Financial Aid

Financial Aid2018-06-22T10:33:38+00:00

Federal Aid     |     Institutional Aid     |     Veteran Benefits   |    Internationals

Federal Student Aid (FAFSA)

Elim’s Federal School Code: 042514

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. 

Step 1
Create an FSA ID (a dependent student’s parent must create an FSA ID, as well).
Watch this short tutorial on how to get started (FAFSA and FSA ID Tips for Parents). Encourage your parents to watch it as well. 

Step 2
Complete the FAFSA. On the 2018-2019 FAFSA, a student/parent’s will report their 2016 income and tax information. 

Step 3
Complete the Online Interview on Elim’s Virtual Financial Aid Office site.

Step 4
Complete and upload Verification Paperwork to Elim’s Virtual Financial Aid Office under the Forms & Documents tab. Students are emailed if Verification Documents are required. 

Types of Federal Aid

Pell Grant

The Federal Pell Grant is available to eligible undergraduate students who demonstrate financial need and who have not yet earned a bachelor’s or a professional degree. 

FSEOG Grant

FSEOG is awarded to eligible undergraduate students with the lowest EFCs who have not yet earned a bachelor’s or a professional degree. This Grant is administered on a first come first served basis.

For more information, visit the FSEOG page of the Federal Student Aid website.

Federal Work Study

Federal Work Study offers part-time employment at Elim or through a community service job to undergraduate or graduate students with financial need.  

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.

Complete a Master Promissory Note (MPN). This must be completed by all first-time borrowers before loans are disbursed. Upon graduation/withdrawal from Elim, students who take out a loan must complete Exit Counseling on the Federal Student Aid website. After Exit Counseling is completed, student then meet with the Financial Aid Officer to review loan repayment information. 

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, visit the Direct Subsidized and Unsubsidized Loans page of the Federal Student Aid 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, visit the PLUS Loans page of the Federal Student Aid website. 

Note on Loans: As a student or parent borrower, your Federal loan information is submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system.

New York State Aid

Elim’s TAP School Code: 0580

Types of NY State Aid

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.  

Enhanced Tuition Award (ETA)

The Enhanced Tuition Awards (ETA) program provides tuition awards to students who are New York State residents. Recipients will receive $6,000 through a combination of their TAP award, ETA award and a match from their private college. Recipients must be a full-time student enrolled in Elim’s AAS program.  A recipient must live in New York for two years after completing Elim’s AAS program. Failure to do so will result in the ETA award to a no-interest loan.  


Institutional Aid

Institutional Aid* is awarded based on a student’s need and on a first come first serve basis. We cannot guarantee availability of Institutional Aid for Financial Applications received after May 1st (for students beginning attendance in the Spring the deadline is November 1st). For further Financial Deadlines click here

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

Please reference our Institutional Financial Aid Policy for the complete Financial Aid terms and conditions.

Types of Institutional Aid

Institutional Financial Aid includes a combination of scholarships and/or campus employment. 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. 

Campus Employment

Campus Employment funds earned through part-time employment on the Elim Campus.  Students awarded this position as part of their Institutional Financial Aid are typically awarded between 60 to 150 hours for one semester at the prevailing student wage. 

If you receive a campus employment position all required paperwork and deadlines can be found here.

Endowed Scholarships

Elim Bible Institute and College has several endowed scholarships which are made possible through generous donations from alumni, family, and friends who support Elim’s mission. For more information, please visit the Endowed 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 50% 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.

If you are eligible for Veteran Benefits, please contact the Financial Aid Department at financialaid@elim.edu.

Resources

U.S. Department of Veterans Affairs Website

Veteran’s Outreach Center