Financial Aid

Alaska Bible College believes that if God has called an individual to pursue Biblical and ministry training He will provide financially for that education. We also believe that a student shows integrity and responsibility when financial commitments are fulfilled. Students finance their education in many ways: Savings, earnings during the school year, gifts from churches, family and friends, grants, and loans.

If you have questions about receiving financial aid, please contact our financial aid office at financialaid@akbible.edu, or 907-745-3201.

To qualify for any financial aid at Alaska Bible College, students must have a financial need, and be enrolled in a degree program in good academic standing. All ABC scholarships are applied to a student’s account last in order, after all other scholarships / grants. Federal, State, and other private scholarships and grants are applied before any ABC scholarship is applied to a student’s account. No ABC scholarship will be applied to an account at or above a zero balance. As such, no ABC scholarship is ever paid out to a student due to a credit.

We Accept…

Federal Grants & Loans

State Grants & Loans

Tribal Grants & Scholarships

Veterans' Benefits

ABC Scholarships & Discounts

Private Scholarships & Loans

Apply for Aid

The first step to receiving ANY type of financial aid at ABC is to submit the Free Application For Federal Student Aid (FAFSA).
Begin FAFSA

Federal Grants & Loans

Pell Grant
Federal student aid offered to first-time undergraduate students enrolled in a bachelor’s degree or certificate program. Funding is designed to assist low- to middle-income students. Maximum grant is $5550/academic year and is determined by the Department of Education. Students complete a Free Application for Federal Student Aid (FAFSA) each academic year to apply for all federal financial aid.
Federal Supplemental Education Opportunity Grant
Eligibility for FSEOG is based on financial need as determined by information given on the FAFSA. Students must meet general eligibility requirements of Pell, basically demonstrating financial need.
Federal Work-Study
This federally subsidized program allows Alaska Bible College to employ students who demonstrate a financial need, though the need may not necessarily be excessive.  The program criteria allows for the College to employ students whose cost of attendance is greater than the FAFSA’s declared expected family contribution.
Federal Direct Student Loan – Subsidized
Federally guaranteed loans that are based on financial need.  Interest does not accrue on the loan while the student is enrolled school at least half time, or during any future deferment periods. The federal government “subsidizes” (or pays) the interest during these times.
Federal Direct Student Loan – Unsubsidized
Federally guaranteed loans that are not based on financial need. Interest will accrue from the time the loan is disbursed to the school, but can be deferred until 6 months after graduation.  Stafford loans have a low fixed interest rate, as low as 4.50%.  Students can borrow up to $12,500 per year depending on degree status and years in school and no payments are required while enrolled in school.
PLUS Loan
Parents of dependent students can take out loans to supplement their children’s financial aid packages. The Federal PLUS Loan is a Federal student loan that allows parents to borrow money to cover any costs not already covered by the student’s financial aid package, up to the full cost of attendance.

State Grants & Loans

Alaska Performance Scholarship
The Alaska Performance Scholarship provides an opportunity for Alaska high school students to earn a scholarship to help cover the cost of an Alaska postsecondary education. Students who take a more rigorous curriculum, have a GPA of at least 2.5, and score well on college placement tests can earn an Alaska Performance Scholarship. The amount is determined by GPA and test scores and students remain eligible for up to 8 semesters, but must fully use the APS within six years of high school graduation.
Alaska Education Grant
The Alaska Education Grant (AEG) provides need-based financial assistance to eligible Alaska students attending qualifying postsecondary educational institutions in Alaska. Grant awards typically range from $500 to $4,000 per academic year for students who have qualifying unmet financial need. Criteria determining award priority includes: Financial need of the student, determined by their Estimated Family Contribution (EFC), date of filing the Free Application for Federal Student Aid (FAFSA), prior recipient of the AEG beginning 2015-2016, and School enrollment at full-time vs. half-time status.

