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What is a student loan?

A student loan is an award of financial aid for which the lender will have to be paid back. Some loans are subsidized, which means the federal government pays the interest that accrues on the loan from the date of disbursement until the loan enters repayment status. Other loans are unsubsidized, which means you will be responsible to pay all interest that accrues on the loan from the date of disbursement until it is paid in full. You can choose to pay the interest while you are in school or defer it until after you graduate.

For help with financial aid terms and definitions, click here.

You may need to carefully consider taking out a loan to help pay the costs of your education.

View the BBC Lending Code of Conduct here.




All new students will need to follow these steps to obtain a Federal Direct Stafford Loan:

*When logging into this website, the FAFSA PIN will be needed.

New students should complete the Entrance Counseling and Master Promissory Note by August 1 of each academic year - prior to coming to BBC for the fall semester.

What are the 2015-2016 interest and fees?
Federal Direct Stafford Subsidized Loans have an interest rate of 4.66% and a fee of 1.073%.
Federal Direct Stafford Unsubsidized loans have an interest rate of 4.66% and a fee of 1.073%.
Federal Direct PLUS Loans have an interest rate of 7.21% and a fee of 4.292%.

The following information will be helpful to you as you consider student loans.

Loans Eligibility Annual Amount Applications Application Deadline
Federal Direct Stafford Loan
- Need Freshman: $3,500
Sophomore: $4,500
Junior/Senior: $5,500
- Loan Request Form
June 30, 2016
Federal Direct Stafford Loan
- Dependent Students $2,000 each year - FAFSA**
- Loan Request Form
June 30, 2016
Federal Direct Unsubsidized Stafford Loan for Undergraduates
- Independent Students Freshman/Sophomore: $4,000
Junior/Senior: $5,000
- Loan Request Form
June 30, 2016
Federal Direct
(Parent Loan for Undergraduate)
- Approved Credit History
- Dependent & Undergraduate Student
Up to Full Remaining Cost of Academic Year - FAFSA**
-Loan Request Form
June 30, 2016
Private Alternative Loan - Cosigner may be required
- Approved Credit History
Up to Full Cost of Academic Year See Alternative Loans section below Varies

**Free Application for Federal Student Aid (FAFSA)


The amount of Stafford loan money that a student may receive in a year depends on what year of school they are in.

The base amount for which you are eligible in a given academic year may include either, or both, subsidized and unsubsidized amounts depending on your calculated need. For instance, if you are eligible (based on the FAFSA's Expected Family Contribution [EFC] calculation) for a $4,500 Federal Direct Stafford Subsidized loan during your sophomore year, you may also take a $2,000 unsubsidized Federal Direct Stafford loan during the same year for a total of $6,500 to bring you to the maximum base amount. In addition to the base amount, independent undergraduates may request an additional $4000 unsubsidized Federal Direct Stafford loan, as shown above.
Federal Direct Stafford Loans are subject to a 1.073% origination fee. The amount of money actually received by BBC and disbursed to your account will be 1.073% less than the amount borrowed. For example, if you borrow the amount of $3,500, the actual amount disbursed to your account would be $3,462.00.

*Undergraduate dependent students whose parents have been denied a Federal PLUS Loan are also eligible for the additional unsubsidized loan amounts.

Click here to download the Federal Direct Stafford Loan Request Form (2015-2016).


Parents may apply for the Federal Direct PLUS Loan during the years that their student is eligible for federal aid. The Federal Direct PLUS Loans are subject to a 4.292% origination. Therefore, the amount of a Federal Direct PLUS Loan that is actually disbursed onto a student’s account will be 4.292% less than what was originally requested.

For example: If you choose to borrow $5,000 the actual amount disbursed to your account would be $4,785.00.

Parents applying for the Federal PLUS Loan will need to submit the PLUS Loan Request Form to the office of Student Financial Services.


Alternative Loans

Alternative loans are private loans (not part of the federal government programs) that are obtained through a lending institution. Though BBC makes every effort to ensure lenders on our list provide the least expensive loans and best service possible, students and parents have the right and ability to select the lender of their choice, regardless of our suggested lender list.

Read more about the selection process here.

You may apply for an alternative loan by clicking on one of the following lenders.

To compare the loans, click here.

The Pennsylvania Student Loan Marketplace also offers alternative loans to students and their families in an effort to make them as affordable as possible. It is not only the place that you can see a side by side comparison of what your loan terms would actually be, but should be a helpful tool in making an informed decision as to the kind of loan and what lender would best suit your situation. Students are not required to use the Pennsylvania Student Loan Marketplace – you can choose any lender that you prefer.

To learn about and compare your loan options in the marketplace, click here.

To view the disclosure statement of the Pennsylvania Student Loan Marketplace, click here.

Baptist Bible College follows the Standard Academic Year definition of borrowing. Your maximum loan eligibility covers the entire year: fall, spring, and summer. If you need loan funds for each semester, plan and borrow wisely so that you do not exhaust your eligibility before the end of the academic year. For example: If you use your entire loan eligibility in the fall and spring semesters, you will not have any loan funds available for the summer.

Exit Counseling

For students who graduate from Baptist Bible College and do not plan on graduate studies or seminary, the Department of Education requres each student to complete their Exit Counseling at

Other sources of Financial aid

Use this list as a starting point, but do not limit yourself to just these websites.  Do some research.  You will find much is available for you.

For further assistance: Call 570.585.9215 or 800.451.7664, option 5 or e-mail Financial Aid at