Costs & Financial Aid
Types of Aid Available
Federal Financial Aid
Federal financial aid is available in the form of Pell grants and Stafford student loans to supplement educational expenses or cover the cost of the Degree Completion Program. The Free Application for Federal Student Aid (FAFSA) should be completed as soon as possible in order to receive the best possible aid. The JBU school code is 001100.
Already completed a FAFSA for another institution? Visit our Transferring Federal Aid page.
Federal Stafford Student Loans
There are two types of federal student loans: subsidized and unsubsidized. Subsidized loans are based on student need, while unsubsidized loans are not. Depending on need, students may receive either type of loan, or a combination of the two. Students must be enrolled in at least six hours per term to qualify for a student loan.
For a federal subsidized student loan, the maximum annual loan amount is $5,500; aggregate limit is $23,000. Current fixed interest rate is 3.4%.
For a federal unsubsidized student loan, the maximum annual loan amount is $7,000; aggregate limit is $34,500. Current fixed interest rate is 6.8%.
Repayment of federal Stafford loans is over a 10-year period and begins six months after ceasing half-time enrollment.
Arkansas Academic Challenge (Lottery) Scholarship
A limited number of scholarships will be awarded to non-traditional students. There is no income requirement and recipients must be Arkansas residents and US citizens/lawful permanent residents.
Deadline: June 1, 2013 for the 2013-14 school year
For more information, visit the Arkansas Department of Higher Education website or call 800-547-8839.
Students who are Arkansas residents and complete a FAFSA may receive a small Arkansas Workforce Improvement Grant (WIG). The state allots a limited amount of funds per institution per school year. Eligibility for this grant is based on several factors including, but not limited to: (1) need criteria (based on FAFSA results); (2) WIG administration guidelines; and (3) availability of funds.
Submitting a FAFSA is the only step needed for JBU's Financial Aid Office to review your eligibility for WIG. Students eligible for this grant will see WIG packaged with Federal aid within their financial aid award letter.
Alternative Student Loans
In some instances, students need (or prefer) to use alternative student loans rather than federal loans. These loans are treated similarly but are based on personal credit.
Single Parent Scholarship
Scholarships are awarded to eligible single parents who have primary custodial care of at least one minor child, live in Arkansas, and are current or future undergraduate students. Other criteria may apply and varies by county. For more information, visit the Arkansas Single Parents Scholarship website.
Students who are eligible for Veterans benefits should complete the appropriate paperwork as early as possible. Contact your Degree Completion Program representative for assistance.
Some companies offer partial- to full-tuition reimbursement for eligible employees. Check with your employer to see if you qualify.