Federal Aid Programs

Eligibility for federally-funded financial aid is established by the United States Department of Education regulations. All of Calvary's undergraduate and graduate programs are eligible for Federal Aid. The Free Application for Federal Student Aid (FAFSA) is primarily, but not exclusively, used to determine whether a student qualifies for federal financial aid and how much aid will be received

Step-by-step instructions for completing the FAFSA online may be obtained from Calvary's Admissions Office or the Financial Aid Office or by logging onto www.fafsa.ed.gov. Calvary's U.S. Department of Education Title IV Institutional Code is 002450.

Information about federal student loans can be found at www.studentloans.gov.

Plan Ahead and Graduate with Less Debt

To remain eligible to receive financial aid students must meet Calvary's Financial Aid Satisfactory Academic Progress Policy (SAP).


Federal Pell Grant

Calvary participates in the Pell Grant program, a need-based program funded by the U.S. Department of Education. In order for a student to be eligible, a FAFSA must be completed, and the resulting Expected Family Contribution (EFC), on the student's SAR must be low enough to qualify. A grant is "free" money in that a student does not pay it back to the school or the government. Pell Grants are available only to undergraduate students who have not earned a bachelors degree. For the 2015-2016 Academic year, a full-time student with a 0 EFC may be eligible to receive up to $2,886.00 each semester.

Federal Supplemental Educational Opportunity Grant (SEOG)

A SEOG is an award for undergraduate students who have the greatest need. It is to help pay educational expenses and does not have to be paid back. The award is based on demonstrated need according to the student’s FAFSA, availability of SEOG funds, and other financial aid received. The Financial Aid Office determines the award amounts. There is no separate application for the SEOG.


Calvary participates in the Stafford loan program (commonly referred to as “federal student loans) offered through the U.S. Department of Education. Stafford Loans are not free money and must be paid back along with Interest. Interest rates and repayment terms are typically more favorable than private loans. Repayment of Student Loans begins six months after graduation, withdrawing from school, or dropping below half time status (six credit hours). A student should carefully consider the financial impact that borrowing student loans may have on them, and borrow no more than is absolutely necessary to meet their educational expenses. Student Loan debt can have far reaching implications on the student's life after graduation, including hindering or keeping them from the ministry that God has called them into.

The amount that may be borrowed and the loan type(s) depend on financial need, college classification, and the student's dependency status. The Department of Education determines if a student is a dependent or independent student. Unmarried students under the age of 24 are typically considered dependent students regardless of their tax filing status, who they live with, or whether or not the student is financially supported by their parents.

The first step in seeking a loan is completing the FAFSA. The student will also need to complete a Master Promissory Note (MPN), and Entrance Counseling before the loans can be disbursed. If the student's FAFSA is selected for verification, additional paperwork will be required before the student's aid can be packaged, awarded, or disbursed. Calvary will contact the student if additional documentation is required.

The PLUS loan is a form of financial assistance for parents of dependent students. Repayment on the loans begins immediately and parents are responsible for repayment. A parent may apply for a Parent Plus loan by visiting www.studentloans.gov and signing in with the same PIN# they used to sign the student's FAFSA.

2015-2016 LOAN AMOUNTS

These amounts are provided as an approximation and estimate only
The Award Letter the student receives from Calvary's Financial Aid Office will list the offical amounts
These are the maximum amounts a student may receive, and based on a number of factors may receive less
Please contact the Financial Aid office to discuss your unique case

Grade level
Determined by # Credit Hours Completed
Dependent Student
Maximum Per Semester Amount 
Independent Student
Maximum Per Semester Amount
FRESHMAN $2,750.00 $4,750.00
SOPHOMORE $3,250.00 $5,250.00
JUNIOR/SENIOR $3,750.00 $6,250.00

Apply for Financial Aid:

Complete the FAFSA (Free Application for Student Aid).

Complete Entrance Counseling (for first time borrowers).

Complete the Master Promissory Note (for Federal Student Loans).