Financial Aid
Reach your educational goals with financial aid.
What is Financial Aid?
Financial aid is any form of assistance that comes from some organized body that assists a student with the costs of attending college. These forms consist of federal, state, institutional and private funds that are used to assist students in funding their education. Scholarships and grants are “free money” that you do not pay back, however loans are considered as self-help and you are required to pay them back when a student becomes enrolled less than half-time or graduates. When you seek aid, we will consider you for all forms of aid available.
How to Apply for financial aid, scholarships, and veterans and military service members benefits
Here at the College of Biblical Studies part of our mission to our students is we see every student as an individual with dreams, goals and needs that are unique and special to them. We are here to help our students to make their dreams a reality and help prepare them to answer God’s call to serve. It’s all about real people with real dreams! We are here for you!!!
Financial Aid Information
Federal Financial Aid
• Federal Loans: Student loans offered through government funding through the Department of Education. Federal student loans typically offer low interest rates and generous repayment terms.
• Federal Grants: Federal grants offered through government funding through the Department of Education includes Federal Pell Grant and Federal Supplemental Education Opportunity Grant (FSEOG).
• State Financial Aid (Indiana Residents Only)
The Frank O’Bannon Grant, which includes the Higher Education Award and the Freedom of Choice Award, is Indiana’s primary need-based financial aid program. It is designed to provide access for Hoosier students to attend eligible public, private and proprietary colleges and universities. Eligibility is based on a student’s FAFSA, and the grant may be used toward tuition and regularly assessed fees.
Institutional Aid/Scholarship
• Institutional aid scholarships are awarded based on enrollment hours and on the level of enrollment, financial need, and by the order in which they are received.
• Students must submit a completed application by the published deadlines to the Office of Financial Aid and meet the eligibility requirements for each scholarship. Incomplete applications will not be considered. All scholarships are awarded based on financial need and in the order in which they are received. All scholarships require a recommendation letter from your pastor or church leader. See the individual scholarships for application and eligibility requirements.
The following are the steps to apply for CBS scholarships:
1. Complete the Free Application for Federal Student Aid (FAFSA).
* Any student who is receiving an institutional scholarship must fill out a FAFSA. Scholarships are non-refundable. The scholarship will be applied after all other financial aid (Pell and SEOG). This may result in your institutional scholarship being reduced. Scholarship funds will be applied towards the cost of tuition and fees. When completing your financial aid portal, you will need to accept or deny federal loans.
2. Submit a completed scholarship application here. The application for the 2024-2025 award year is currently open. The application is closed for the 2023-2024 award year.
*Scholarship applications require a letter of recommendation.
Non-CBS Scholarships
Students can apply for the following scholarships:
Net Price Calculator
Click here to access the calculator which is intended to provide estimated net price information.
Return of Institutional Aid and Scholarships:
Institutional aid (i.e. Mays scholarships) are awarded based on financial need. If any student withdraws from the College or reduces the number of hours during the course of the term, his/her awards will be adjusted accordingly, and as a result, he/she may owe the institution. CBS does not refund institutional aid or May scholarships to students.
For more information, contact the Office of Financial Services as follows:
Houston: 832-252-0710 | Email: fa@cbshouston.edu
Indiana: 317-789-8255 | Email: fa@cbshouston.edu
References and federal updates
Financial Services Handbook
References of FAFSA
Having trouble completing the FAFSA? Please watch the video below:
How to Fill Out the Free Application for Federal Student Aid (FAFSA®) Form – YouTube
- Special Circumstances include changes in financial situations. Examples include (but are not limited to) loss or reduction in employment; student/parent becomes divorced, separated, or widowed; or one time increase in income due to IRA distribution, pension withdrawal, or something similar.
- Unusual Circumstances include student situations that justify a financial aid administrator making an adjustment to the student’s dependency status such as (but not limited to) parental abuse or abandonment, being an unaccompanied homeless youth, being a victim of human trafficking.
