Federal financial aid helps students pay for most kinds of education after high school. Federal financial aid includes Federal Pell Grant, Federal SEOG (Supplemental Educational Opportunities Grant), Federal College Work Study, and Stafford Subsidize Loan. Grants are awarded based on need and income, and do not have to be repaid. Stafford Subsidize Loan is also based on need and income, but must be repaid once the recipient graduates or withdraws from the university. However, payments do not have to begin until six months following graduation or withdrawal, during which time no interest is accrued. Interest is set by the federal government. The recipient of a Stafford loan is responsible for making payments until the loan is fully repaid. Financial Aid is available to assist those qualified students wishing to attend Bethesda, but not having the means to do so. The primary responsibility for financing an education belongs to the student and his/her family. The Board of Trustees has made a major commitment to assist all students by keeping tuition and fees at a low rate. Financial Aid at Bethesda is based upon need. Need is defined as the difference between the cost of attending Bethesda and the Expected Family Contribution (EFC) toward the cost. The Federal "Free Application for Federal Student Aid" (FAFSA) is the form from which EFC is calculated. Bethesda does administer several Federal Title IV aid programs: Federal Pell Grant: This federally funded grant is based upon financial need. Awards range up to $4,000 per year for full‑time students and are available to college students who have not previously earned a bachelors degree. Federal Supplemental Education Opportunities Grant (SEOG): Awarded to Pell eligible college students with exceptional demonstrated financial need. Priority is given to students with 0 (zero) EFC. Federal College Work Study Program: Provides employment opportunities for students to assist them in earning the funds necessary to meet college expenses. The student normally works 10‑15 hours a week, not to exceed 20 hours per week. Federal Family Educational Loan Program (Stafford Loan Program): The Stafford Loan is a low interest loan made by a participating lender. The loan limit is determined by federal guidelines. Loans are available to college students. Repayment begins after a borrower ceases to be enrolled at least half time and making normative academic progress. Institutional funds are granted only to full-time students and all applicants must file a FAFSA. To Apply for Federal Title IV Financial Aid: Students must demonstrate an eligibility to receive financial aid. To be eligible to receive financial aid a student must: 1. Be a United States citizen or permanent resident. 2. Be enrolled in an “Eligible Program” for the purpose of obtaining a degree or certificate. 3. Not be enrolled in secondary school. 4. Have a financial need. 5. Meet the academic qualifications; must have high school diploma or recognized equivalent, such as a GED. 6. Be making satisfactory academic progress toward graduation. 7. Be registered with the Selective Service if a male, at least 18 years of age, and born after December 31, 1960. 8. Not be enrolled in remedial coursework, but also in an eligible program. 9. Not be in default of any Title IV loans. 10. Not have been convicted of a drug related offenses. 11. Be enrolled at least halftime to receive FFEL/Direct Loan Funds. 12. Have a valid social security card number. 13. Must not be incarcerated. Student guides, loan information brochures, and personal counseling are available in the Financial Aid Office. Scholarships are also available for honor students who achieve a 4.0 grade point average during any semester. For a pastor’s family, excluding married children, scholarships are available for students who pursue the B.A. degree in Religion. Title IV Refund Policy Title IV regulations require any institution participating in the Title IV program to establish a Return of Federal Funds Policy that is fair, equitable, and uniformly applied. This policy is used to return unearned tuition, fees, and room and board charges when a student does not complete a period of enrollment. Bethesda Christian University applies the U.S. Department of Education Return of Title IV Policy. A calculation must be completed when a recipient of Title IV grant or loan assistance withdraws from the institution during an enrollment period in which the recipient began attendance. The institution must determine the amount of Title IV grant or loan assistance that the student earned as of the withdrawal date. The institution then determines the amount of aid that is unearned as of the withdrawal date. The funds are returned from the proper source, according to federal guidelines, and are returned to the proper source, also according to federal guidelines. Up through the 60% point in each payment period or period of enrollment, a calculation is used to determine the amount of Federal Student Aid funds the student has earned and unearned as of withdrawal date. A student has earned 100% of the Federal Student Aid after the 60% point in payment period or period of enrollment. Any unearned funds should be returned using U.S. Department of Education Return IV Policy. In returning the funds when a student withdraws from BCU, RT4 worksheet is used. School must always complete return calculation within the 45 days of the date the institution determined the student withdrew. Student has earned 100% of the Title IV funds he or she was scheduled to receive after the 60% point in the payment period.
