The school participates in the Federal Pell Grant and William D. Ford “Direct Loan Program” Subsidized*, Unsubsidized* and Plus loans*. Subsidized loans are need-based; based on the school’s COA and the Students EFC a determination is made concerning need or lack thereof. Unsubsidized loans are not need-based. School personnel counsels each student carefully as a means of enabling students to minimize the amount of debt incurred while attending school. The Pell Grant is a grant to those that qualify (qualifications is based on family earnings) and does not have to be repaid except in cases where a student fails to complete a specified percentage of a pay period of which they are currently attending. In cases where a student withdraws before completing 60% of the specified pay period, a portion of the grant becomes the student’s liability and as such may create a greater liability on the student in the terms of the balance owed to the school. The financial aid administrator works with students in determining loan amount need(s) and loans must be certified by the school’s financial aid office. All student loans are binding agreements between the student and the U S Department of Education and as such must be repaid. Failure to repay student loans by students to the US Department of Education as scheduled on the promissory note will have adverse effects on the individual’s credit history. Students are apprised of expected federal funds for a specified award on or before the first day of class based on financial and other pertinent information the student provides to the school when filing or verifying FAFSA information. Federal funds are disbursed in pay periods hour increments. Disbursement of federal funds is contingent on students being in satisfactory progress at the scheduled disbursement date. Failure to maintain satisfactory progress as defined in the school’s satisfactory progress policy will cause a student’s federal funds to be withdrawn.
Apply for Financial Aid
Financial Aid is available for those who qualify. In order to apply for Federal Financial Aid, you must complete a Free Application for Financial Aid (FAFSA). This can be done by submitting a paper FAFSA by calling and requesting one at 1-800-4-FED-AID or on the web at www.fafsa.ed.gov. Federal Financial Aid awards and amounts are based on the information provided by the student on his/her FAFSA and are determined by the Department of Education.
BBS’S School Code for the FAFSA is 041779