11 FINANCIAL INFORMATION
................. Biola's student/faculty ratio is 14 to 1, helping to ensure accessibility to instructors and personal attention. Our faculty is comprised of top experts in various fields, with 65%ofour faculty members holding doctoral degrees.
UNDERGRADUATE FINANCIAL AID Federal Aid The PELL GRANT (FORMERLY BASIC EDUCATIONAL
Withdrawal after the second week and before the end of the eighth week of classes: 1. Tuition - pro-rated as of end of week in which student withdraws. 2. Room - end of the month in which the student officially 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 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 tuiti9n 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 registration fee. - In a two week course - no refund the second week. - In a three or four week class, 30 percent refunded during the second week, none thereafter. - In five week classes, 58 percent the second week, 30 percent the third week, none thereafter. Tuition refunds for class changes (where applicable) will be made in the same manner as refunds for with drawals (i.e., full refund within first two weeks of class es 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 official withdrawal date determining the amount of refund. 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 refundable in the same manner as tuition, except no refund after the sixth week. FINANCIAL AID INFORMATION It is the desire of Biola University, within the limits of its resources, to provide financial assistance to needy students, especially those who, without such aid, would not be able to attend Biola University. The office of student financial services offers coun seling and assistance in ascertaining the most appropri ate forms of financial aid for each student. Biola University does not discriminate on the basis of sex, race, color or national and ethnic origin in administration of its scholarship and loan programs.
OPPORTUNITY GRANT) program is a federal program which is designed to assist students with financial need. The maximum grant for 1988--89 was $2,200. The SUPPLEMENTARY EDUCATIONAL OPPORTUNITY GRANT (SEOG) program, supported by the federal government, is designed to help needy students. WoRK STIJDY 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 remaining 20%. Wages paid to students in the work study program vary accord ing to the student's qualifications and duties performed. Under the PERKINS LoAN (NDSL) , a student may borrow up to $4,500 in his first two years of study and $9,000 by the end of his first undergraduate degree. Repayment of Perkins Loan begins nine months after graduation or withdrawal from school. If the total amount is paid within nine months of graduation, inter est will not be accrued. 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. STANFORD LoAN (GSL) are available through local banks, credit unions and savings and loan associations, for citizens and nationals of the United States, or those in the country for other than a temporary purpose. It is the lender's option to make or deny the loan. Banks may require a deposit relationship. The program allows students to borrow up to $2,625 as freshmen and sophomores and up to $4,000 as juniors and seniors. Applications for GSL may be obtained from the office of student financial services. The student may defer payment until the sixth month after graduation. Interest is charged at a rate of eight percent per year and the student has up to ten years to repay 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. SUPPLEMENTAL LoANS FOR STUDENTS-SLS (formerly known as CLAS) is a new student loan program autho rized in 1984. Graduate.students, independent students and parents may borrow up to $4,000 annually at a vari able interest rate. Repayment may be deferred while the student is enrolled in six or more units. Interest continues to accrue during this time. State Aid CAL GRANT P.:s are made available to hundreds of California residents each year. Eligibility is based on G.PA and financial need. In addition, several students from low income families receive funds through the Cal Grant B Program. Students attending Biola are not eligible to receive funds through the Cal Grant C program.
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