10 FINANCIAL INFORMATION
credit balance wi ll be refunded upon request. Refund requests wi ll not be processed until the credit balance appears on the student's monthly statement . Requests for adjustments to charges must be made within 4 months from the date of the stu dent's statement on whi ch the charge first appears. FINANCIAL AID INFORMATION It is the desire of Biola Univers ity, within the lim its 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 assistance to students and their families in structur ing the most appropriate package of financial aid. The University is committed to locating suffi cient financial aid to permit enrollment of every student wishing to attend. This commitment is based on a partnership which includes student and family sup port; federal and state grants and loans; and finan cial aid from Biola. Biola University does not discriminate on the basis of sex, race, color or national and ethnic origin in administration of its scholarsh ip and loan programs. UNDERGRADUATE FINANCIAL AID INSTITUTIONAL AID All students receivi ng merit awards and/ or need based aid are required to file a FAF or SACC form, or provide proof of need based disqualification by submitting page on of the 1991 1040 tax form show ing an adjusted gross income in excess of $60,000. MEmNG THE D1mRENCE. Bio la's Financial Aid Commitment. The Un ivers ity wi ll provide a Biola Need Grant equal to 100% of the -difference between tuition, room and board charges, and the calcu lated amou nt of other avai lable resources (including family contribution, state aid, federal aid, Un iversity awards, work-study, federal loans and out side sources .) HoNoR ScHoLARsH1Ps (M1N1MuM HALF rumoN) . Awarded to highest ranking freshmen and transfer students. Based on academic ach ievement (GPA and SAT) and extracur ricular/ leadership activities. Selection begins January 15th. Renewable if GPA requirement met: (3.4 sophomore year, 3.5 junior year, 3.6 senior year). Must file SAAC or FAF. DEAN's ScHoLARSHIP ($2,000-$3,000). Awarded to high ranking freshmen and transfer students. Based on academic achievement (GPA and SAT) and extracur ricul ar/ leadership activities. Selection begins January 15th. Renewable with 3.2 Biota GPA.Must file SAAC or FAF. LEADERSHIP AwARDs ($2,000-$3,000). Awarded to freshmen and transfer students who have demonstrated out standing spiritual leadership in their communi ty. Award ing begins January 15th. Renewable with demonstrated leadership involvement at Biola.
year in advance, the fo llowing refund schedule has been established in order chat the University and the student may share the loss equitably when it is neces sary for a student to withdraw from school:
Financial Aid Office Extension 4742
FALL AND SPRING SEMESTER REFUND POLICY
Withdrawal within the first two weeks of classes: 1. Tuition - full amount, less enro llment deposit (students with six or fewer units, $25; auditors, $20). 2. Room - end of the month in which the stu dent officially checks out of the residence hall. Withdrawal after the second week and before the end of the eighth week of classes (except for special programs): 1. Tuition - pro-rated as of end of week in which studen t withdraws. Week 3 - 80% Week 4 - 74% Week 5 - 67% Week6-60% Week7-54% Week8-47% 2. Room - end of the month in which the stdent
officially checks out of the residence hall. Withdrawals after eighth week of classes: 1. Tuition - no refund.
2. Room - end of the month in whi ch the stu dent officially checks out the residence hall. INTERTERM AND SUMMER SESSION REFUND POLICY 1. Room and Board is pro-rated to the end of the week of official withdrawal. 2. $25 of the tuition charge is considered a regis tration fee and is non-refundable. 3. Pre/ unit refunds are subject to the fo ll owing schedule: · First week- complete refund, except $25 registrat ion fee. · In a two week course - no refund the second week.
· In a three or four week class, 30 percent refund ed during the second week, none thereafter.
· In five week classes, 58 percent the second week, 30 % the third week, none thereafter. Tuition refunds for class changes (where applica ble) wi ll 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 com pleting and submitting a departure card or class drop form, the official withdrawal date determining the amount of refund. Class, laboratory and activity fees are refundable on ly if withdrawal is on or before the final date of late registration. Music fees are for private music lessons and are refundable in the same manner as tuition, except no refund after the sixth week. REFUNDS-OVERPAYMENT Payments to student accounts which result in a
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