Biola University Financial Aid and Scholarships
Students Receiving Aid
99%
Total Aid Amount
$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.
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