Financial Aid

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.

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.

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.

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.

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.

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.

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.

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

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

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

• Ahtna Heritage Foundation
• Aleut Foundation
• Aqqaluk Trust (NANA)
• Arctic Education Foundation
• Bering Straits Native Corporation
• Bristol Bay Native Corporation
• Calista
• Chugach Heritage Foundation
• CIRI Foundation
• Doyon Foundation
• Kawerak
• Koniag Education Foundation
• Kuskokwim Foundation
• Sealaska

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/

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

This scholarship is awarded annually to two full-time students with a minimum GPA of 2.0 who were referred to ABC by a previous graduate of the college.  The referring alumnus must fill out an Alumni Referral Form through the Financial Aid office.  Amount: $500

Students who visit the ABC campus prior to enrolling as a full-time program student may receive a discount up to $500, based on their transportation costs for the campus visit.

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

ABC will match a church gift toward a student’s education, up to $500 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 Matching Discount application form.

Spouses of full-time students not enrolled in a certificate or degree program may enroll in one course per semester at no charge.

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

This scholarship is for students intending to minister to Native Americans and other residents of the North. Student must be enrolled in a BA program and have a 3.0 GPA to apply for scholarship.  Students must apply for the scholarship through the Financial Aid Office.  Amount: $500

Upon the completion of the 1st semester as a full-time student, a new student who was
referred by an ABC student will receive a one-time $250 billable tuition, room and board
discount for their next semester at ABC. This is a non-transferable discount. Discounts
are based upon student financial need.

The student giving the referral to a new student will also receive a $250 tuition-only
discount for their next semester at ABC upon the completion of that referred students 1st
semester as a first-time, full-time student. This is a non-transferable discount. Current students can refer
any number students up to 1⁄2 of the cost of a semester’s billable tuition, room and board,
but any referrals above and beyond 1⁄2 tuition will not be compensated. Discounts are
based upon student financial need.

This scholarship is awarded annually to two incoming students who demonstrate full-time ministry involvement for a minimum of 7 weeks during the summer prior to enrolling at ABC.  Students must apply for the scholarship through the Financial Aid office.  Amount: $500