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Nazarene Bible College

03/29/2015http://www.nbc.edu/financialaid/

Financial Aid

Financial Aid
Ms. Jenny S. Madsen

Ms. Jenny S. Madsen
Director of Financial Aid

Overview and General Eligibility Requirements

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, be in good academic standing, and enrolled in a degree seeking program 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. Disbursement dates are posted annually in the Schedule of Funds calendar.

Schedule of Funds

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Schedule of Funds (Adobe PDF)

A student must meet the following basic criteria to receive federal student aid:

  1. Complete the FAFSA at www.FAFSA.ed.gov for the academic year in which the student will enroll.
  2. Have a high school diploma, GED or have passed a similar independent test approved by the Department of Education.
  3. Be a U.S. Citizen or eligible non-citizen.
  4. Be enrolled with the Selective Service (if you are male, aged 18-25).
  5. Be enrolled as a regular degree seeking student to receive grants.
  6. Be enrolled at least half time (4 credit hours per term) as a regular degree seeking student to receive loans.

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.

Maintaining Eligibility

Satisfactory Academic Progress

A student must meet Satisfactory Academic Progress Standards (SAP) to be eligible for federal student aid and institutional scholarship aid. Students placed on probation or removal forfeit all rights to financial assistance.

If a student is placed on probation, he may contact the financial aid office to file an appeal and discuss any extenuating circumstances. Students should review the Nazarene Bible College Satisfactory Academic Progress Policy for more detailed information.

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Satisfactory Academic Progress (Adobe PDF)

Enrollment Changes

Financial aid is awarded based on the expectation that students will begin and maintain a full-time (9 credit hours per term) enrollment status. Students who are enrolled less than full-time or who drop courses (never attend a course, or withdraw from a course prior to the first day of classes), may not qualify for all of their aid.

Students who withdraw from classes (attend a course and withdraw after the first day of classes) may be required to repay all or a portion of their federal aid funds. When a student withdraws from a course, the financial aid office must determine the amount of federal aid the student has earned based on the amount of time the student was in class. This means that the date of the student's withdrawal will determine the amount of federal aid the student may keep. If a student withdraws during the NBC refund period (please see tuition and fees for the NBC Refund Policy) the student may also receive a refund of their class costs based on the student's official withdrawal date. Because this calculation is based on several factors, and requires an official withdrawal date, it is difficult to precisely determine the amount a student may need to pay out-of-pocket. Students should review the Nazarene Bible College Withdrawal and Financial Aid Policy for detailed information.

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Withdrawal and Financial Aid (Adobe PDF)

Federal Work Study

Federal work study is a federal student aid program designed to provide part-time employment to eligible students. This program allows NBC to employ a limited number of students both on and off campus. Eligible students are those who complete the FAFSA and demonstrate need for employment.

Federal Work Study awards are wages earned for work accomplished. Students will only receive these funds if they become employed and students are paid for only for hours worked. If a student is awarded Federal Work Study funding, the college will make every effort to provide an employment opportunity, but the student is largely responsible for finding a job. The majority of jobs on campus are in the library and maintenance department. A small number of job opportunities are available in community service positions off campus.

Students who are interested in Federal Work Study should contact the financial aid office for information on individual student eligibility and job availability. All students who apply for Federal Work Study positions will be required to complete a Student Employment Referral Form.

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 nine credit hours or more annually.
  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.) and the Associate of Arts in Ministry (A.A.Min.)

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.