Undergraduate Financial Aid Federal Aid The Pell Grant ( formerly Basic Educa t ional Opportunity Grant) program is a federal program which is designed to assist students with financial need. The maxi mum grant for 1984-85 was $1,900 The Supplementary Educational Op portunity Grant (SEOG) program, sup ported by the federal government, is de signed to help needy students. Work Study employment on campus is available to students who can demonstrate financial need. Under this program federal funds pay 80% of a student's wages, while the university pays the remai ning 20% Wages paid to students in the work study program vary according to the student's qualifications and duties performed. Under the Nat ional Direct Student Loan Program, a student may bor row up to $3,000 in his first two years of study and $6,000 by the end of his first undergrad uate degree. Repayment of NDSL begi ns six months after graduation or withdrawal from school. If the total amount is paid within six months of graduation, interest will be ac crued. Payments may be extended over a ten-year period at five percent interest on the unpaid balance. Members of the armed forces on active combat duty and students who transfer to other schools to complete undergraduate or graduate work, may defer payment and interest and extend the repayment period. Guaranteed Student Loans (GSL) are available through local banks, credit unions and savings and loan associations, for citi zens and nat ionals of the United States, or those in t he country for other than a tem porary purpose. It is the lender's option to make or deny the loan. Banks may require a deposit rela tionship. The program allows students to borrow up to $2,500/year as undergrad uates, but some lenders may have lower limits.
3. Room-same as above. lnterterm and summer session refund policy: I . Room is pro- rated to t he end of the week of official withdrawal. 2. $25 of the tuition charge is considered a registration fee and is non-refundable. 3. Per/unit refunds are subject t o the fol lowing schedule: - First week - complete refund , ex cept $25 registration fee. - In a two week course - no refund the second week. - In a thre·e or four week class, 30 per cent refunded during the second week, none thereafter. - In five week classes, 58 per cent t he second week, 30 per cent the third week, none thereafter. Tuition refunds for class changes (where applicable) wi ll be made in the same man ner as refunds for withdrawals (i.e.- full re fund within first two weeks of classes and pro-rat ed refund after second week until end of eight h week). All refunds must be requested by prop erly completing and submitting a depar ture card or class drop form, the official withdrawal dat e determining t he amount of refund. Laboratory and activity fees are refundable only if withdrawal is on or be fore the fi nal date of late regist rati on. Music fees are for private music lessons and are refundable in the same manner as tuition, except no refund after the sixth week. Financial Aid Information It is the desire of Biola University, wit hin the limits of its resou rces, to provide fi nan cial assistance t o needy students, especially those who, without such aid, would not be able to attend Biola Universit y. The office of student financial services offers counseling and ass istance in ascertai ning the most appropriat e forms of fi nancial aid for each student Biola University does not discr imi nate on t he basis of sex, race, color or national and ethn ic origi n in administration of its scholarship and loan programs.
Finance Charges One percent of the unpaid balance shown on each monthly statement will be added to the account as a fi nance charge. Transcripts may be withheld if a student has financial obligations to the university. All payments to a student's account af ter enrollment should be addressed as fol lows: Biola University Accounting Department I 3800 Biola Avenue La Mirada, California 90639-000 I In addition, to whom the payment is to be credited must be clearly stat ed . A student is not regist ered and cannot attend classes until satisfactory fi nancial ar rangements have been made with the of fice of student financial services. Refunds Inasmuch as faculty engagements and other commitment s are made by the uni versi t y for t he ent ire year in advance, the following refund schedule has been estab lished in order that the university and the student may share the loss equitably when it is necessary for a student to withd raw from school: Withdrawal within the first two weeks of classes : I . Tuition - full amount, less enrol lment deposit (students with six or fewer units, $25; Auditors, $20). 2. Board - pro-rated as of end of week in which meal ticket is t urned in to offi ce of student financial affairs. 3. Room - pro-rated as of end of the month in which st udent withd raws. Withdrawal after the second week and before the end of t he eighth week of classes: I. Tu ition - pro-rated as of end of week 3. Room - same as above but pro-rated by the week if room is re-rent ed before end of month. Wi thdrawals aft er eighth week of classes: I. Tuition - no refund. 2. Board - same as above. in which st udent withdraws. 2. Board - same as above.
Applicat ions for GSL may be obtained from the office of student financial services. The student may defer payment until the sixth mont h after graduation Int erest is charged at a rate of eight percent per year and the student has up to ten years to re pay the loan. Nursing Loans (up to $1,500 per year) are available to declared nursing majors. The interest on these loans is six percent Payment may be extended over a ten year period. California Loans to Assist Students (CLAS) is a new student loan program au thorized in 1984. Graduate students, inde pendent st udents and parents may borrow up to $3,000 annually at 12 percent Re payment begi ns 60 days after the loan is made. Student borrowers enrolled full time may defer principal until their status changes. State Aid Cal Grant A 's are made available to hundreds of Californ ia residents each year. Eligi bil ity is based on GP.A and financial need. In add it ion, several students from low income families receive funds through the Cal Grant B Program. Students attendi ng Biola are not eligib le to receive funds through the Cal Grant C program. Institutional Aid Bio/a Scholarships include academic, honor, and president ial awards. Academic: $200 to $1,500. 3.3 GP.A required and SAT scores of at least 800 or equivalent ACT scores; based upon aca demic achievement and financial need. Honor: One-half tuition annually. 3.85 GPA required for entering fresh men and SAT scores of at least I000 or equivalent ACT: 3.60 GP.A required for continuing Biola students based upon aca demic achievement.. President's Award: Full tuition . Senior st anding with intention to graduate at the end of the school year required, along with a minimum 3.60 GP.A, atten dance at Biola for at least two years as well as personal qual ifications.
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