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The mission at Grace Bible College is to “Graduate Godly individuals prepared to serve Christ in church and society.” To support this mission, the Financial Aid Office strives to provide our students with access to financial resources to help them achieve their educational goals.

Click on a program to learn more information:

Online Program

FAFSA

To receive financial aid, Online students are required to complete a FAFSA (Free Application for Federal Student Aid). This can be done online at www.fafsa.ed.gov.  Online students must be enrolled in at least 12 credits per semester in order to be eligible for full Financial Aid funding from the Department of Education.

 

By filing the FAFSA, online students may be eligible for a Federal Pell Grant, Federal SEOG Grant, and Stafford loans.  Online students are generally only eligible for Federal grants and loans, and any outside scholarships.  Due to discounted tuition costs, Grace’s Traditional institutional scholarships are not offered to online students.

 

To complete the FAFSA, online students must first register for an FSA ID at https://fsaid.ed.gov.This allows students to electronically sign the FAFSA application. FAFSA Tech Support number is 1(800) 443-3243. The Federal School Code for Grace Bible College is 002265.

 

Federal Pell Grant – View GBC’s Awarding Grid

Federal Supplemental Educational Opportunity Grant (FSEOG) – View GBC’s awarding policy

Institutional Scholarships

Grace Online Community Partnership Scholarship:
This scholarship is a 15% tuition scholarship and is available to online students who work for an approved partner organization. If the student works for one of these organizations, the student will be required to provide the Financial Aid Office with a recent pay-stub, or letter, from the organization, indicating their employment with the organization. (An updated pay-stub, or letter, is required each award year.) This scholarship is not available to students who are already receiving the Military Tuition discount, or a GBC Employee Scholarship. To inquire if a student’s employer is an approved partner organization, or to recommend an organization for partnership, please contact our Community Outreach Coordinator, Darlene Ruhl at druhl@gbcol.edu.

Loans

To apply for federal loans, student borrowers must be enrolled at least half-time. Eligibility is determined through the FAFSA and the student must be certified as eligible by the College.  All Grace Bible College students who will be taking out loans will be required to complete the Direct Loan Entrance Counseling and complete a new Master Promissory Note.

 

Online students also have the choice to borrow a Private Loan from a private lender. To search for a lender and apply, simply visit www.elmselect.com and search for Grace Bible College Undergraduate Loans.  Review the Loan Quick Links below for more information.

Graduate Online Program

FAFSA

To receive financial aid, Graduate Online students are required to complete a FAFSA (Free Application for Federal Student Aid). This can be done online at www.fafsa.ed.gov. Graduate Online students must to be enrolled in at least 12 credits per semester in order to be eligible for full Financial Aid funding from the Department of Education.

 

By filing the FAFSA, Graduate students may be eligible for Stafford Unsubsidized loans. (Graduate students are not eligible Federal Pell Grant, Federal SEOG, or Subsidized loans). Due to discounted tuition costs, Grace’s Traditional institutional scholarships are not offered to online students.

 

To complete the FAFSA, online students must first register for an FSA ID at fsaid.ed.gov. This allows students to electronically sign the FAFSA application. FAFSA Tech Support number is 1(800) 443-3243. The Federal School Code for Grace Bible College is 002265.

Loans

After completing a FAFSA, a Graduate student may be eligible to borrow Federal Stafford Loans from the Dept. of Education. If eligible, they will only be offered Unsubsidized loans, as Subsidized loans are not available to Graduate Students. (Unsubsidized loans are charged interest while the student is in school.)

 

Graduate students also have the choice to borrow a Private Graduate Loan from a private lender. To search for a lender and apply, simply visit www.elmselect.com and search for Grace Bible College Graduate Loans.

 

Click below for more information.

Graduate Program Institutional Scholarships

ALUMNI SCHOLARSHIP

This scholarship is a 15% tuition scholarship and is available to students who graduated with a bachelor’s degree from the undergraduate program at Grace Bible College, as determined by the GBC Registrar.

