Southeastern Baptist College is committed to the principle that no student should be denied a Christian education because of financial limitations. Therefore, the college makes every reasonable effort to assist students in obtaining any assistance for which they qualify.
All financial assistance offered by SBC is administered in conjunction with a nationally established philosophy of distributing financial aid. The basis of this philosophy is the belief that the student and his or her parents have the primary responsibility for paying the cost of education and that financial aid from the college is available only for meeting the difference between the cost of education and the amount the students and parents can reasonably be expected to contribute. The financial aid package offered depends upon the student’s academic record and need for assistance.
The Pell Grant is the foundation source for all other aid programs. All applicants for any campus-based assistance must complete an Application for Federal Student Aid. This application should be presented to the financial aid office for processing through the computer system provided by the U. S. Department of Education. The application should be submitted to the financial office as soon as possible but at least two weeks prior to registration. No other financial assistance can be awarded until the student’s eligibility for the Pell Grant is determined.
The student’s financial aid package:
- may not exceed the actual cost of tuition, fees, dorm room, or other educational expenses incurred by the student
- may not consist of benefits concurrently from more than one campus-based financial aid program
- is awarded to a student who is enrolled at least half-time. Students attending less than half-time may be eligible for Pell Grant or a tuition discount depending on enrollment status.
Students receiving financial aid from sources other than Southeastern Baptist College must advise the financial aid office of the amount and source(s) of such aid. Each student receiving financial aid must remain free from any academic and/or disciplinary probation in order to continue in the program.
Verification Policy
To receive the Pell Grant benefit, all information must be verified as required by law; therefore, the financial aid office will verify the information required by law on all financial aid applications that have been selected by the federal processor. In addition to these selected, any other application that appears to have conflicting information may be selected by the college financial aid office to be subjected to the verification process.
- Supplying Verification Information
Each student whose application has been selected for verification will be required to complete a U. S. Department of Education Verification Worksheet and provide supporting documentation.
- Processing and Payment of Aid
Disbursements of Federal Pell Grant monies will not be made until all admission and financial aid requirements are met. If the student does not provide the information before the stated deadline, full payment for the semester will automatically be required. Changes made to any award as a result of additional information received after the verification process is complete will be adjusted on subsequent semester payments. The student will be notified of any such changes by the financial aid office either in person or by telephone. Should information need to be corrected, the student will be required to submit appropriate documentation to complete the verification process.
- Notification of Verification
Students who are selected for verification will be notified in person, by phone, or in writing by the financial aid office, and information needed to complete the verification process will be requested. Information concerning the following items will be needed:
- Household size
- Number family members in college
- Parent and/or student adjusted gross income
- Parent and/or student U.S. income tax paid
- Untaxed income and benefits – may include:
Untaxed income and benefits
- Tax-exempt interest income
- IRA/KEOGH payments
- Earned Income Credit
- Social Security
- Child support
- Due to the fact that Southeastern has many students who are in church-related fields of service, the number of untaxed benefits provided in church-related work is also verified. Such items would include:
Church-Related Benefits
- Housing allowance funds
- The rental value of housing provided
- Utilities provided
- Any insurance paid by the church
- Retirement funds
- Any other benefits provided
The student is responsible to supply truthful and accurate information requested by the financial aid office before the stated deadline in order to complete the verification process. Should the information needed for verification not be submitted by the student, no Federal Pell Grant will be awarded, and the student will be responsible for immediate payment for the semester.