FINANCIAL INFDRMATION
GENERAL FINANCIAL AID INFORMATION
Federal Parrot Loan fur Undergraduau Students (PLUS). Parents may borrow up to the cost of education minus financial aid at a ¼lriable interest rate up to 9%. Repayment 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, many students 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 applying, 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. Federal Perkins Loan. Up to $1,000 per year. Limited availability. Federal Staffurd Loans. Up to maximum $8,500 per year. Federal Unsubsidiud Staffurd Loans. Up to $10,000. In addition, the following aid programs are available specifically for graduate study. Califurnia StaU Graduate Fellowships. Available to state residents who are planning to teach at the college level ; requires a financial statement, eligibility application and GRE or other appropriate test scores. 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. 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. lwstmtad (Graduau) Assistanlships. Available to selected second year students and above; eligibility requirements and use of funds is established through Rosemead faculty committees. &stmtad Faculty Discrelumary Scholarship. Available to qualified Rosemead students on the basis of need. Requires FAFSA forms. Graduate Grant . Available in limited amounts to students who demonstrate financial need. Requires a FAFSA filed by fall deadline. Student Ministries Inc. Provides a means for family and friends to make tax-exempt contributions to a student while in seminary, if student is engaged in 8or more hours ofweekly ministry. Talbot Dean's Scholarship. Available to Talbot student's on basis of need. Awarded by Talbot School ofTheology.
The following apply to both undergraduate and graduate aid applicants. Entitlement Aid Biola University is authorized as an institution to grant bene fits to veterans and dependents, social security benefits and assi1r tance from the California Rehabilitation Program. Students interested in this type ofaid should contact the Registrar 'sOffice. Student loans Biola will notify all aid applicants of their eligibility to borrow through the Federal Family Educational Loan Pro gram, including the Stafford Loan. Biola will send a Stafford Application to every eligible applicant and a list of recom mended lenders. If an applicant choosers a lender that is not listed on the lender list, 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 by gifts 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 seme1r 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. Student Employment The University maintains an employment office for the benefit of students needing part-time work to defray expenses. While this office does not guarantee employment, it does make an effort to place every student desiring work. Jobs are available both on and off campus, according to stu dent's ability, capacity to handle the added burden of employ ment and financial need. Normally, a student can expect to work lS-20 hrs./wk. when carrying a full class schedule. Previ ous work experience and hours available for employment will result in better rates of pay than the minimum wage. Students who find it nece=y to work for the entire amount of their living expenses should plan to extend the time required for their course of study and to reduce the academic load.
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