 

Download the Alumni Scholarship Application

 

GRACE ONLINE COMMUNITY PARTNERSHIP SCHOLARSHIP

This scholarship is a 15% tuition scholarship and is available to online students who work for an approved partner organization. If the student works for one of these organizations, the student will be required to provide the Financial Aid Office with a recent pay-stub, or letter, from the organization, indicating their employment with the organization. (An updated pay-stub, or letter, is required each award year.) This scholarship is not available to students who are already receiving the Military Tuition discount, or a GBC Employee Scholarship.  To inquire if a student’s employer is an approved partner organization, or to recommend an organization for partnership, please contact our Community Outreach Coordinator, Darlene Ruhl at druhl@gbcol.edu.

Responsible Borrowing

Many students borrow more than they need for their tuition, books and fees.  We want to strongly encourage you to consider borrowing only what you need or using only subsidized loans when possible.  Subsidized loans do not collect interest while you are attending your program, however, unsubsidized loans do.

 

View the Responsible Borrowing pdf for more information.

Loan Quick Links

Entrance Counseling

Before applying for Stafford and PLUS Loans, you must first complete your Federal Entrance Counseling

 

  • Stafford and PLUS Loan funds will not disburse without completion of your entrance counseling.
  • If you have any questions as you complete the counseling requirements you may email the Financial Aid Office at kpostma@gbcol.edu, or call 1-800-968-1887.
Exit Counseling

To complete your Exit Counseling requirements, please visit studentloans.gov.

 

Also, the National Student Loan Data System (NSLDS) provides students with a centralized, integrated view of Title IV loans and grants so that recipients of Title IV Aid can access and inquire about their Title IV loans and/or grant data. Just click “financial aid review” and log in.

 

If you have any questions as you complete the counseling requirements you may email the Financial Aid Office at kpostma@gbcol.edu, or call 616-261-8557.

Private Loans

In some instances, a student may still need additional loans to cover the remainder of their school bill. Private loans are available to help students meet costs that are not covered by federal, state, and institutional aid.

 

  • Private loans are typically for students who still have an amount owed after applying for Stafford and PLUS loans.
  • Private loans usually require a co-signer, but in some cases (if the student has established credit) the student may be able to apply for a loan without a co-signer.

 

Apply for a private loan at ELMSelect.

Stafford Loans

Apply for Direct Stafford Loans

 

  • Students applying for Stafford loans must complete the Master Promissory Note (MPN).
  • The MPN is considered “the application” for the Stafford Loans. When the MPN is completed, the school is notified and the Financial Aid Office will certify up to the maximum loan amount allowed per student.

 

Direct Federal Stafford Loans
Dependent Students Subsidized + Unsubsidized =Total
1st year undergrad $3,500 + $2,000 = $5,500
2nd year undergrad $4,500 + $2,000 = $6,500
3rd year (up to graduate) $5,500 + $2,000 = $7,500
Independent Students Subsidized + Unsubsidized =Total
1st year undergrad $3,500 + $6,000 = $9,500
2nd year undergrad $4,500 + $6,000 = $10,500
3rd year (up to graduate) $5,500 + $7,000 = $12,500

Veteran’s Benefits

Grace Bible College cooperates with the U.S. Department of Veterans Affairs for the training of honorably discharged service members. Veterans who wish to use the benefits should obtain the necessary forms from the nearest office of Veterans Affairs or GBC’s Registrar. Veterans will be reimbursed directly by the Department of Veterans Affairs and should plan to pay their account in accordance with GBC’s payment schedule.

 

As a military friendly school, Grace Bible College also offers a military tuition discount of $250 per credit hour on all Associate, Bachelor, and Master courses. This discount is offered to all military service members, veterans, military spouses, and dependents 23 or under (Honorable Discharge required).

Vocational Rehabilitation

Applicants with a service-oriented disability handicap should contact the nearest office of Vocational Rehabilitation to learn what assistance is available to them. Benefits are determined according to individual need.

If you have questions regarding financial aid, feel free to contact the Financial Aid Office:

Financial Aid Office – 616-538-2330 – FinancialAid@gbcol.edu

 

Kurt Postma (Director) – (616) 261-8557 – kpostma@gbcol.edu
Jody Ferguson – (616) 264-6651
Megan Patten – (616) 261-8579
Dennis Bergevin – (616) 261-8577
Austin Olson – (616) 261-1564