Financial Aid

Financial Aid 2017-06-02T08:30:17+00:00

Federal Aid     |     Institutional Aid     |     Veteran Benefits

    |    Internationals

Federal Student Aid (FAFSA)

The Free Application for Federal Student Aid (FAFSA)* is an Application used to apply for Federal Aid. This Application must be completed in order for students (not including International students) to apply for Federal, State, or Institutional Aid. Elim’s Federal School Code is 042514. Students must create an FSA ID in order to complete the FAFSA (a dependent student’s parent must make one, as well).

Upon completing the FAFSA, an Online Interview on Elim’s Virtual Financial Aid Office site must be completed in order for a student’s FAFSA to be processed.

*Watch this short tutorial on how to get started (FAFSA and FSA ID Tips for Parents). Encourage your parents to watch it as well. 

Types of Federal Aid

Pell Grant

The Federal Pell Grant is money which does not require repayment and is awarded to undergraduate students who have not yet earned a bachelor’s or a professional degree.

Loans

The loans offered at Elim Bible Institute and College are the following Federal loans: Direct Subsidized Loans, Direct Unsubsidized Loans, and PLUS Loans. A student loan is money borrowed that will have to be paid back with interest. The Master Promissory Note (MPN) online must be completed by all first-time borrowers before loans are disbursed. 

Direct Subsidized Loans

Loans available to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college.

Direct Unsubsidized Loans

Loans available to eligible undergraduate, graduate, and professional students. A student does not have to demonstrate financial need to be eligible for this loan.

For more information on Direct Subsidized and Unsubsidized Loans, please visit the following website

PLUS Loans

A loan available to graduate students and parents of dependent undergraduate students for which the borrower is fully responsible for paying the interest regardless of the loan status.

For more information on PLUS Loans, please visit this website


New York State Tuition Assistance Program (TAP)

The New York State Tuition Assistance Program (TAP) is a state-funded grant available to eligible New York residents, to assist them in paying their tuition. Recipients of this grant must be a full-time student enrolled in the YIS or AAS programs.  A student may receive an annual TAP award of up to $5,165.  
New York State Higher Education Services Corporation website.


Institutional Aid

Institutional Financial Aid is awarded based on information provided from a student’s FAFSA (as described above) or the International Financial Need Questionnaire for International students.* International applicants, see this page for further information about applying to Elim.

Institutional Aid is awarded on a first come first serve basis, and we cannot guarantee availability of Institutional Aid for Financial Applications received after May 1st (click here for further Financial Deadlines). Students looking to begin attendance in the Spring need to have their FAFSA or International Financial Need Questionnaire submitted by December 1st.

All students agree to the terms and conditions of the Institutional Financial Aid Policy upon acceptance of their Institutional Financial Aid. Please reference our Institutional Financial Aid Policy for the complete Financial Aid terms and conditions.

*Financial Aid does not apply to fees or any direct costs to EBI&C such as room and board costs while at NYSUM.

Types of Institutional Aid

Institutional Financial Aid includes a combination of scholarships and/or on campus employment, and is awarded based on a student’s financial need.

Additional Institutional Aid may be given to children whose parents are pastors or missionary. If a student fits this criteria, please email the Financial Aid Office at financialaid@elim.edu and indicate the student’s eligibility. 

NOTE: The Church Matching Scholarship has been discontinued for the 2017-2018 Academic Year.

On Campus Employment

On Campus Employment means that a student is assigned a job on the Elim Campus.  Students awarded this position as part of their Institutional Financial Aid are typically awarded between 70 to 200 hours for one semester at the prevailing student wage. 

If you receive a work study position all required paperwork and deadlines can be found here.

Endowed and Funded Scholarships

Much of the Institutional Financial Aid is funded by donations to specific scholarship funds. Some of our established funds include:

Costa Deir International Leadership Scholarship, The Founder’s Heritage Scholarship, Ron Taylor Scholarship, Ruth Rodriguez International Scholarship, Mefus Edwards Scholarship, Paul and Gloria Johansson Scholarship, Hugh Seager Memorial Scholarship, Joshua David Pieper Scholarship. For information on eligibility, please visit this the Endowed & Funded Scholarships page.

RA Scholarship

Students who are selected for the position of RA are awarded $1,000 per academic year.

Applied Ministry Certificate Scholarship

Students enrolled full-time in our Applied Ministry Certificate Program receive approximately 40% off their Tuition and Room and Board costs.  


Veteran Benefits

Elim Bible Institute and College is approved by the New York State Division of Veterans Affairs, Bureau of Veteran’s Education, for the training of veterans and other eligible persons.

Contact the Financial Aid Department for further details at financialaid@elim.edu.