited amoum of community service job oppo rtuniti es a rc availabl e . Fedel'OI Perh11s Loa11. The Pe rkin s Loan is offered to need i est ea rl y fin anc ia l a id app li ca nts . $ 1,800 pe r yea r to Biola, 5% inte res t race . Repayment of Pe rkin s Loa n beg in s nine months after graduat ion or withdrawal from schoo l. If the tota l amoum is paid wit hin nin e lllOnth s of g raduation , interest will not accrue. Pavme ms may be extended Ol'er a 10-year period at 5% interest on th e unpaid balance . ,\[embers of the armed force s on active duty and s tudents who tran s fer to och er schoo ls to compl e te underg raduate o r graduate wo rk , may defe r payme nt and inte res t and extend t he re payment pe riod. Federal Stajfonl /, or111s. Ava il able through local banks, c re dit union s and sav ings and loan assoc iation s. Preferred lende r li st availabl e . T he program a ll ows s tudents to borrow up to $2,625 as fre sh lll en, $3,5 00 as sophomores and up co $5,500 as juni ors and se niors. Students d e mons tratin g fin a ncia l need may qualify for an int e rest subs id y, b y whi ch th e government pa ys th e inte rest whil e t he swclenc is in sc hoo l. Ap pli ca tion s for Federal Stafford Loans may be obta in ed from the F inancia l Aid Office. The s tudent may de fer pa yment until s ix month s after gra du at io n. Int e res t is va riabl e up to 8.25% (based on the 9 1-day ' ['-B ill p lus 3.10%). The s tu denr has up to 10 vca rs co repay th e loan. Federer! U11s11bsidizerl Strifford Loa11s. Graduate stud e nts and ind epe nde nt swcl e ncs may borrow from $-t ,000 to $ 10,000 annuall y a t a va ri able imeres r race, up to 8.25%. Repayment ma y be defe rred while th e stud e nt is e n rollee! in six or mo re units. Inte rest continu es co accrue durin g thi s time . Federal Pare111 Loa11 fo r U11rle1grar/1w1r S111de11!s (Pl .US). Par ents may borrow up co th e cost of e du ca ti on minus finan c ial aid at a rnriablc inte rest rate up co 9%. Repa yment begin s imlll ccl iatcl y. State Aid to Students Ca l Grant A's are made avai lable co hund re ds of Ca lifor ni a residents eac h yea r. Eli g ibilit y is based on GPA and financial need . In addit ion, man y s tud e nts from low income falll ili es receive fund s t hrough the Ca l Grant B Program. Students attending Bio la a re not e ligible co rece ive fund s through the Ca l Gram C program. FAFSA forlll mu se be filed b y ]\,[ arc h 2 d ead lin e and c urrent n o n-rec ipi e nts mu st file a Ca l G rant GPA veri fi cat ion fo rm by l\larch 2. GRADUATE FINANCIAL AID Before applying. appl ica nts should make rea li s t ic assess me nt of their reso urces for financing graduate st ud y in view o f the g raduate tuition and fee sc hed ule and the cos t of li v in g in South e rn Ca lifornia. The fo ll ow ing federal a id prog rallls are ava il ab le co grad uate stud e nts. Pl ease refe r co th e app ropriate sec tion above for addition a l inforlllation. Federal Perki11s Loa11. Up co $1,000 per yea r. Limited avai labil ity. Fer/e!'OI Stafford Loa11s. U p co max imum $8,5 00 pe r yea r. Federal U11s11bsirlizerl Stafford Lorr11s. l . p co $ 10,000.
14 • Financial Information
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