Adult & Graduate Financial Aid

The Federal PELL Grant is given to students who demonstrate financial need based on FAFSA information. The grant for 2014-15 full-time students is $5,730 per year.

Direct Stafford Loans: Subsidized and Unsubsidized Direct Loans are awarded on the budgeted annual cost of attending Tabor College. Students are limited in the amounts they can borrow through the Direct Loan program each year. The interest rate is variable from year to year. Students who use the Direct Stafford Loan program are not required to make payments on the principal of the loan until six months after they leave school or drop below half time (unless this grace period has been used prior).
A Subsidized Stafford is a need-based loan that is awarded to students who have financial need based on the information submitted to FAFSA. The interest on subsidized Stafford Loans is paid by the federal government while the student is in school at least half-time.
For Unsubsidized Stafford Loans, interest accrues while the student is still in school. The borrower has the option to pay the interest while in school. If they choose not to pay the interest, the interest is added to the principal of the loan.

Current Interest Rates

Direct PLUS Loan: PLUS loans are federal loans that graduate or professional degree students and parents of dependent undergraduate students can use to help pay education expenses. The U.S. Department of Education makes Direct PLUS Loans to eligible borrowers through schools participating in the Direct Loan Program.
Here’s a quick overview of Direct PLUS Loans:
• The U.S. Department of Education is the lender.
• The borrower must not have an adverse credit history.
• The maximum loan amount is the student’s cost of attendance (determined by the school) minus any other financial aid received.

Private Loans: Private Education Loans help bridge the gap between the cost of an education and the other aid available. Private loans are offered by private lenders and eligibility generally is dependent on a credit score. Most traditional students require a co-signer and have a much higher interest rate that the Direct Stafford Loans. Tabor College recommends you use a reputable bank and review the terms carefully.

Tabor College Matching Church Scholarship:
Tabor will match scholarships from a student’s church made on behalf of that student. The College will match dollar for dollar up to $500 per academic year (max $250/semester).

Outside Scholarships:
There are many civic and faith based organizations like the Rotary Club, Circle K, Key Club, Masonic Lodge, or Jaycees that support students in the educational pursuits. Try Financial Aid Finder for civic and faith based scholarships. There are also scholarships for hobbies and interests, women and for Graduate school students. Please also see the list of scholarships on the Financial Aid Resources Page.

Military/Veteran Benefits:
Military/Veterans Benefits may be utilized by those who have served or who are serving in the US Armed Services, their spouses and dependents, and/or their surviving family members. There are several different military/veteran benefits available to many of our students. Tabor College students may contact Scott Franz in the Registrar’s office at scottf@tabor.edu for more information.

Employer Tuition Reimbursement:  reimbursement or employer assistance is offered by many companies as an incentive to their employees to obtain or complete their degree.  Please complete the Employer Tuition Reimbursement Request for necessary documentation needed for your employer. For more information on the processing of Employer Tuition Reimbursement, please contact Ruth Funk in our business office at ruthf@tabor.edu.