Scholarship and Financial Aid Opportunities
As a fully online bachelor student at Biola University, you have the opportunity to earn your degree at roughly one-third of the cost of regular tuition. Your financial aid opportunities differ from our traditional undergraduate aid, so learn more about the aid options available below.
Questions About Online Bachelor’s Student Aid?
If you’re looking for more information about financial aid opportunities for online bachelor’s students, contact the Financial Aid Aid Office at (562) 903-4742 or email us at finaid@biola.edu.
Loans
Online bachelor’s students who are U.S. citizens are eligible for the federal loans listed below, and should note that because of the mandatory trimester structure for online bachelor’s degree programs, any aid received is split into thirds (as opposed to halves, based on a traditional semester schedule).
Direct Subsidized & Unsubsidized Loans
The Direct Loan is a loan funded by the U.S. Department of Education that must be repaid with interest. Amount determined by the Free Application for Federal Student Aid (FAFSA).
Amount and Interest |
For current loan interest rates and origination fee amounts, please visit the Federal Student Aid website. |
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Application | Students must complete the following applications:
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Deadline | April 15 — This is the recommended deadline 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. |
Eligibility | Students must meet the following eligibility requirements:
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Repayment | Loan repayment is deferred while a student is enrolled at least half-time in a degree program. Repayment typically begins six months after a student drops below half-time enrollment. |
Renewable Status | Yes, this loan is renewable yearly (with the completion of a FAFSA). MPN is valid for up to 10 years. |
Graduating/Departing Information | Students must complete exit counseling online in preparation for graduating/completing their program. |
Direct Parent PLUS Loan
Credit-based loan for parents of dependent students who are enrolled at least half-time.
Amount and Interest | Up to cost of attendance minus financial aid. For current loan interest rates and origination fee amounts, please visit the Federal Student Aid website. |
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Application | See the following required applications:
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Deadline | June 1 — This is the recommended deadline 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. |
Eligibility | Students and parents must meet the following eligibility requirements:
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Repayment | Loan repayment is deferred while a student is enrolled at least half-time in a degree program. Repayment typically begins six months after a student drops below half-time enrollment. |
Renewable | No, this loan is not renewable. Parents must reapply each academic year. |
Private Student Loan
You may choose to borrow Private Student Loan funds from a private financial institution to help fund your education after all other resources have been exhausted:
- Federal direct loans are required by law to provide a range of flexible repayment options, including, but not limited to, income-based repayment and income-contingent repayment plans, and loan forgiveness benefits, which other student loans are not required to provide.
- Federal direct loans are available to students regardless of income, whereas private student loans are dependent on student (and cosigner) credit. Private loans are not federally funded, and are dependent on student (and cosigner) credit. Private loans tend to have higher interest rates than federal direct loans, and in most cases, Parent PLUS loans.
Amount and Interest | Minimum loan amounts begin at $1,000 and may also be large enough to cover the remaining cost of attendance (varies by lender). Maximum loan amounts are determined by subtracting all of a student's financial aid from their cost of attendance for the school year. Interest rates vary by lender. |
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Application | Students can complete a loan application with their chosen lender, or may look for a lender on our Preferred Lender List. Please note the following additional details:
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Deadline | June 1 — This is the recommended deadline 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. Please allow 4–6 weeks for processing. |
Eligibility | Generally, the borrower must be a U.S. citizen, eligible non-citizen with a U.S. address, or an international student with a U.S. citizen cosigner (varies per lender). |
Cosigner Requirements | Criteria varies per lender. Unless you are steadily employed, earn at least $12,000 a year, and have a stable credit history with a good FICO score (over 700), you will more than likely need a cosigner in order to be approved for a private student loan. |
Renewable Status | No, these loans are not renewable. Students must apply yearly using the application resources linked above. |
Grants
Online bachelor’s students who are California residents and demonstrate financial need may be eligible for the specific federal grants listed below.
Cal Grant A
A tuition-specific, state entitlement award, funded by the California Student Aid Commission (CSAC).
Amount | Up to $9,358 (depending on unmet need). Prorated per enrollment status, and the amount subject to change pending the approval of the state budget. |
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Application | Students must review the following application guidelines:
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Deadline | April 2 |
Eligibility | Students must meet the following eligibility requirements:
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Renewable Status | Please see the following grant renewal details:
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Cal Grant B & Living Allowance
A tuition-specific, state entitlement award, funded by the California Student Aid Commission (CSAC).
Amount | Please see the following Cal Grant B amount details:
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Application | Students must review the following application guidelines:
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Deadline | March 2 |
Eligibility | Students must meet the following eligibility requirements:
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Renewable Status | Please see the following grant renewal details:
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Pell Grant
Amount | Up to $6,895. Prorated per enrollment status. |
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Application | Students must review the following application guidelines:
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Deadline | There is no deadline for this grant. |
Eligibility | Students must meet the following eligibility requirements:
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Renewable Status | This grant may be renewable based on availability of funds and eligibility each year. |
SEOG (Supplementary Educational Opportunity Grant)
A federal need-based grant, awarded by the Office of Financial Aid.
Amount | Up to $1,800. Grant is coordinated with all other grants and scholarships received. |
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Application | Students must review the following application guidelines:
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Deadline | There is no deadline for this grant. Availability of the grant is based on availability of funds. |
Eligibility | Students must meet the following eligibility requirements:
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Renewable Status | This grant may be renewable based on availability of funds and eligibility each year. |
Additional Resources
Know Your Options
The Office of Financial Aid provides different resources that can help you plan out your finances as you pursue your Biola education.
Financial Aid Counseling
Have questions about the process? Call us or come by our office for a drop-in appointment with a knowledgeable financial aid counselor — they can help.
Contact Us
The Office of Financial Aid is here to answer questions you have about the financial aid process. Contact us in person, by phone or email.