FINANCIAL INFORMATION
FINANCE CHARGES Afinance charge of 1.5% per month of the first $1,000 of unpaid balance and I% per month of unpaid balance over $1 ,000 is added at each billing to carry the account. Tran scripts (official and unofficial) are withheld if a student has an outstanding obligation to the University or is in default on any government based loans. All payments to a student's account after enrollment should be addressed as follows: Accounting Department Biola University 13800 Biola Avenue La Mirada, CA 90639-0001 In addition , to insure timely processing, the student name and ID number must be clearly noted on all payments. A student is not registered and cannot attend classes until satisfactory financial arrangements have been made with the Student Accounting Office. REFUNDS - WITHDRAWAL Inasmuch as faculty engagements and other commitments are made by the University for the entire year in advance, the following refund schedule has been established in order that the Un iversity and the student may share the loss equitably when it is necessary for a student to withdraw from school: Fall and Spring Semester Refund Policy Withdrawal within the first two weeks of classes: 1. Tuition - full amount, less enrollment deposit (stu dents with six or fewer units, $25; auditors, $20). 2. Room - end of the month in which the student offi ciallychecks out of the residence hall. Withdrawal after the second week and before the end of the eighth week of classes (except for special programs) : I. Tuition - pro-rated as of end of week in which stu
■ In a three or four week class, 30% refunded dur ing the second week, none thereafter. ■ In five week classes, 58% the second week, 30% the third week, none thereafter. Tuition refunds for class changes (where applicable) will be made in the same manner as refunds for withdrawals (i.e. , full refund within first two weeks of classes and pro-rated refund after second week until end of eighth week). All refunds must be requested by properly completing and submitting a departure card or class drop form, the offi cial withdrawal date determining the amount of refund. Class, laboratory and activity fees are refundable only if with drawal is on or before the final date of late registration. Music fees are for private music lessons and are refund able in the same manner as tuition , except no refund after the sixth week. REFUNDS-OVERPAYMENT Payments to student accounts which result in a credit bal ance will be refunded upon request. Refund requests will not be processed until the credit balance appears on the student 's monthlystatement. Requests for adjustments to charges must be made within 4 months from the date of the student's statement on which the charge first appears. FINANCIAL AID INFORMATION It is the desire of Biola University, within the limits of its resources, to provide financial assistance to students with demonstrated need , especially those who, without such aid, would not be able to attend Biola. The Financial Aid Office provides counseling and assis tance to students and their fami lies in structuring the most approp1iate package of financial aid. The University is commit ted to locating sufficient financial aid to permit enrollment of every student wishing to attend. This commitment is based on a partnership which includes student and family support; fed eral and state grants and loans; and financial aid from Biola. Biola University does not discriminate on the basis of sex, race, color or national and ethn ic origin in administration of its scholarship and loan programs. UNDERGRADUATE FINANCIAL AID Institutional Aid All students receiving merit awards and/ or need-based aid are required to file a FAF and a FAFSA, or provide proof of need based disqualification by submitting page one of the 1993 I040 tax form showing an adjusted gross income in excess of$60,000. Biola Need Grant. Biola's Financial Aid Commitment. The Un iversity wi ll provide a Biola Need Grant up to $4,000 to students with except ion al need and limited resources (including fami ly contribution, state aid, federal aid, Univer sity awards, work-study, federal loans and outside sources.) Must file FAFSA and FAF forms.
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dent withdraws. Week3-80% Week5-67%
Week 4- 74% Week 6-60%
Week 7-54% Week 8-47% 2. Room - end of the month in which the student offi- cially checks out of the residence hall. Withdrawals after eighth week of classes: 1. Tuition - no refund. 2. Room - end of the month in which the student offi ciallychecks out the residence hall. lnterterm and summer session refund policy I. Room and Board is pro-rated to the end of the week of official withdrawal. 2. $25 of the tuition charge is considered a registration fee and is non-refundable. 3. Pre/ unit refunds are subject to the following schedule: ■ First week - complete refund, except $25 regis tration fee. ■ In a two week course - no refund the second week.
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