$4,934

Avg. Federal Grant

$5,506

Avg. Federal Loan

$80,196,154

Total Aid Awarded

Biola University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

99%

Total Aid Amount Average Total Aid Awarded per year.

$80.196M

Financial Aid Official Website

https://www.biola.edu/undergrad/financial-aid

Interestingly, almost all of the students at BU receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $14,526,754 in a year. More information regarding the financial assistance schemes can be accessed on BU’s official financial aid page at https://www.biola.edu/undergrad/financial-aid. The total percentage of candidates applying to Biola University who receive the Federal Grant is 28%. On the other hand, 99% of the candidates get the Student Grant, 99% receive the Institution Grant, and 28% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,013, while the same comes to $7,914 for State Grant receivers and $19,233 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,624. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Students whose family income per annum is less than $30,000 will receive a federal aid of $26,173 on average in a year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $24,115 and $20,687, respectively. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $18,577. And, for those with a family income of more than $110,000, the amount stands at $14,922. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At BU, an estimated number of 57% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

30%

State Grant Aid

28%

Institution Grant Aid

99%

Pell Grant

30%

Average Aid Awarded

Federal Grant Aid

$4,934

State Grant Aid

$8,028

Institution Grant Aid

$17,195

Pell Grant

$4,624

As shown in the table the breakdown includes Federal Grants, Pell Grants, state grants, and institutional grants, with institutional grants having the highest contribution of 99% with an average aid amount being $17195.

Pell grants have a percentage of 30% with an average aid amount of $4624 which is lower than the State grant aid average of $8028.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$28,746

$30,001 - $48,000

$26,791

$48,001 - $75,000

$25,267

$75,001 - $110,000

$21,022

Over $110,000

$15,061

As shown in the table lower the family income higher is the amount of aid one can expect to receive. Those students who have a family income under $30,000 can expect to receive an aid amount of $28746 while those with family income over $110,000 can expect to receive an aid amount of $15061. This helps students who are coming from low-income homes to pay for their degrees.

Student Loans for Biola University

Average Loan Amount Average Loan Amount received per year.

$8,207/Year

Students Taking Out Loans

62%

Loan Default Rate

2%

Other Colleges In California

University of California
University of California

Oakland, California

Other Private not-for-profit Colleges

Harvard University
Harvard University

Cambridge, Massachusetts

Independence University
Independence University

Salt Lake City, Utah