Epic Bible College

Federal Aid

Pell Grant
This is a federal grant for students who show financial need. Pell grants range from $555 -5550 for the 2010-2011 school year at full time. You do not necessarily have to be enrolled full time to receive a Pell grant. Pell grants are adjusted depending on the amount of units taken up to 12 units.

Academic Competitiveness Grant (ACG)
For students who have graduated since 2005 may be eligible to receive the ACG. Each student must be a Pell eligible student. Students who have completed a rigorous course of study after January 1st of their senior year will receive an ACG. The ACG amount is $750.00 for first year students and $1300.00 for second year students. Students must be taking at least half-time 6 units per quarter. The last portion of the FAFSA will ask you the course of studies taken and if you fit the criteria verification will be needed. Please contact us for more information.

FSEOG
The Federal Supplemental Education Opportunity grant is available for those who have an EFC of zero. The award amount for the year is $500.00 for those who do not have a cal grant that pays tuition and fees. those who have a cal grant with tuition fees will receive $100.00. Those who are eligible will receive $167.00 per quarter who do not receive cal grant tuition and fee. FSEOG funds are reasonably available to all who qualify throughout the year. Funds are limited and subject to change

Federal Direct Subsidized Loan
Subsidized Stafford loans are based on financial aid need. Interest is paid by the federal government (subsidized) while the student is enrolled at least half time. Payment of both interest and principal begins 6 months after the student graduates, or drops below half time. The interest is based on an annual fixed rate (4.5% in school; 4.5% during repayment in 2010-2011). The FAFSA is required to apply for this loan. July 1, 2011 interest rate will be 3.4% and July 1, 2012 6.8%.

Students need to complete a Master Promissory Note (MPN) to apply. Students applying for a loan will also be required to complete an entrance counseling with the Financial Aid Director or at www.studentloans.gov. An exit counseling can also be done online at www.studentloans.gov. Loan application will also be obtained through the financial aid office. Additional information and instruction will be sent with the Award Letter.

Federal Direct Unsubsidized Loan
A loan available to students who do not qualify, in whole or in part, for a Subsidized Stafford Loan. The student is responsible for the interest while enrolled. Repayment may be deferred until 6 months after the student graduates or drops below half-time enrollment. Interest accrues during the time the student is enrolled. The interest rate is based on an annual fixed rate (4.5% in school; 4.5% during repayment in 2010-2011). The FAFSA must be completed to apply for this loan. Students may also need to complete a Master Promissory Note (MPN) to apply for the loan. Additional information will be sent with the Award Letter.

Federal Direct Parent Loan (PLUS)
Available to parents and graduate students to cover educational expenses. May borrow up to the cost of attendance minus financial aid. Interest rate is variable not to exceed 8.5% for the 2010-2011 school year. Interest and repayment begin while student is enrolled. The FAFSA is required to apply for the loan and eligibility is based upon the credit of the parent.

Stafford Loan Limits

Maximum Aggregate Borrowing Limits

Federal Work Study
This program offers students an opportunity to earn wages to help meet the cost of education. Many jobs are located on campus. Students who wish to work on campus under this program are responsible to seek employment and may contact the Registrar’s office for a list of available positions. The amount a student may earn will be determined by financial aid need and the actual hours and wage of the Federal Work Study position. A FAFSA must be submitted along with a Federal Work Study Application, which is available in the Financial Aid Office.