How do I get started in applying for financial aid?

1. First, complete the admission application to Buena Vista University Graduate & Professional Studies.

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2. Next, complete the Free Application for Federal Student Aid (FAFSA). You can complete the application online at fafsa.ed.gov, or you can request a paper copy of the application from your campus office. Note: BVU’s federal school code is 001847.

3. Once you have completed those applications, contact your financial aid advisor at your Graduate & Professional Studies site to verify your enrollment plans.

4. Finally, review your award letter and decide if you want to pursue loan options. If so, your advisor in your site office can help.

How do I know if I’m eligible for financial aid?

There are different requirements to be eligible for federally-funded and state-funded programs, and some vary based on the type of assistance given.

For federally-funded programs, you qualify if you can:

  • Demonstrate financial need
  • Have a high school diploma, a G.E.D., or demonstrate an ability to benefit from the program
  • Be enrolled at least half-time and as a regular student (unless otherwise noted in the program description)
  • Be a U.S. citizen or eligible non-citizen
  • Make satisfactory academic progress
  • Sign various educational statements
  • Be current on all previously-borrowed educational loans
  • Release FAFSA data to BVU while still enrolled

For state-funded programs, you qualify if you can:

  • Demonstrate financial need
  • Meet Iowa residency standards and be a U.S. citizen or eligible non-citizen
  • Make satisfactory academic progress
  • Apply by the deadline
  • Be current on all previously-borrowed educational loans

What types of financial aid are available?

Grants are funds that do not have to be repaid. They are usually awarded on the basis of financial need. These include:

  • Federal Pell Grants – available to eligible students for undergraduate study.
  • Federal Supplemental Education Opportunity Grants (FSEOG) – for students who show exceptional financial need and who are eligible for a Federal Pell Grant.
  • Iowa Tuition Grants – available to eligible residents of Iowa based on financial need for up to the equivalent of eight full-time semesters of undergraduate study.
  • Iowa National Guard Educational Assistance Grants – available to Iowa residents who are members of an Iowa Army or Air National Guard unit while enrolled in higher education.
  • Federal TEACH Grants – available to students who intend to teach and are willing to serve as a full-time teacher in a high-need field, in a school serving low-income students for at least four years within eight years of graduation.

Loans allow you to defer part of the cost of your education by borrowing now and repaying later at a reduced rate of interest. Loans must be paid back and are usually not due until you have completed your education or fall below half-time enrollment. Types of loans available include:

  • Federal Direct Loans – available to students who complete the Free Application for Federal Student Aid (FAFSA) and enroll at least half-time in college.
  • Federal Parent Loans (PLUS) – available to parents who have a dependent child in college; parent must be a U.S. citizen or eligible non-citizen.
  • Alternative Loans – available to students or parents of students and interest rates may vary.

Also, all Buena Vista University programs are approved for the G.I. Bill and Yellow Ribbon Program.

We recommend that you discuss your financial aid options with your site advisor to make sure you get the assistance that is right for you. 

Do I have to reapply for financial aid?

You must reapply for financial aid each year you expect to attend Buena Vista University. Financial aid is not automatically renewable and may fluctuate from one year to the next.

Talk with your site advisor to ensure you stay ahead of any application deadlines.

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