FAQ

FAQIMG_9751

How do I apply for financial aid?

Start the financial aid process by filing the Free Application for Federal Student Aid (FAFSA). You will also need to complete your application for admission to MBU.

What is the FAFSA?

The FAFSA, or Free Application for Federal Student Aid, is the form the federal government uses to determine your eligibility for financial assistance. Types of aid determined by the FAFSA include grants, work study, scholarships and loans.

Who needs to complete the FAFSA?

All incoming college students should submit the FAFSA. At MBU, we request that you file a FAFSA so that we know you want (or need) financial assistance (scholarships, grants, loans, etc.). It is the initial application for institutional aid, state and federal grants and federal work study, and is the prerequisite for federal student loans.

How do I file the FAFSA?

The easiest and fastest way to do this is by going online to www.fafsa.ed.gov. You will also need to go to www.pin.ed.gov and apply for a PIN in order to sign the form electronically. If you are a dependent student, your parent will need to complete an application for a PIN as well.

What is Missouri Baptist University’s school code?

Missouri Baptist University’s FAFSA code is 007540.

When do I file the FAFSA?

The FAFSA becomes available every year on January 1. The priority deadline, or the date that the FAFSA must be completed to be considered for all Missouri state grants, is April 1.

How do I apply for a Student Loan?

Federal student loans are applied for through the FAFSA. Once your eligibility is confirmed, you must complete two additional documents on www.studentloans.gov:

  • Stafford Loan Entrance Counseling
  • Stafford Loan Master Promissory Note

Alternative loan options, sometimes referred to as private loans, can supplement the other forms of aid a student generally receives. While we cannot suggest a specific lender to a student, we do maintain a historical list of loan companies that our students have used in recent years. Our lender list can be accessed through the following link: MBU Alternative Lenders

What is the difference between the Subsidized and Unsubsidized Stafford Loan?

The Subsidized Stafford Loan is interest-free to the student at the following times:

  • While he or she is in school (at least half-time)
  • During the period the loan is in grace
  • During periods of deferment

The Unsubsidized Stafford Loan starts to accrue interest after the first disbursement is made and continues to accrue interest during the life of the loan.

Do I have to pay the interest on the Unsubsidized Stafford Loan while in school?

You have the option to pay the loan while in school, but are not required to make any interest payments. Any unpaid interest will be capitalized, or added to the principal loan balance, when repayment starts.