Types of Financial Aid

When you combine the state, federal, and institutional awards our students receive, Faith becomes the most affordable option for the vast majority of our incoming students compared to other four-year regionally accredited Christian colleges and universities.

There are three types of financial aid available to you. Make sure you understand what types are out there for you. Learn how to manage your financial aid.

Institutional Aid

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New Student Aid

Whether you’re coming straight from high school or as a transfer student from another institution, there are several scholarships that you are eligible for. The majority of our new-student aid is awarded through our fall and spring Scholarship Weekends each November & April. Find out more about how you and your parents can attend Scholarship Weekend!

Institutional Scholarships: 4 year scholarship packages so you can plan ahead.

Scholarships and Grants:

  • Faith Grant
  • President’s Program
  • Academic
  • Leadership
  • Great Scriptures Scholarships–$500
  • Christian Workers’ Grant–$1,500
  • Returning ‘Student Aid–Did you know you can earn additional awards as you progress through you time at Faith? Every year, Faith awards over $150,000 in additional aid to current students

The amount of these scholarships is based on several factors:

  • Admissions interview
  • Local Church Involvement
  • ACT Score
  • AACS Fine Arts Placement
  • EQUIP Fine Arts Placement
  • Talents For Christ Placement
  • Fine Arts Camp Placement

*Students who attend the November Scholarship weekend can expect to have their award
Letter received before Christmas, and students who attend the April weekend will have them
By the first weekend in May. This assumes all necessary paperwork has been completed by the
applicant and his/her family.

Returning Student Aid

In addition to new student aid, our current students can apply for returning student aid. Every May during our Scholarship Chapel, up to $175,000 is awarded to our students. The applications for these awards are due before Spring Break every year. Awards vary in
amount based on a student’s major, GPA, need, and even the region of the country the student is from.

For additional information regarding these scholarships opportunities please contact the Financial Aid office.

Endowment Scholarships

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Scholarship Application

Please complete the Scholarship Application form by filling in your answers. When complete, print, sign and
date the form. If you are applying for more than one scholarship category, it is your responsibility to print and submit a separate application form for each scholarship category (see Scholarship List at the end of the form for details).

Your completed application(s) must be submitted to the Financial Aid Office, by 3:00 PM on Friday, March 8! You are also required to submit two letters of reference with your application(s). The references should be from your Pastor and another mature Christian adult. Neither of these references should be a relative. Please attach these letters of reference to one of your application forms. When asking individuals to provide letters of reference, be sure to ask them to return the letters to you in sealed envelopes bearing the signature of the reference across the seal for sake of confidentiality. Those submitting letters of reference should to the best of their ability attempt to address the following areas:

  • Your commitment to full‐time Christian ministry.
  • Your compassion for other people.
  • Your dedication to local church service.
  • Your ambition and work ethic.
  • Your commitment to holy living.

To download and complete the form, see the following: Endowment Scholarship Application Form.

Federal and State Aid

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Pell Grant

Pell grants are often the first resource for college students. These grants are determined by your FAFSA. Pell Grants currently offer students more than $5,000 each year, based on student financial eligibility. Those with the greatest financial need will receive the maximum award.

State Aid

  • Iowa Tuition Grant (ITG): Up to $5,650 for the 2016-2017 school year
  • All-Iowa Opportunity Scholarship
  • Iowa Gear Up Scholarship: $2,600
  • Iowa College Aid administers need-based college financial aid for Iowans, for more information visit the Iowa College Aid website.


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Although Faith does not encourage students to take out loans, we realize sometimes that is what is needed. Faith will not certify a loan unless a FAFSA online interview has been completed. It is important to remember that FAFSA is not an application for a loan. It is also important to research loans very carefully. You should look for banks and lenders who offer good interest rates.


Stafford Loans

Federal Subsidized and Unsubsidized loans are available. Students must complete FAFSA to be eligible for a loan.

Private Loans

Faith Baptist Bible College does not provide a preferred lender or an historical lender list. We encourage students to take advantage of all sources of federal, state, and institutional aid, before turning to private student loans. A private student loan may also be referred to as an alternative student loan.

In the event that additional aid is needed beyond what federal, state, or institutional aid can provide, alternative student loans are available to students. Choosing a lender is an important financial decision. We encourage students to extensively research their private loan lending options to identify the lender whose terms and conditions best meet their needs.

Faith does not endorse any specific lender. Students complete an application directly with the lender of their choice, the application may be subject to a credit approval. If you choose to take out an alternative student loan please notify the financial aid office.

Contact Financial Aid at 515.964.0601, ext. 206 for more detailed information about scholarships and financial aid.