Applying for Financial Aid
Financial Aid in 9 Easy Steps for BOLD students. Really!
Step 1: Complete the FAFSA.
This is the starting point for determining all financial aid. The FAFSA is available in January of each year and should be submitted as early as possible after January 1. Completing the FAFSA does not obligate you to take out a loan. For form information please visit the FAFSA website. The FAFSA Filing Guide is available at any of BOLD Education Centers or you may call the Financial Aid Office at 562-903-4742.
You MUST file a FAFSA each year to receive Financial Aid.
Step 2: Complete your Stafford Loan application.
Stafford Loans are the main form of Financial Aid for BOLD students. In order to receive a Stafford Loan, you must complete online the Stafford Loan Entrance Counseling and a Stafford Loan Master Promissory Note. A link to begin the loan application process is available on the loans page.
Step 3: Complete your Financial Aid file.
Check your mail for Financial Aid packet and submit any additional information the Financial Aid Office requests. You may be required to submit your tax returns (signed copies of those you filed with the IRS) or other documents. See the forms page for details on downloading forms.
NOTE: Since the information required varies for each student, please do not submit any forms until you receive instructions regarding which ones the Financial Aid Office will need from you.
Your file will be reviewed once you have submitted all the requested information to the Financial Aid Office and your file is complete. Occasionally, we need to request additional information to process your file. Files are reviewed on a first come, first served basis.
NOTE: It is recommended that you complete your file a minimum of two weeks prior to the start of your first night of class.
Step 4: Receive notification of your Confirmed Financial Aid Award.
Your Financial Aid award is based on the information available to us at the time. Any changes to your schedule, resources or weeks of attendance may change your award. If you only want partial student loans, you will need to send a ‘signed’ note to the Financial Aid Office explaining exactly how much of your loans you want.
Step 5: When will my Financial Aid post to my student account?
Funds are disbursed no sooner than the 3rd week of the term. Funds for subsequent terms are held pending satisfactory progress checks from the prior term. (Yes, we do check your grades each and every term.) Any interest accrued on your student account as a result of federal requirements is the responsibility of the student.
Step 6: Contact your Account Counselor regarding any additional payment needed after your aid is applied.
Financial aid rarely covers all your charges. Depending on the lender that you chose when filling out your Online Stafford Loan Master Promissory Note, you may have associated lender fees take out of your total loan amount before it is applied to your student account. Returning to school is a commitment, both academically and financially. Plan ahead and be prepared.
Our goal is to partner with you in providing for your education. There are payment plans available for those unable to make full payment.
Step 7: How often do my funds arrive?
Financial aid is awarded based on three terms per year—Fall, Spring, and Summer. Financial aid is applied to your student account on a one third per term basis. In order to receive financial aid in any term, you must be enrolled at least half-time in that term.
Step 8: What if I need additional funds?
The Financial Aid Office views a Private Student Loan as a next to last resort. We encourage students to try other options before applying for a Private Student Loan. We will encourage you to check with your employer about employer reimbursement. If you have no other options for financing your education and you need to take out a Private Student Loan, shop around for the best rate and benefits. It is vitally important that you notify the Financial Aid Office when you have completed a Private Student Loan application.
Step 9: What do I do if I have questions?
Meet with your advisor at your Education Center first. Many questions can be answered at your site without calling the Financial Aid Office. Your site can also direct you to the correct office. Sometimes the question should be directed to the Accounting Office or the Office of the Registrar. Should you need to contact us, please call 562-903-4742. It is important that you identify yourself as a BOLD student. The same office that takes care of over 5,500 traditional students also takes care of our BOLD students. If you prefer, you may email the Financial Aid Office at finaid [at] biola [dot] edu. Please Check "My Biola" to verify if and when items are received. Do not call or ask for confirmation. The Financial Aid Office receives hundreds of items every day. Allow a minimum of three days for receipt of items sent.