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Federal Financial Aid

The Baptist School of Health Professions offers Title IV (i.e., federal financial aid) programs to help you cover the cost of your program. Current financial aid offerings consist of:

Federal Pell Grant – This grant program is based on need and does not require repayment. The amount you receive is based on your EFC which is the Estimated Family Contribution figure determined by the information you provide on the FAFSA.

Federal Direct Subsidized Loan - This type of loan is based on need as determined by your cost of attendance and your EFC. This type of loan is interest free while you are enrolled at least half-time and repayment does not begin until six months after your graduate or leave school for more than six (6) months. The current interest rate is 4.45% (for loans first disbursed on or after July 1, 2017 thru June 30, 2018) and repayment will vary based on your total federal student loan borrowing but not to exceed 10 years. NOTE: Be advised new regulations limit the length of time a student can qualify for a Federal SUBSIDIZED loan. A student who borrows their first federal student loan after 7/1/13 or a student who paid off their federal student loans (not including Federal Perkins Loans) prior to 7/1/13 can lose their subsidized loan eligibility IF they attend school more than 150% of the required time for the program they originally borrow their post-July 1, 2013 federal student loan(s). For example, if you attend XYZ College and your enroll for a four year degree program, you have a maximum of six years (4 x 150%= 6) to receive subsidized loan eligibility and that limit follows you even if you transfer to another school. Conversely, if you enroll for a program that is one year in length, you only have one and a half years (1 x 150% = 1.5) to receive subsidized loan eligibility and that limit follows you until you complete your educational endeavors. If you remain enrolled in school beyond your initial limit, you will lose eligibility for the subsidized loan as well as the interest-free subsidy on all of your loans. In these situations, the Department of Education will notify you that this has occurred.

Federal Direct Unsubsidized Loan - This loan does accrue interest while you are in school and requires half-time enrollment to qualify. It is not need-based and the interest is 4.45% (for loans first disbursed on or after July 1, 2017 thru June 30, 2018). Repayment begins six months after you graduate or leave school for more than six (6) months. Repayment will vary based on your total borrowing with up to a maximum of ten (10) years to repay.

NOTE: The Department of Education has aggregate borrowing limits on federal student loans (i.e., $57,500 as an independent undergraduate and $31,000 as a dependent undergraduate student) which may reduce your ability to participate in the federal student loan program as a Baptist School of Health Professions student. Please visit to review your TOTAL federal student loan borrowing.

Federal Direct Parent Loan (PLUS Loan) - This loan is available to parents of dependent students (as determined on the FAFSA) who want to help supplement the cost of attendance in addition to the Federal Pell Grant (if eligible) and the Federal Direct subsidized and unsubsidized loans. The interest rate is fixed at 7.00% (for loans first disbursed on or after July 1, 2017 thru June 30, 2018). However, in certain instances if the credit review reveals that the Parent has adverse credit, the Parent may have to provide additional documentation for extenuating circumstances or they may obtain an endorser. NOTE: Beginning March 29, 2015 the Department of Education will also require the Parent to complete PLUS loan counseling prior to disbursing this loan if the Parent Loan is approved in these adverse credit situations . A PLUS application form must be requested from and submitted to the Financial Aid Department.

Federal financial aid is only available for the following programs of study:

  • Associate of Applied Science in Diagnostic Medical Sonography
  • Associate of Applied Science in Nursing
  • Bachelor of Science in Healthcare Management
  • Bachelor of Science in Nursing (RN to BSN)
  • Computed Tomography (CT)
  • Master of Science in Nursing (MSN)
  • Medical Resonance Imaging (MRI)
  • Radiologic Technology - AAS
  • Surgical Technology - AAD-AAS
  • Surgical Technology - AAS
  • Vocational Nursing

Federal Student Aid: U.S. Department of Education
At this website investigate the types of financial aid available, learn how to apply for federal aid using the federal student aid (FAFSA) application, and choose a method of loan repayment.

FinAid! The Smart Student Guide to Financial Aid
A variety of loan calculators are available at this website to help generate your repayment options.

How to Repay Your Loans: Federal Student Aid
Understand the loan repayment plans and process, learn about loan forgiveness and cancelation, and investigate what to do if you have trouble affording your payments.
View your aggregate student loans and use the repayment estimator to assist in planning.