Loans

Student loans are a reality for funding educational and living costs. Fifty-eight percent of 2001 MB Biblical Seminary graduates had educational debt. The average educational debt per student with loans was $26,317 (US). Students should carefully calculate the amount of shortfall in their resources before signing a promissory note for a loan. Contact the Financial Aid Director for more information about sources of funding for seminary costs and application forms.

Award Amount Criteria
Canadian Student Loans Varies
  • Canadian resident
  • Criteria varies by province
Federal Family Education Loan Program Up to $8500 subsidized; Up to $12,000 unsubsidized
  • U.S. citizen or permanent resident
  • Completion of the Free Application for Federal Student Aid, FAFSA. MBBS' code for step 6 of the FAFSA loan application is G10368
  • Specific details and other criteria are available at http://www.fafsa.ed.gov
MBBS Emergency Loan Varies
  • Demonstration of financial need
  • Reasonable plan for repayment
MBBS Interest-Free Loan Up to $8000 per year(minimum 9 units)
Up to $4000 per year(minimum 6 units)
  • Minimum GPA of 2.5 for returning students
  • Minimum of 6 units per semester
  • Membership in a Mennonite Brethren, Mennonite, or BIC church
  • Demonstration of financial need
  • Reasonable plan for repayment