Students with the highest financial need will be awarded in order of need until funds are
exhausted. Students enrolled in 15 credits per semester may be eligible for an increased award amount. A student may not receive more than a total of $16,000 in AEG award money over the course of their education. For more information go to
https://acpe.alaska.gov/FINANCIAL-AID/AK-Education-Grant

Alaska Advantage Loan
The Alaska Supplemental Education Loan provides funding to cover educational expenses for qualified students attending postsecondary institutions in Alaska, and qualified Alaska residents attending postsecondary institutions outside Alaska.  The Supplemental Education Loan assists in paying the remainder of a student account once federal grants and loans have been applied.    To apply, go to https://acpe.alaska.gov

Tribal Grants & Scholarships

Alaska Native Corporations
Students who are members of Alaska Native Regional Corporations may be eligible for scholarships and grants from those corporations.

 

Bureau of Indian Affairs
The Bureau of Indian Affairs (BIA) makes grants to eligible Alaska Natives and Native Americans. Information and applications are available through the BIA: https://www.bie.edu/ParentsStudents/Grants/

Veterans’ Benefits

Alaska Bible College is approved for the training of veterans. Interested veterans can check their eligibility by visiting the Veterans Affairs website here. Once eligibility is determined, Veterans can apply online, by mail, or in- person. For more information visit https://www.va.gov/education/how-to-apply/. Eligible students are encouraged to apply prior to enrollment, as funds may not be available for a number of weeks. Please contact the Financial Aid Administrator if you have any questions.

Alaska Bible College Scholarships & Discounts

Academic Excellence Scholarship
This scholarship is awarded annually to two incoming students who demonstrate a high school GPA of 3.5 or higher.  Students must apply for the scholarship through the Financial Aid office.  Amount: $500
Children of Christian Worker Scholarship
This scholarship is granted annually to two students with a minimum GPA of 2.0 whose parents are involved in full-time ministry.  Students must apply for the scholarship through the Financial Aid office.  Amount: $500
Christian Ministry Training (CMT) Matching Grant

ABC will match any gift from the student’s home church and/or the church or non-profit organization in which the student is performing their Christian Ministry Training (CMT) toward the student’s education, up to $500 per organization per semester for full-time students or $250 for part-time students towards any outstanding balance on the student’s account. It is the student’s responsibility to request their church’s participation using the Church Match Grant and/or CMT Match Grant application forms.

Church Matching Grant

ABC will match any gift from the student’s home church and/or the church or non-profit organization in which the student is performing their Christian Ministry Training (CMT) toward the student’s education, up to $500 per organization per semester for full-time students or $250 for part-time students towards any outstanding balance on the student’s account. It is the student’s responsibility to request their church’s participation using the Church Match Grant and/or CMT Match Grant application forms.

Partners in Ministry Discount
Spouses of full-time students not enrolled in a certificate or degree program may enroll in one course per semester at no charge.
Phil A. Wall Memorial Scholarship
This scholarship is awarded to a returning student who demonstrates a giving spirit, a positive and cheerful attitude, and academic excellence by inclusion on the Honor Roll or Dean’s List.  Candidates will be nominated by the Faculty and the final recipient will be selected by the Financial Aid Office’s Scholarship Committee. Amount: $500
Robert Lee Founders Scholarship

This scholarship is awarded annually to a returning student in honor of the faithful servant leadership of the founders of Alaska Bible College. Candidates will be nominated by the faculty based on a testimony of servant leadership with Christ-like character, excellence in academic stewardship, and evidence of financial need. The final recipient will be selected by the Financial Aid Office’s Scholarship Committee. Amount: $500

Scholarships & Discounts Application

To apply for scholarships and discounts, download the Scholarship & Discount Application and return it as an email attachment to financialaid@akbible.edu.

Private Scholarships & Loans

Scholarships from a foundation, church, corporation, or agency will be applied to the student’s account according to the awarding party’s written instructions. When a scholarship or grant is received in the award year before classes begin, or before the student’s admission has progressed to the setting up of his/her account, the funds will be placed in a designated financial aid holding account. When classes begin, the funds will be transferred to the appropriate student account.

The entity sending the funds may designate that the funds be split between two semesters of the award year. The funds for each semester will be transferred to the appropriate student account after the student begins classes each semester.