Financial Aid Disbursements and How They Work

Pell Grants

  • Must be enrolled in at least three credit hours
  • Awarded only up to full-time (12 hours) per semester
  • Only eligible to receive the federal pell grant for 6 years
  • Available to undergraduate students only
  • Pell grants will be Pro-rated based on enrollment under 12 credit hours
  • Must meet all federal government eligibility requirements
  • Want more information on the federal pell grant? click here.

Federal Loans

  • Must be enrolled at least half-time; six hours for undergraduate and five for seminary
  • First time borrows will have their federal loans disbursed 30 days after the first official day of classes.  (if enrolled in more than 6 hours)
  • Must meet all federal government eligibility requirements
  • Want more information on federal loans? click here.

BBC Aid

  • Home church must support the school financially $100 per month or $1,200 per year.
  • Disbursements based on enrollment
  • Disburses 21 days after the student becomes eligible
  • Institutional scholarships require active enrollment in at least 12 credit hours, or full-time status
  • Student must meet all BBC Aid eligibility requirements based on the award
  • Pays towards outstanding balance items first
  • May be subject to the General Scholarship Rule

Refunds

For information and timelines for processing refunds, visit our Student Account Office, the Financial Aid Office does not process refunds.

Reducing, Cancelling, or Returning Loan Funds

Students who have not received a refund from a loan credit balance and wish to reduce or cancel the loan disbursement, or a future loan before disbursement, can make an adjustment by filling out the loan adjustment/cancellation form available in the Financial Aid Office.