Undergraduate Financial Aid Federal Aid The Pell Grant (formerly Basic Educa tional Opportunity Grant) program is a federal program which is designed to assist students with financial need. The maxi mum grant for I 983-84 was $1 ,800 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 remaining 20% Wages paid to students in the wo1·k study program vary accord ing to the student's qualifications and dut ies pe1iormed. Under the National Direct Student Loan Program, a student may borrow up to $3,000 In his first two years of study and $6,000 by the end of his first undergrad uate degree. R payment of NDSL begins 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 fo1·ces 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 nationals of the United States, or those in the country for othe1· 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 bo1-row up to $2,500/year as undergrad uates, but some lenders may have lower limits.
Finance Charges One percent of the unpaid balance shown on each monthly statement will be added to the account as a finance 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 stated. A student is not registered and cannot attend classes until satisfactory financial ar rangements have been made with the of fice of student financial services. Refunds Inasmuch as faculty engagements and other commitments are made by the un i v~rsity for the entire year in advance, t he 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 withdraw from school: W ithdrawal within the first two weeks of classes: I. Tuition - full amount, less enrollment deposit (students with six or fewer units, $25; Auditors, $20). 2. Board - pro-rated as of end of week in which meal ticket is turned in to office of student financial affairs. 3. Room - pro-rated as of end of the month in which student withdraws. W ithdrawal after the second week and before the end of the eighth week of classes: I. Tuition - pro-rated as of end of week
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 nine 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 t hese 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 1983. Graduate students, inde pendent students and parents may borrow up to $3,000 annually through this pro gram. Repayment begins 60 days after the loan is made. Student borrowers enrolled full time may defer principal until their sta tus changes. State Aid Cal Grant A 's are made available to hundreds of California residents each year. Eligibility is based on GP.A. and financial need. In addition, several students from low income fami lies receive funds through the Cal Grant B Program. Students attending Biola are not el igible to receive funds through the Cal Grant C program. Institutional Aid Bio/a Scholarships include academic, honor, distinguished student, academic achievement and presidential awards. Academic: $200 to $1,000. 33 G.PA. required and SAT scores of at least 800 or equivalent ACT scores; based upon academic achievement and financial need. Honor: One-half tuition annually. 3.85 G.P.A. 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 standing with intention to graduate at the end of the school year requi red, along with a minimum 3.60 G.P.A., atten dance at B1ola for at least two yea1·s as well as personal qualifications.
3. Room-same as above. lnterterm and summer session refund policy I . Room is pro-rated to the 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 to 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 three 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 t hereafter. Tuition refunds for class changes (where applicable) w ill be made in the same man ner as refunds for withdrawals (i.e.- full re fund within fi rst two weeks of classes and pro-rated refund after second week until end of eighth week). All refunds must be requested by prop erly complet ing and submitting a depar ture card or class drop form, the official withdrawal date determining the amount of refund. Laboratory and activity fees are refundable only if withdrawal is on or be fore 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 finan cial 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 counseling and assistance in ascertaining the most appropriate 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.
in which student withdraws. 2. Board - same as above.
3. Room - same as above but pro-rated by the week if room is re-rented before end of month. Withdrawals after eighth week of classes: I. Tuition - no refund. 2. Board - same as above.
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