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Financial Planning

Types of Aid Available

Federal Aid:

Pell grants
Provided directly by the Federal government to students with exceptional need. FAFSA required.

Supplemental Education Opportunity Grant (SEOG)
Federal funds provided to the school and limited to students who qualify for a Pell Grant.

Federal Work Study (FWS)
Provides funds for part-time employment to help needy students finance the cost of postsecondary education

State Aid:

Alabama Student Grant (ASG) is non-need-based and requires proof of residency in Alabama and a separate application. The standard ASG award is approximately $400/year.

Alabama Student Assistance Program (ASAP) is a need-based grant and requires a valid FAFSA.  ASAP is offered to students who demonstrate extreme financial need. The standard award at BSC is about $800/year. (FAFSA required)

Other Alabama Student Aid Programs: Learn about the full range of state aid programs here.

BSC grants:

Students eligible for additional funds after their BSC scholarships, external scholarships, and federal and state grants may receive a BSC grant funded by the college and based on demonstrated financial need.

Merit-based aid:

You've worked hard to get to this point. You should be rewarded for it! You can read about our scholarship options here.

Loans:

BSC provides federally insured, low-interest, long-term loans to students and parents through the U.S. Department of Education. There are four main types of federal loans:

  • Direct Subsidized Loans are need-based and go to students.
  • Direct Unsubsidized Loans are not need-based and go to students.
  • Direct PLUS Loans go to parents and are not need-based.
  • Perkins loans go to students with exceptional need.

Private loans are also available. In a given school year, about 50 BSC students utilize private/alternative student loans to help cover costs of attendance that are not covered with other sources of financial aid, including past due balances. Most private/alternative student loans are borrowed by the student and require a creditworthy co-signer.

The student is free to choose any lender for a private/alternative student loan, and BSC Financial Planning certifies eligibility and coordinates the loan with other financial aid awards. BSC has screened certain private/alternative lenders to assist the student in the selection process. 

Click here to find out more about loan options.