Page 27 - 2018-2019 Academic Catalog

Subsidized Loan
The subsidized loan provides for students with financial need as determined by federal regulations. This subsidized loan will not accrue interest while the student in enrolled in school at least half time, or during the student’s grace and deferment periods.
Unsubsidized Loan
The unsubsidized loans are disbursed to students without concern for need. These loans accrue interest during all periods.
Parent PLUS Loans
Plus loans are offered to parents of dependent college students to help meet college costs. Plus loans allow parents of dependent students to apply for as much as the difference between the cost of education and the student’s financial aid. The loan is not need based, but the parent’s credit history may be reviewed to determine eligibility. The Plus loan should be used only after all other resources have been considered since interest begins 60 days after the first disbursement. Repayment normally begins 60 days after the full amount you’ve borrowed for a school year has been disbursed.
STUDENT EMPLOYMENT
At Providence Christian College, student employment serves to assist in the educational program of the College by providing financial resources for the students to help pay for college and by training students to be effective Christian employees to impact the world for God. Filling out a student employment application does not guarantee employment. See website and student employment handbook for more specific information regarding student employment.
Financial Aid Awarding Policies
The Financial Aid Office strives to award all applicants the maximum grant, scholarship, loan, and work-study aid for which they qualify. However, federal, state, and/or institutional guidelines may restrict the total amount or type of award a student may receive.
Institutional Aid is determined based on both merit and demonstrated need. Institutional aid is comprised of all scholarships and grants awarded by the college. The college reserves the right to change institutional financial aid should the status of a student change. Please be aware that any changes in federal aid, outside scholarships, number of credits taken per semester, or housing status may impact your financial aid eligibility. For example, if you change from on-campus to off-campus, your estimated Cost of Attendance (COA) will be reduced, as the estimated COA for living off-campus is less than the estimated COA for living on-campus. In turn, your financial aid eligibility will be reduced. Depending on your aid eligibility, grants/scholarships, loans or work-study opportunities may be reduced. In nearly every case, if you are offered a Providence Grant or Scholarship that award will be adjusted.
Aid will be stacked in the following order (unless otherwise stated):
 Federal Grants
 State Grants
 Outside Aid (depending on what the scholarship/award is designated to help cover)
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