Frequently Asked Questions about Financial Aid
We've compiled a list of questions we're frequently asked about grants, loans and scholarships. Don't see your question below? Give us a call; we're happy to help you navigate the financial aid process.
- How do I know if I'm eligible for financial aid?
- Will financial aid cover all of my costs?
- How do I accept my financial aid award?
- Can I get financial aid for online classes?
- When does financial aid disburse?
- How much does it cost per year to attend JBU? Will it matter when I start?
- Do you offer scholarships?
- My company has tuition assistance/remission benefits. How does that work?
- I have employer reimbursement available to me as soon as I complete my course and receive a grade. How quickly will I receive my grade after I complete a course?
- I’ve been selected for financial aid verification. Where can I obtain a copy of my tax return transcript?
- What is “satisfactory academic progress?” How does it affect my financial aid?
- My financial situation is different than last year (job loss, marriage, divorce, death of spouse, etc.). Is there any way to receive consideration for this change in my financial aid this year?
How do I know if I’m eligible for financial aid?
File the Free Application for Federal Student Aid (FAFSA) at fafsa.ed.gov. The FAFSA determines your eligibility for both federal grants and student loans. Most students are eligible for student loans, regardless of income. Add JBU's school code, 001100, to send your results of your FAFSA to JBU. You must be an applicant for admission into JBU for your aid to be processed.
Will financial aid cover all of my costs?
You can use financial aid for tuition, fees, and books as well as other authorized educational expenses (food, gasoline for commuting to and from class, mortgage/rent and utilities). If you are eligible for and accept enough financial aid to cover your student account balance at JBU, you will not be required to pay any money before beginning classes.
Most students in the JBU Degree Completion Program utilize student loans in order to cover some of the cost of the program. Student loans often have lower interest rates than traditional bank loans and can be a viable option to finance your education. They are a personal financial obligation that you must begin to repay six months after you graduate or cease half-time enrollment, however. Therefore, we recommend that students borrow the least amount possible in order to complete their degrees.
How do I accept my financial aid award?
After you have applied to JBU and the Financial Aid Office has processed your FAFSA, you will receive an email containing a link to your electronic financial aid award letter. You will need your JBU ID number to access this award letter. (If you do not have your ID number, please contact your admissions counselor or financial aid officer.) The award letter will include all aid for which you are eligible (grants and loans) and you can choose whether to accept, decline, or reduce each award amount. In other words, we’ll figure your loan eligibility, but you can choose to accept all, a portion, or none of it.
When does financial aid disburse?
Financial aid will disburse to your JBU account after you earn six credit hours at JBU. Typically, this is about midway through the semester. If you have accepted an adequate amount of financial aid (grants and/or loans) to cover the cost of your courses, you will be able to begin classes without any out-of-pocket expense. You may use any excess financial aid (financial aid that exceeds your account balance) for education-related expenses. Student Accounts will send you a paper check or make a direct deposit to your account within 14 days of financial aid disbursement. You can sign up for direct deposit by entering your bank information on the "Financial Information" tab on EagleNet (JBU's intranet).
How much does it cost per year to attend JBU? Will it matter when I start?
Your annual cost to attend JBU varies by major and number of hours enrolled. For organizational management majors, the tuition rate remains the same throughout the program so long as you do not withdraw from classes. For online students, the tuition rate is subject to change annually, on July.
Organizational management cohorts begin twice per year, in August and February. Online courses begin five times per year (August, October, January, March and June). Students must
enroll in a minimum number of hours each term/semester in order to receive financial aid.
Do you offer scholarships?
While other programs provide a discount through scholarships to a small percentage of their students, all students in our program pay a lower tuition rate, so we don’t offer scholarships.
If you're an Arkansas resident, however, you may be eligible for the Arkansas Academic Challenge scholarship. Other programs, like the Single Parent organization, may provide scholarships to eligible students. Please see the "Types of Aid" page for more information.
My company has tuition assistance/remission benefits. How does that work?
Often, companies utilize a remission process in which the employee receives a refund for semester/term expenses. Remission is sometimes based on the grade(s) the employee receives, so please check with your company for details
. At JBU, students are personally responsible for tuition costs, and must make payment arrangements by the registration deadline of each term/semester. In most cases, employees with tuition assistance/remission benefits choose to utilize a student loan to cover the up-front cost and then use the company reimbursement to repay the student loan. JBU also offers a payment plan option.
I have employer reimbursement available to me as soon as I complete my course and receive a grade. How quickly will I receive my grade after I complete a course?
JBU posts grades to Blackboard and/or EagleNet within 10 days of the completion of each course.
I’ve been selected for financial aid verification. Where can I obtain a copy of my tax return transcript?
The Department of Education selects about 33% of all FAFSA filers to completethe verification process. Being chosen for verification does not indicate your likelihood to receive aid, nor does it imply suspicion of misinformation. If you are chosen for verification, your financial aid application cannot be processed by JBU until you submit all requested documentation and the verification process is complete, however. If you refuse to supply any or all of the documentation, JBU is prohibited from disbursing federal student aid to you.
The verification process requires you to submit a copy of the tax information utilized to complete the FAFSA. You can obtain a copy of your tax return transcript via the IRS website, the toll-free request line (800-908-9946) or Form 4506-T.
What is “satisfactory academic progress?” How does it affect my financial aid?
In accordance with federal regulations, JBU is required to establish minimum Satisfactory Academic Progress (SAP) standards for students to remain eligible for financial aid. Students who do not attend or withdraw from classes, defer grades, and perform poorly
risk not maintaining satisfactory academic progress toward completion of their program of study. As a consequence, students may become ineligible for financial aid. Please see the "Financial Planning" portion of the Degree Completion Catalog for more information.
My financial situation is different than last year (job loss, marriage, divorce, death of spouse, etc.). Is there any way to receive consideration for this change in my financial aid this year?
Your FAFSA results are based on last year’s income, so if you have experienced a significant decrease in income due to a job loss, divorce or separation, or have paid unusually large medical expenses this year
you should contact your financial aid representative to discuss your situation and inquire about your options. You may be asked to provide detailed supporting documentation about your situation in order to receive special consideration.