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Nazarene Bible College

08/01/2014http://www.nbc.edu/financialaid/

Financial Aid

Financial Aid
Ms. Jenny S. Madsen

Ms. Jenny S. Madsen
Director of Financial Aid

Overview

Nazarene Bible College offers financial aid in the form of grants, scholarships, loans, and employment. Federal aid includes the Pell Grant, Supplemental Educational Opportunity Grant (SEOG), and Work-Study, as well as the Perkins Loan and Federal Direct Loan Programs, which provide long-term, low interest loans. In addition, the college offers a limited number of scholarships that are institutionally funded. An individual student's financial aid package may be comprised of one or more of these types of aid. Qualifications for such aid should be discussed with a financial aid counselor. Students are encouraged to visit the Federal Financial Aid website at www.fafsa.ed.gov. The NBC code is 013007. Consumer information related to the financial aid programs of Nazarene Bible College, its policies and procedures, and student eligibility may be obtained by contacting the director of financial aid.

Generally, financial aid is tailored to help meet the needs of the student, but both the student and the college must recognize that the primary responsibility for paying college expenses rests with the student.

Eligibility for the various types of aid is determined by analyzing the information provided on the Free Application for Federal Student Aid (FAFSA). The student may apply for one or more types of aid depending upon qualifications and the funds available. The student must be enrolled for at least four hours and be in good academic standing to be eligible for federal aid. However, the student may, in certain cases, be eligible for a Federal Pell Grant for enrollment of less than four hours. Students must be enrolled in and attend at least four credit hours to receive loans. All financial aid is disbursed by crediting one-third of the total award to the student's account each trimester. For AdVantage students enrolled in a summer term, financial aid may be split into four disbursements.

Note A student must reapply each year for federal aid and institutional aid. The director of financial aid is responsible for the administration of all financial aid funds.

Limitation

A student not officially pursuing a degree is not eligible for federal aid.

Forfeiture

A student placed on probation because of disciplinary or academic reasons may forfeit all rights to financial assistance. If a student drops below four hours, institutional aid is also forfeited at the rate of refund listed in Policy on Refunds section.

Nazarene Bible College Alumni Matching Grant

A special one-time matching grant is available to new or transfer degree-seeking students according to the following policy:

  1. Funds given by the student's home Church of the Nazarene will be matched by the Alumni Association. The maximum amount per student will be established each year. Currently, the Alumni Association will match up to $150 from the student's home Church of the Nazarene.
  2. The student must be enrolled for eight credit hours or more.
  3. The student should present a letter from the pastor of the church making the grant, indicating the student(s) to receive the grant.

Veterans Benefits

Nazarene Bible College is approved for the training of veterans. At the present time, the specific approved programs for which the veteran may receive educational benefits are the Bachelor of Arts in Ministry (B.A.Min.), the Associate of Arts in Ministry (A.A.Min.), and the Associate of Arts in General Studies (A.A.G.S.).

VA students should go to www.gibill.va.gov to apply for benefits or to make benefit changes. Veterans who have been approved to receive GI Bill Benefits should submit a copy of their VA Letter of Certification to the Financial Aid office.

Veterans Administration Requirements

To maintain certification for Veterans Administration benefits, a student must earn a grade point average of 2.0 or better. Failure to do so will result in VA benefit probation the following trimester. If the student does not meet minimum requirements for two successive trimesters, loss of certification for VA benefits will result.

A student may receive benefits for repeating a course if that course is required in the program of study. The law prohibits payment of benefits for courses not included in a student's program of study or courses from which the student withdraws. Payment of tuition and fees is allowed for courses taken by directed study.