STEP 1: COMPLETE A FAFSA
Completion of the Free Application for Federal Student Aid (FAFSA) will determine your eligibility for the Federal Pell Grant, Federal Stafford Loans, selected state grants, and various scholarships. Applications can be submitted as early as January 1st of the year of attendance. It is in your best interest to complete the FAFSA as early as possible. Please visit https://fafsa.ed.gov to begin your FAFSA now.
STEP 2: complete a mpn
The Master Promissory Note (MPN) for Direct Stafford Loans is an agreement between the borrower, the lender, and the school. This agreement authorizes the school to credit the funds to the student’s account. The MPN is simply your promise to repay the loan under the terms detailed within it. (It is important to note that completing the MPN does NOT mean you are required to take out a loan.) Your FAFSA generally prompts you to complete the MPN, but you can also complete it by visiting https://studentloans.gov/myDirectLoan/index.action.
STEP THREE: COMPLETE STUDENT INITIATED PACKAGING INTERVIEW
Completion of the Student Initiated Packaging (SIP) Interview will provide our college with the data needed to process your financial aid. This is a one time only interview you will not have to complete this step again during your time as a student at BBC. Once the interview is completed, you will be able to view a preliminary financial aid package, but please note that these figures may be adjusted once your information is processed. Please visit Student Initiated Packaging to begin your SIP Interview now.
step four: complete entrance/exit counseling
Students who are requesting loans to fund their higher education MUST complete entrance counseling. Entrance Counseling is a required instructional session that explains the borrower's rights and responsibilities. Please visit https://studentloans.gov/myDirectLoan/counselingInstructions.action?counselingType=entrance to begin your Entrance Counseling.
Every student borrower who withdraws, graduates or drops below half-time status (six credit hours), must undergo Exit Counseling to prepare them for loan repayments. Our Financial Aid Office will alert the students of this process via email, mail or phone call.
ONCE THE STEPS ABOVE ARE COMPLETED, PLEASE KEEP THE FOLLOWING IN MIND:
You may be selected for verification.
The Department of Education randomly selects students for a process called verification. You will receive emails from the Department of Education until you have submitted the proper documentation needed. This might include copies of the student’s, parent’s, or spouse’s federal tax transcripts, W-2 forms, and verification forms. Once you have gathered the required documents, you can submit them to the BBC Financial Aid Office. If you have trouble obtaining the required documents, let the Boston Baptist College Financial Aid Office assist you.
There are other financial aid opportunities available for you.
After reviewing your financial aid package and scholarships, you may decide to apply for a private student loan to cover the remaining costs of your education. (This is not required; it is simply an option available for you.) Please visit http://www.elmselect.com/link/query?schoolid=372 to view our Preferred Lender List.
You should research outside scholarships and grants.
Grants and scholarships are forms of financial aid that do not need to be repaid. It will be highly beneficial to you to apply to as many scholarships and grants as you can or which you are eligible.
