Student Loans

Boyce College does not participate in any Title IV (federal or state) student aid programs involving loans or grants. Therefore, it is unnecessary for Boyce College students to complete the Free Application for Federal Student Aid (FAFSA).

How to Apply

  1. Complete the Pre-Loan Application/Cost Estimator Worksheet and email the signed copy to Please DO NOT submit photos of the worksheet.
    • If you are a first-time borrower, you must schedule a “First-time Borrower” meeting with the Financial Aid office before your loan will be approved.
    • Students may borrow a maximum of $21,000 per year. Requests exceeding $21,000 require a detailed explanation specifying the need for a higher amount. Special approval will need to be granted by the Vice President of Enrollment Management. We will seek this approval upon receipt of your worksheet.
  2. Complete the online application with (1) Sallie Mae, (2) College Ave, (3) KHEAA, (4) PNC, (5) Ascent Funding.
    • For a comparison of available loans, click here.
  3. Once your loan has been approved, The Financial Aid Office will certify the student loan and set disbursement dates based on the information given in your Cost Estimator Worksheet.
  4. Students can request a refund check from the Accounting Office for rent and books by logging into, selecting the “Account Information” tab under Student Tools, and completing the “Check Refund Request” form.

Suggested Deadlines

While there is no official deadline for student loans, students who intend to use a loan disbursement to pay for tuition costs should have all parts of the application process (including submission of the Cost Estimator Worksheet to the Financial Aid Office) completed by the following dates in order for us to get your certification processed in time:

  • Fall Term: July 1
  • Winter Term: November 1
  • Spring Term: December 1
  • Summer Term: April 1

Tips for Borrowing

  • To learn more about how a private student loan works, click here.
  • To learn more about what categorizes as a valid loan expense, click here.
  • Only borrow what you need. Remember that every dollar that is borrowed will be required to be repaid in the future, plus interest. Calculate how much of your school-related expenses can be paid by other sources (scholarships, payment plan) and then apply for a loan for the remaining amount.
  • Make monthly payments while in school. Paying off the interest that accrues each month while in school can amount to large savings after you graduate. Some lenders offer lower interest rates for students who make monthly payments while in school.
  • Apply with a cosigner if possible. Applying with an eligible cosigner can often help students be approved for a lower interest rate. Also, having a cosigner can help students who do not have adequate credit history be approved for a loan who would not otherwise be eligible.
  • Compare interest rates of lenders before applying. Find a loan and interest rate that is the best fit for you. If you apply with multiple lenders, remember to cancel loans that you do not intend to use.

Repayment and Loan Deferment

  • Start planning now for how to repay student loans. Our preferred lenders provide the following resources to help you prepare for the repayment process. Remember that you will pay less overall if you make payments while you are in school. At the same time, minimize the amount you borrow as much as possible.
  • For more information on loan deferment, please click here.

Institutional Loan Option

Short Term Loan
Southern Seminary and Boyce College offer a short term loan to continuing students for a maximum of $2,000 with an annual interest rate of 7%. Students may apply for a short term loan for tuition or living expenses by emailing or by visiting the Financial Aid Office (Norton 153). The repayment period for the loan is 6 months. Please allow one week from the time of application for processing.


  1. Student must be currently enrolled at Boyce College and a continuing student (first semester students are not eligible to apply).
  2. Student must not be on academic probation, academic warning, or under disciplinary action.
  3. Loans are not available for students who have filed bankruptcy.
  4. Student must have completed one semester at Boyce College.
  5. Loan applications must be accompanied by a Self-Certification Form (available in the Financial Aid Office).