FINANCIAL INFORMATION
Aradnnir Srholanhi/1s. ($3,000-$5,000) Awarded to lO top I 5% of incoming freshmen and transfer students. Based on high schoo l and co llege GPA and SAT/ ACT sco res. Awarding begins.January l:ith. Renewable if' GPA requirement is met. Rank #I - 1:i ; rank #2 - 3.4; rank #3 - 3.3.) Ho nor Srholrmhi/1s. ( 1 / ~ to Vi tuition ) Awarded to highest ranking freshmen and transfer students. Based on academi c achi evement (GPA and SAT) and ex tracu rricu lar/ leadership activities. Selection begins .January 15t h. Renewable if GPA requirement met: (3.4 sophomore year, 3.5 junior year, 3.6 senior year ). Must fil e FAFSA and FAF. Honor sc holarships will no longer be awarded after the 92 / 93 year. l.n11/mhi/1 Awards. ($2 ,000) Awarded l0 freshmen and tran s- fer swdents who ha1·e demons trated outstand ing sp iri tual leade rship in their communi ty. Awarding begins .J an uary 1:i th. Renewabl e with demonst rated leade rshi p involvement at Bio\a. Must file FAFSA and FAF. DPfJl'ndmt Srholrmhi/1s. ($ 1,000) All dependenL1 of pastors or mi s- sionaries (prima,y family income must be th rough a church or mi ssion board) 1,~II be awarded a $1,000 scholarship each year of attendance. Dependen ts of'pastors/ missiona,ies must file FAFSA and FAF and the approp,iate applica tion (arnilable in the Finan- cial Aid Office) to receil'e thisscholarship. Churrh Mrttrhing Srholarship. (Up to $:iOO from Biola) Biola will match one award per year up to S.'iOO for a full-time st u- dent. The match is prorated fo r pan-time and Doctor of' '.vlin- istri es students. BOLD students are not eligible. The Church's award must be submitted in fu ll within the lirsl fou r weeks of' the semester, and must be accompan ied 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 sp,ing entrants only) is March I. i'rPsidn1t:1 Award. (80% tuiti on) Senior standing with in te n- tion to graduate at th e end of the schoo l yea r req uired, along with a minimum 3.60 GPA, attendance at Biola f'or at least two years as we ll as personal quali ficat ions. Musir Awa rds. Made by th e music department to music majo rs with high-performan ce and sc holast ic capab ili ties. The scholarshi p must be used for the area in wh ich the ap pli- cant auditioned . Recipi ents mav also be req uired to partici- pate in an ensemble actil'ity. Two spec iall y designated scholarsh ips are open to organ and compos ition ,mtjo rs on an annual competition basis. These pres ti gious awards, equal to th e highes t schola rship granted, are The Rarner Brown Scholarship fo r Compos i- ti on, and The Timothy Howard Scholarship for Organ. Athlrtir Srho/a, :1hips. Offered to students who demonstrate ou t- standing abilil; ' and achi erement in a particular sport. form sirs Srh11/arshi/1s. Offered to participants on the schoo l's compe titil'e speech team. Students awarded this scholarshi p are not necessarilv communication majors. Bi11/11girnl SrimrP /'1 f-111Pri Srho/a ,:ships. (Up to $500 per semes- ter) Arailabl e lO upper dil' ision biological science majors. The scholarship is based on need and pre-med poten ti al. Appli ca ti on fo rms al'a il able from the pre-med adl'i sory com-
mi nee, department of biological science. In additi on to those offered by the schoo l, other scholar- ships are provided through the generosityof donors. Questions conce rning these awards should be referred to the Financial Aid Omce. Federal Aid f'pdmil PP/I Grant Program. A fede ral program designed lO assist students with financ ial need. The max imum gran t for 1992-93 was $2,400. Ferlnal S11pfilt'111PJ1t(//y l:'rluwtional 0/1port1111ity Grant (SfOC) l'rogmm. Supported by the federa l government, is fo r under- graduate students and is based on finan cial need. Fer/mt! Work Study. Empl oyment on campus is ,mti labl e lO swden ts who can demonstrate fin ancia l need. Under thi s program federal funds pa)' 70% of a studen t's wages, whil e the Cniversity pays the remaining 30%. Wages paid to su,- dents in the work study program rarv accordi ng lO the stu- dent's qualificat ions and duties performed. The Cni versity cannot guaran tee ajob for every student. Fednal Prrkins l.oan. Under the Perkins Loan , a studen t may borrow up to $4 ,500 in his first two years of study and $9,000 bv the end of his first undergraduate degree. Ava il ability lim- ited . Must demonst rate need. Repayment of Perkins Loan begins nine months after graduation or withc\i'awa\ from chool. If' the to tal amount is paid with in nine months of graduati on, interest wi ll not accrue. Payments may be extended over a 10-year period at 5% interest on the unpaid balance. \<!embers of the armed fo rces on active dut1· and studen ts who trans fer to oth er schools to compl ete undergraduate or graduate work, may defer paymem and inte,·est and extend the repaymen t period. Fer/mt! Stafford Loans (formnlr CS/.) . A1·ai\able th rough loca l banks, credit unions and sal'i ngs and loan associa ti ons, fo r ci ti zens and nat iona ls of' th e Un ited States, cir those in the country for other than a temporary purpose. It is the lende r's opti on to make or deny the loan. Banks mayrequire a depos it relationsh ip . The program allm,-s students to borrow up to $2 ,625 as fres hmen, $3,500 as sophomores and up lO S5,500 as juniors and se ni ors. Students demonstrating financial need may quali ~· for an in terest subsidy, bywhich the government pays the interest while the studen t is in schoo l. Appli cations for Staffords may be obtained from the Financial Ai d Office. The student may defer payment umil six momhs after graduati on. Interest is rariable up to 9% (based on the 91-day T-Bill plus 3.1 0%) . The student has up to 10years to repay the loan. Federal S11/1/Jif111n1tal /. 01111s for Studmls (SI..S/ PI.US). Graduate students and independent students may borrow up to $4,000 annually at a l'ariable interest rate, up lO 11 %. Paren ts may borrow up lO the cost of education minus fin ancial aid at the 1ariable interest rate, up to I0%. Repayment may be deferred while the student is en rolled in sixor more uni ts. Imerest con- tinues 10 accrue duri ng this time.
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