Financial Aid

Tuition-Paid Program

Moody Bible Institute has been providing a tuition-paid education on its Chicago campus for all undergraduate students for over 125 years. We believe that giving students an education, free of the burden of debt, only strengthens the impact they will have in their ministry. This is a Moody distinctive that we are proud to continue.

Our ability to provide a tuition-paid education is made possible through Moody Grants, funded by gifts from generous donors, and by grants from federal Title IV programs (Federal Pell Grants and Federal Supplemental Educational Opportunity Grants), accepted on behalf of eligible Moody students.

FAFSA

Moody requires that all undergraduate students attending the Chicago campus complete the Free Application for Federal Student Aid (FAFSA). This application is required in order to receive a Moody tuition-paid grant. The only exceptions are for international students holding an F1 student visa or students who may be unable to complete a FAFSA due to extenuating circumstances. Any student with extenuating circumstances must contact the Financial Aid Office in order to apply for a waiver.

Moody remains firmly committed to sustaining our tuition-paid grant program without compromising the integrity of our Bible-based education. For more information, please see www.moody.edu/chicago/tuition.

Loans

Federal Direct Loans for Undergraduate Students

Federal Direct Loans are borrowed money that must be repaid. These low-interest loans are available to eligible dependent and independent undergraduate students. To apply for these loans, you will need to complete the FAFSA, accept your loans at my.moody.edu, complete the Loan Agreement (MPN) and Entrance Counseling at https://studentloans.gov. For more information, visit Moody's website: https://www.moody.edu/federal-financial-aid/loans/

Parent Loan for Undergraduate Students (PLUS)

The Federal Direct PLUS Loan for parents is a government-backed loan with a fixed interest rate. Eligible parents may borrow up to the full annual cost of their child's education, minus other financial aid received. The PLUS Loan may be deferred, including interest, or may be prepaid at any time, without any penalty. PLUS Loan credit requirements are typically more lenient than consumer credit requirements. In general, any resolved credit problems are disregarded. To apply for a Federal Direct PLUS Loan, please complete and submit a PLUS Loan credit check and a Direct PLUS Loan Master Promissory Note (MPN) at https//studentloans.gov. For more information, visit Moody's website: https://www.moody.edu/federal-financial-aid/loans/

Scholarships

Moody has a collection of Institutional Scholarships and Grants that are funded by generous gifts from donors. Most institutional scholarships are reserved for upperclassmen. However, the Office of Financial Aid will review your admissions application and FAFSA to determine your scholarship eligibility.

Many outside organizations offer scholarships for qualifying students. Students can search for these scholarships online, beginning at http://www.moody.edu/chicago/external-scholarships/- Many other scholarship search tools can also be helpful. Please remember that you should never pay for a scholarship search. 

Veterans' Benefits

Moody Bible Institute is approved to accept veterans' benefits for most programs. For more information, please visit www.moody.edu/chicago/financial-aid.

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