Arkansas Baptist College wants to make it as simple as possible for students to improve their lives through a quality education. For example, the university employees in our Office of Student Financial Aid & Scholarships are dedicated to offering guidance and financial aid tips for college students who need help paying for classes. If you are not sure how to apply for financial aid, our knowledgeable staff can help you review the following checklist and answer any questions you may have. Whether you are a first-time degree seeker or a working parent who is returning to school, you can discover options that will allow you to pursue a promising degree at Arkansas Baptist College.
The FAFSA, or Free Application for Federal Student Aid, is the gateway to the getting financial assistance for college students. Filling out this form starts you on the path towards a variety of federally backed grants, loans, and work-study programs. Additionally, if you complete the form, you will be automatically become eligible for low-interest student loans of at least $5,500 per year. The FAFSA collects information on your finances—or your parents’ finances if you are a dependent—and helps the government determine the level of aid for which you are qualified. Most colleges, including Arkansas Baptist College, also use this form to decide how scholarships are distributed. To complete the FAFSA, you should:
Direct student loans are low-interest loans provided by the U.S. Department of Education (DOE), as opposed to a bank or other financial institution. There are two types of direct loans:
For direct student loans, you will need your FSA ID to begin the application process and enroll in loan counseling courses. To complete the direct student loan application, you should:
The Parent PLUS loan program is a direct loan for parents. Parents of Arkansas Baptist College students can borrow directly from the DOE. The money will match the cost of attending college minus any other aid, such as direct loans or scholarships. The interest rate for these loans is market-based, so it will likely rise and fall during the life of the loan. However, there is a 10.5% rate cap, and some borrowers may deduct the interest paid on their tax return. To complete the Parent PLUS application, parents should:
If you want to learn how to apply for financial aid at Arkansas Baptist College, contact a member of our staff today at (877)-643-5390 for tips and guidance.
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