By Ben Bishop, Director of Financial Aid at Boise Bible College
The cost of college can be daunting but the goal of the Financial Aid Department is to help students conquer the hurdle of finances in order to gain an education and preparation for ministry. There are different methods of funding your education, and here is a brief guide through the different combinations.
The published cost for attending Boise Bible College in the 2019-2020 academic year is about $10,198 a semester. That includes:
- Room and board
- Full-time student life fee
- An estimate for textbooks
- 16 credits at $409 a credit (students can take less but 16 credits a semester is the minimum needed to graduate in 4 semesters for an Associates or 8 semesters for a Bachelors).
The average actual cost of private non-profit 4-year colleges (according to the 2018-2019 College Board) for just tuition (at only 12 credits), fees, room and board is $48,510 a year, which would be $24,255 a semester. That means that BBC is easily half the cost of a college of a similar type!
It is always a good idea to save up for costs that will be valuable for you. Remember Proverbs 21:20, “Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it.” College is one of the greatest investments you can make, so it is best to save up money before you start to attend college.
In the 2017-2018 year about $396,000 in BBC specific scholarships were given to students. In the 2017-2018 year about $133,000 was given to students from outside scholarship organizations, churches, and other generous sources. Taken together on average, that is roughly about $3,480 per student!
Boise Bible College Grants and Scholarships:
Boise Bible College (BBC) awards scholarships to its students for leadership ability, academic merit, ministry desire, and financial need. As a first-time student at BBC, applying for most of our scholarships are as easy as completing your application for admission! No other paper work is required except your final transcript.
Depending on eligibility and availability, incoming students have access to over $9,500 in BBC scholarships! You can find a list of some of our scholarships on the BBC website.
To be eligible for scholarships offered by Boise Bible College, a student must:
- Be in good academic standing with the college.
- Meet deadlines for admission and/or preregistration
- Be enrolled full-time in a two-or-four year degree program. Full-time is defined as being enrolled in 12 or more credits a semester
We will go over some of the scholarships that we offer in future blog posts.
Many civic organizations, churches, and community groups will also award scholarships. Guidance counselors are also a great source for scholarship opportunities. So, it is important for you to work closely with your high school counselor to be sure that you not only complete the classes required for high school graduation but also for college admissions.
College Student Workers
Working part-time while attending school is a great way to offset some of the cost of a college education. Boise Bible College offers employment opportunities in the library, cafeteria, offices, coffee shop, and in custodial or grounds work with schedules that do not interfere with classes. There are many other employment opportunities within a short walk or commute from our campus.
Boise Bible College has a plan that enables you to spread a portion of the cost of a semester’s tuition, fees, room, and board over a four-month period. The more you can put toward a down payment, the less the monthly cost will be.
Federal Financial Aid
Federal aid programs such as grants and student loans are available at BBC. To see what you may be eligible for, please complete the matching Free Application for Federal Student Aid (FAFSA) at www.studentaid.gov for the academic year you plan to attend. This yearly application will determine your eligibility for:
Federal Grants: Unlike loans, grants do not have to be paid back in most circumstances. Eligible Grants include:
- The Federal Pell Grant. The Pell Grant is awarded only to undergraduate students who have not earned a bachelors or professional degree. Federal Pell Grants usually are awarded only to undergraduate students who display financial need and have not earned a bachelor’s or greater degree. The award amount can change yearly. The maximum Federal Pell Grant award is $6,195 for the 2019-2020 award year (July 1, 2019 to June 30, 2020). The amount you may receive depends on your FAFSA information, how many classes you will attend, if you plan to attend school for a full academic year, and other factors like that.
- The Supplemental Opportunity Education Grant (SEOG). This grant may also be available for Pell-eligible students with the greatest financial need (lowest Expected Family Contribution as calculated on the FAFSA).
To remain eligible for future Federal Grants you will need to complete the appropriate FAFSA for every academic year.
Student Loans: Unlike grants and scholarships, loans are borrowed funds that MUST be repaid with interest. Several types of loans may be available to both students and their parents. We recommend that students be wise and carefully consider loans and the amount to be repaid after much research and prayer. Eligible Loans include:
- Federal Direct Loans. There are two types of Federal Direct Loans for eligible students: Subsidized and Unsubsidized loans. The main difference between the two types of loans is that the U.S. Department of Education pays the interest on Direct Subsidized Loans while you are enrolled in at least 6 credits; whereas, you are responsible for the interest payments on Unsubsidized Loans.
- Parent PLUS Loan. Parents may apply for a loan to help their child’s education. If this is a desire, make sure your child has already filled out the Free Application for Federal Student Aid (FAFSA) and then contact the financial aid office for more information.
After you graduate, or leave school, you will have a six-month grace period before you are required to begin repayment. During this period, you’ll receive repayment information from your loan servicer, and you’ll be notified of your first payment due date. Payments are usually due monthly.
For the 2019-2020 academic year for federal aid, first year dependent students could be eligible for up to $11,695 for the academic year (of which $5,500 would be student loans if you choose to use student loans).