wbc/cbs financial aid process
The financial aid process at WBC/CBS is outlined below. We encourage all students to start the financial aid process as early as possible prior to registration. It can take 3-6 weeks from the time all required applications and documentation are submitted for a student’s financial aid to be packaged and set up for disbursement. To help you through the process, step-by-step instructions are provided below.
I. Fin Aid Process
STEP 1: COMPLETE A FAFSA ONLINE
Federal Student Aid is an office of the U.S. Department of Education that manages and regulates Title IV funds of the Higher Education Act (HEA) of 1965. To be considered for various federal, state, and institutional aid, students need to complete a FAFSA (Free Application for Federal Student Aid) online at www.FAFSA.ed.gov. Maryland state residents should complete their FAFSA by March 1st, to be eligible for Maryland state grants & scholarships.
2. Click on “Start Here”
3. Enter your personal information.
4. Click on “2012-2013” tab for the 2012-2013 academic year (Summer 2012, Fall 2012 & Spring 2013)
5. Click on “Start New FAFSA” or "FAFSA Renewal"
6. Enter the information requested using your 2011 Federal Taxes.
NOTE: When asked for the school code, type in "001462" for WBC/CBS.
7. E-Sign your FAFSA using your FAFSA PIN Number.
Once you have completed your FAFSA, a summary/confirmation report will be generated. Please look for your Expected Family Contribution (EFC) and make note of it for step 2 below.
STEP 2: LOGIN TO OUR VIRTUAL FINANCIAL AID OFFICE (VFAO)
WBC/CBS has partnered with an online company to automate the processing of federal financial aid applications using an online Virtual Financial Aid Office (VFAO). After you have completed a FAFSA form, you must complete a VFAO Student Interview.
>If you need financial aid for the Summer 2012, Fall 2012 and/or Spring 2013 semesters, complete the 2012-2013 VFAO Student Interview (available beginning mid-May).
>If you need financial aid for the Spring 2012 semester, follow the instructions below to complete the 2011-2012 VFAO Student Interview.
1. Go to https://Bible.VFAO.com2. Click on “Student Interview Center”
3. Log in with your username and password or "Register as a new user".
NOTE: You cannot have more than one registration.
If you cannot remember your registration, click on the "Recover Login Information" link.
4. Click on “Student Interview” and fill in all required information.
5. When finished, make sure to click “DONE”, otherwise your interview is not complete.
Once you have completed your VFAO Student Interview, an estimated Financial Aid Award is generated. These estimates are quotes for an independent student. A more accurate Financial Aid Summary will be emailed to you after your information has been assessed and packaged (2-4 weeks).
STEP 3: COMPLETE A MASTER PROMISSORY NOTE (MPN)
The information you have provided on the FAFSA and the Virtual Financial Aid Office will determine if you are eligible to borrow a Federal Direct Stafford Loans. If eligible, you can request Stafford Loans to cover your cost of attendance.
2. Click on “Sign In” and complete the required fields
3. Select "Complete Master Promissory Note".
4. Select loan type “Subsidized/Unsubsidized Loan” and fill in all required information.
5. When finished, make sure to E-Sign your MPN using your FAFSA PIN Number.
Once you complete a MPN for WBC/CBS, it is valid for up to 10 years to request additional loan disbursements so long as a loan was disbursed at WBC/CBS within the last year.
NOTE: The priority processing date for loans are July 1st (Fall) and December 1st (Spring), but can be processed and disbursed up until the last week of classes. For terms and conditions, please visit http://studentaid.ed.gov or visit our Loan Options information page.
A Federal Parent PLUS Loan is available for parents to borrow for their undergraduate student. A Federal Graduate PLUS Loan is available for grad students to borrow. Both are a type of PLUS Loan and require a light credit check. To apply, complete the PLUS Loan Application and the PLUS Loan MPN. For more information, please review our Plus Loan Instructions.
STEP 4: APPLY FOR SCHOLARSHIPS & TUITION DISCOUNTS
WBC/CBS offers various scholarships and tuition discounts to our students. The top three most utilized are Project Bridges, Ministry Support Grant and the Promise Fund. Deadlines and eligibility requirements will vary. For more details visit our Institutional Aid webpage.
II. Other Considerations
a. Chosen for Verification:
Additional documentation may be requested to verify the information you have provided on your FAFSA. If you receive an email requesting additional verification documents, go to https://Bible.VFAO.com, click on “Forms & Documents” and download the appropriate form(s). Then submit all completed forms & documents to the Financial Aid Office. Your Financial Aid process will not be completed until your verification is complete.
b. Requesting Additional Funds:
If a student’s financial aid has been processed and disbursed for the semester but he/she would like to request additional funds, then the student can do so by completing the "Additional Funds" form at our Virtual Financial Aid Office.
1. Go to https://Bible.VFAO.com.
2. Click on “Forms & Documents”
3. Click on "Additional Funds”.
Note: A student is only eligible for additional funds if he/she…
a. has not requested and received the maximum amount of their loan eligibility, or
b. has advanced in grade level in the middle of the academic year
A student should also complete the “Additional Funds” form if he/she did not originally request loans in their VFAO Student Interview but want/need loans to cover their educational expenses. The student must complete Step 3 and the “Additional Funds” form in order for our office to process and disburse the loans.
c. Requesting a Book Voucher:
As a service to our students, WBC/CBS offers a book voucher for use at MBSDirect.net to those with excess of financial aid to cover the balance on their student accounts and the amount of the book voucher (up to $400). To request a book voucher, please email the Financial Aid Office at least three weeks prior to the start of the semester and/or the date of your financial aid disbursement. It typically takes 2-5 business days for a book voucher to be issued. Note: A book voucher will not be issued until all required financial aid applications and documents have been submitted.
Students with excess of financial aid can also purchase their books out-of-pocket from a vendor of their choice and wait for their refund check to reimburse them at a later time. Ultimately, it is the student's responsibility to acquire the books & materials needed in a timely manner to ensure their academic success.
d. Summer Fin Aid:
Financial aid is available for the summer if the student is registered for at least half-time in the fall and summer semester. To request financial aid for summer, you must complete the normal 2012-2013 financial aid process.
Step 1: 2012-2013 FAFSA
Step 2: 2012-2013 VFAO Student Interview (will be available by the end of May)
Step 3: 2012-2013 MPN (not required if you have borrowed a stafford loan within the past year).
Once the 2012-2013 VFAO form is completed and the student has submitted all requested documentation, please allow approx. 3-6 weeks to review, package, and disburse financial aid. In the mean time, our office will note the student's account with "estimated/pending" financial aid and the student with pending financial aid will be allowed to attend summer classes. Note: Financial aid is not finalized/approved until after we have packaged you. Any remaining balance that is not covered by financial aid is the student's responsibility.
If for some reason you can not be at least half-time in the summer, but you will be at least half-time in the fall, please contact the Financial Aid Office to discuss other options.