Financial Aid

Church Matching Scholarship

Eligibility:

Demonstrated need based on FAFSA information.

Amount:

Up to $500

Renewable:

Yearly

Deadline:

1. October 1 (Full-year students)
2. March 2 (Spring-only students)

Application:

FAFSA (online) (with Biola listed) and Church Matching Scholarship Application (PDF) with church check attached and made out to Biola

Funding:

Biola Scholarship

Biola will match up to $500 from one church (not multiple churches) every year to both full-year and Spring-only students. Biola will only match the first check received by the deadline of the application. Full-year students will receive the scholarship in the Fall. Spring-only students will receive the scholarship for the spring of that school year.

Graduate Grant

Eligibility:

Determined by financial need. Biola grant calculated on cost of tuition, room and board against other resources available to student; prorated per enrollment.

Amount:

Up to $2,500 per year

Renewable:

Yes, yearly according to need

Deadline:

Priority given to earliest applicants with completed financial aid requirements

Application:

FAFSA (online) (with Biola listed) - Students are encouraged to apply as soon as possible for a FAFSA.

Once students complete FAFSA and submit all other paperwork requested by the Financial Aid Office, the Financial Aid Office will determine Graduate Grant eligibility. If eligible, the Financial Aid Office will contact the student.

Direct Stafford Loan

Eligibility:

1. Minimum half-time enrollment
2. Subsidized: financial need

Amount:

1. Subsidized Teaching Credential - $5,500
2. Graduates & Rosemead Base Amount - $8,500
3. Unsubsidized Teaching Credential - $7,000
4. Graduates Unsubsidized - $12,000
5. Rosemead Unsubsidized - $12,000 - $12,500

Renewable:

Yes, once you sign your Direct Loan Master Promissory Note (MPN) and receive your loan funds, your MPN will be valid for ten years.

Deadline:

June 15th for the upcoming academic year is recommended for all items requested by the Financial Aid Office (including but not limited to the Stafford Application) to be submitted in order to be processed in time for the beginning of the school year. All loan requests must be received no later than the last day of the semester in which the funds are being requested in order to be processed.

Application:

1. (PDF)

Interest:

1. 4.5% for Undergraduate Subsidized Stafford loans with a first disbursement on or after July 1, 2010
2. 6.8% for all other Stafford Loans: all Unsubsidized Loans and Graduate Subsidized Loans, as well as loans first disbursed between July 1, 2006 and June 30, 2008)

Funding:

U.S. Department of Education

Forms:

• (PDF)
• (PDF)
• (PDF)
• (PDF)

Interest on unsubsidized loans begins to accrue as of the date funds are disbursed.

Once students complete FAFSA and submit all other paperwork requested by the Financial Aid Office, the Financial Aid Office will determine whether student is eligible to receive subsidized or unsubsidized funding. The Financial Aid Office will contact the student regarding loan eligibility.

Federal Perkins Loan

Eligibility:

Financial need, minimum half-time enrollment.

Amount:

Renewable:

No. Must apply each academic year.

Deadline:

Given to earliest filers.

Application:

1. FAFSA (online)
2. Complete financial aid file with Biola University Financial Aid Office.

Interest:

5% subsidized.

Funding:

Federal Government

Repayment:

Begins 9 months after graduating, dropping below half-time status.

Once students complete the FAFSA and submit all other paperwork requested by the Financial Aid Office, the Financial Aid Office will determine Perkins Loan eligibility. If eligible, the Financial Aid Office will contact the student.

**Please do not complete Master Promissory Note or Online Entrance Counseling until instructed to do so by the Financial Aid Office.**

(PDF)

(PDF)

(PDF)

(PDF)

Workstudy

Work Study is a form of "campus based" financial aid. The Federal Government provides funds to enable students to work and earn money for college expenses. Any student demonstrating financial need as defined by the government's formula of "Federal Methodology" is eligible for Work Study funds. Need is determined through the FAFSA, and the Financial Aid Office can tell you if you are eligible. To apply, submit the Workstudy Application (PDF). Your application will be reviewed by the Financial Aid Office and processed on a first come, first served basis. The date the form is received in our office will determine your chances of being approved.

Student Employment

Jobs are available both on and off campus, according to the student's ability, capacity to handle the added burden of employment, and financial need. Normally, a student can expect to work 15-20 hours per week when carrying a full class schedule. Previous work experience and hours available for employment will result in better rates of pay than the minimum wage.

Rosemead Assistantships

Eligibility:

Rosemead student, second year and above. Further eligibility requirements and use of funds is established through Rosemead faculty committees.