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 for free!

  • Scholarships include the President’s Scholarship (up to $12,000 annually), the Program Scholarship (up to $10,000 annually),  and the Academic Scholarship (up to $5,000 annually).
  • First From Church or School Scholarship: Students’ first year at Faith (including room, board, tuition, and fees) is $10,000.
  • Christian Workers Grant: Students who are the dependent child of full-time Christian school personnel, a pastor or missionary may be eligible to receive up to $1,500 for the year.
  • Great Scripture Memory Scholarship: Students have the opportunity to memorize and recite a designated passage of Scripture to the Student Life department each semester for a Scholarship award of $500. This can be completed both semesters for a total of $1,000.

Award amounts are determined by the following factors:

  • ACT Score
  • High School/College GPA
  • Current Church Involvement
  • Pastor/Christian Leader Recommendation
  • Leadership Potential
  • Interview with Faith Faculty/Staff at Scholarship Weekend

*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.

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

Private loans require credit approval and may require a co-signer. While Faith does not provide a preferred lender list, we can make available upon request a historical lender list from which families can research additional loan options.

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