Financial Aid
College can be expensive. For some, attending Free Will Baptist Bible College is impossible without some form of financial help. Several kinds of financial aid are available to help defray these costs.
The majority of financial aid is based on a student’s documented financial need (see definition of financial need below). If you think you qualify for any form of financial aid, please read the following information carefully and apply according to the stated procedure.
Definition Of Terms
- AGI—Adjusted Gross Income.
- Documented Need—cost of attendance at the college minus the amount which a student’s family is expected to contribute (as determined by a federal formula) toward his/her education.
- Estimated Family Contribution (EFC) —the amount which a student’s family is expected to contribute toward his/her education. This amount is determined by a federal formula.
- Free Application for Federal Student Aid (FAFSA) —need analysis form used to collect all relevant family financial information. The federal formula is then applied to this information.
- Grant—financial assistance that is awarded to students which they will not be required to repay.
- Need Analysis —the process whereby all relevant family financial information is analyzed according to federal formulas and both documented need and Pell Grant eligibility are determined.
- Federal Pell Grant—federal grant which is the “foundation” grant for all need-based financial aid.
- Federal Stafford Loan—federally guaranteed, need-based loan which requires a separate application. Payments and interest begin six months after graduation or enrollment status becomes less than half time (6 hours). The annual interest rate is variable.
- Student Aid Report (SAR) or Information Summary—this document, which all applicants for federal aid will receive, indicates a student’s eligibility for federal aid.
- Federal Supplemental Educational Opportunity Grant (FSEOG)—federal grant program which is administered through the college to help needy students.
Free Application for Federal Student Aid
www.fafsa.ed.gov
Do You Have Questions?
If you have any questions about financial aid, please email us at fao@fwbbc.edu. We’ll be glad to help you in any way we can!
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