Financial Information

GENERAL REQUIREMENTS

The generosity of individual Christians and churches helps students receive quality professional training at a cost less than that charged by many institutions. The Seminary strives to help every student receive the education he/she desires.

TUITION AND FEES
 
In the course of the training the student may obligate him/herself for the following fees:
 
Application fee (non-refundable): $35
Annual Stationary and Library Services: $20
Reactivation Fee: $35
Late Registration Fee: $10
Assessment for the 2nd Month Payment: $10
Late Examination Fee: $20

Graduation Fee
   
Institute and College Level: $50
Seminary Level: $60  
Drop Fee (per course): $10
Transcript Fee: $ 5
Replacement Status Sheet: $10

Tuition Charges per course
   
Institute and College Levels: $100
Seminary Level: $120

Audit Charges per course 75% of tuition per course
 
REFUND POLICY
 
Ninety per cent of the Tuition Fees are refundable during the first two weeks of the course. Fifty per cent of the Tuition Fees are refundable before the end of the first month of study. No refund is being made after the first month. The application fee, the annual stationary and library fees, and other fees are non-refundable. Refunds will be made within 30 days of the student’s cancellation.
 
PAYMENT PLANS
 
Financial charges are due and payable in full at registration. If the student chooses to pay in two consecutive equal monthly payments, an additional fee of $10 will be assessed.

Payments by check should be written to: LBC Seminary.

Students should not send cash by mail.

Any student who has not paid his/her entire bill (or made satisfactory arrangements with the President) on or before the mid-term will be suspended from class. During the period of suspension, the student may not attend classes, submit class work, or take examinations. The student may not make any work or examinations at a later date.
 
SPONSORSHIPS: CHURCH, CORPORATE, OR INDIVIDUAL
 
A student’s church, corporation, friends, or relatives may desire to pay some or all of his tuition fees. The amount of the payment will be credited to his/her account after proper authorization has been received by LBS.

Proper authorization is understood to be an official document from a church or corporation stating the person(s) being sponsored and the amount(s) to be credited. It must be signed by an officer who is not receiving any part of the sponsorship.

Sponsorship monies will be held available for use or refund for one year from the date of last activity. Sponsorship monies will be refunded only to the sponsor and only on written request within 1-year time limit. Beyond the specified time, any unused and unrefunded monies will be applied to LBS general fund.
 
POLICY CONCERNING DONATIONS
 
Monies given to the Seminary by institutions, foundations, churches, or individuals will be used for the purposes for which they were designated. Undesignated gifts will go to the general budget of the Seminary.
 
FINANCIAL ASSISTANCE
 
Spouse Benefits

When a student registers for on campus semester courses, the student’s spouse may register for an equal number of courses at a reduced price decided by the Administration upon the need of the family.

Tuition Assistance

Because of its low tuition rate, LBS believes that all students are enjoying financial assistance to some extent.

Beyond the low rate of tuition, certain limited tuition assistance and scholarships are available. These are granted to students on the basis of verifiable need and availability of funds.

All student tuition assistance and scholarship programs are coordinated by the President, the Registrar, and the Board of Trustees.

Students desiring financial assistance must submit a Financial Aid Form to the Registrar. These forms may be obtained after students receive acceptance into LBS degree program. Each student approved for financial assistance will be required to reapply annually. LBS reserves the right to reject or review this assistance at any time.