Southwest Baptist University

Finding the Funds to Come to SBU

 

We know college can be expensive, but when you apply to SBU, we work with you every step of the way to make attending as affordable as possible. In addition to a broad range of scholarships, we offer grants you don’t pay back and loans given at favorable interest rates that help you make a private Christian education affordable.

A Quick Overview of Three Types of Help Available

 

GRANTS
do NOT have to be repaid
Program

 How Much?

 Requirements
SBU Grant Minimum of $200 Demonstrate financial need
Federal Pell Grant $400 - $4,731 Demonstrate exceptional financial need
Federal Supplemental Education Opportunity Grant $400 - $1,000 Demonstrate exceptional financial need
Academic Competitiveness Grant Up to $750 the first year;
up to $1,300 the second year		 Demonstrate exceptional financial need and meet academic requirements
Access Missouri Grant $2,000 - $4,600 Missouri residents who have an Expected Family Contribution (EFC) of $12,000 or less
WORK-STUDY
a federal program that gives students money for working up to 10 hours a week on campus
Program

 How Much?

 Requirements
Work-Study $1,950 a year, if all hours are worked Demonstrate financial need
require repayment and offer competitive interest rates
Program How Much? Requirements
Federal Stafford Loan –    
Subsidized
federal government pays the interest while you are in school

 
Unsubsidized
you are required to pay the
interest while you are in school,
or allow it to accrue


INTEREST RATE: set each July 1.
Current Subsidized rate:  6.00%
Current Unsubsidized rate:  6.80%

Subsidized and/or Unsubsidized
A maximum of:
$3,500 for a first-year student; $4,500 for a sophomore;
$5,500 for a junior or senior

Unsubsidized
In addition to the amounts above, students also may be eligible for up to $2,000 in an Unsubsidized loan. 

Subsidized
Demonstrate financial need



Unsubsidized
Student does not need to demonstrate financial need to qualify
Federal Perkins Loan
INTEREST RATE: 5%		 Maximum of $3,000 per year Demonstrate financial need

Federal Parent
PLUS Loan

INTEREST RATE:  varies, dependent upon the lender you choose

 Any amount up to cost of attendance minus financial aid Parents of dependent college students must apply and be approved