Tuition and Fees
Payments and Outstanding Accounts
Tuition may be paid in four or five equal monthly payments. All other fees must be paid in full at the start of the semester or as otherwise incurred. Arrangements must be made at the beginning of each semester. Balances must be paid in full at the end of each semester. The college accepts payments by VISA and MasterCard. Unpaid account balances will hinder a student from continuing his studies. Please contact the Financial Aid Office if you need assistance in this area. Furthermore, transcripts will not be issued for students who are not making satisfactory and faithful progress in paying any outstanding account balance.
While the Association for Biblical Higher Education (ABHE) is approved by the US Department of Education to accredit graduate degree programs, the approval does not yet extend into the area of student funding. This means that seminary students are not eligible for government loans at this time. Family of Faith College is working to find additional ways to enable students to secure government student aid and other funding. Some students use their employer’s Tuition Reimbursement program. The Financial Aid office is happy to help you in any way possible and will provide updates regarding progress in this area. Please call the Financial Aid office if you have any questions.
The traditional process for applying for financial aid begins with the Free Application for Federal Student Aid (FAFSA) on which the student must include the Family of Faith College federal school code (036763). This number ensures that our VFAO receives the Institutional Student Information Record (ISIR) so that potential sources for financial assistance can be identified. Students should then utilize the Virtual Financial Aid Office (VFAO) to complete the financial aid process. Students and prospective students are encouraged to complete their tax forms and FAFSA early in the calendar year because some monies are only awarded early in the calendar year. Additional documentation is usually required to process a student’s financial aid package, be sure that you have your income tax records, W2’s, and Social Security documents. To receive and retain financial aid, students must meet all federal standards
regarding documentation and Satisfactory Academic Progress. Details of these standards will be provided to all students receiving financial aid.
Employer Tuition Reimbursement
The student must provide two things to the Financial Aid Office: (a) a copy of the employer’s Tuition Reimbursement Plan/Policy, and (b) a letter from the employer stating when and how the tuition reimbursement payments will be made. If the employer’s plan calls for payment at the end of each course or at the end of the semester, the plan must be approved by the Vice-President of Finance and Operations. The College will provide the cost of tuition along with a notification of the student’s successful completion of modular courses or a semester according to the employer’s requirements for reimbursement. If the tuition reimbursement plan covers less than 100% of the tuition, the student will be required to pay at the beginning of each semester the portion of tuition not covered by the employer tuition reimbursement. The student will be responsible for the payment of any portion of the tuition in the event the employer does not pay the agreed upon tuition reimbursement.
Refund Policy for Online Courses
The most significant date for online courses is the Class Start/ First Login Day.
- If a student withdraws in writing before the first login day of online classes, the student is allowed a 100% refund of tuition.
- If a student withdraws in writing during the first week of online classes, the student will be entitled to a 90% refund of tuition.
- If a student withdraws in writing during the second week of online classes, the student is allowed a 40% refund of tuition.
- After the second week of online classes, no tuition refund will be given.
- Fees are NOT refundable.
Repayment of Federal Aid
If the tuition and fees were paid with financial aid monies, all or a portion of the student’s refund must be returned to the student aid programs from which the money was awarded. A student who receives a cash disbursement to assist with living expenses and then withdraws, drops out, or is expelled, may be required to repay money to the aid programs from which the money was awarded.