Financial Aid

Your education is an investment that will directly impact your future earning potential. Therefore, it is very important to consider when choosing a college how you will pay for your tuition. Baltimore International College believes that no student should be denied an education because of a lack of financial resources.

The Financial Aid Officers at BIC will meet with any student one on one, and help you plan your educational expenses, identify programs that can help you pay your tuition, and fill out any necessary paperwork. Different aid programs award financial assistance for varying reasons, from financial need, merit or affiliation, so everyone is eligible to receive some financial aid.

Financial aid consists of scholarships, loans, grants and work-study programs from federal, state, institutional and private sources. Anyone wishing to receive any financial aid needs to fill out and submit a FAFSA, which can be found here: http://www.fafsa.ed.gov/

For more information, call a Financial Aid Office at 410.752.0490.

Download a .pdf of the Undergraduate Financial Aid Fact Sheet or a .pdf of the Graduate Financial Aid Fact Sheet for more information.

You can also check out this additional information:
Federal Financial Aid Sources
State Financial Aid Sources
Institutional Financial Aid Sources
Private Financial Aid Sources 
American Hotel & Lodging Educational Foundation

Federal Financial Aid

Federal Pell Grant - A grant is a gift or free money that is not repaid. Awards range from $400 to $4731 for individuals who have not earned a bachelor's degree. Complete the FAFSA with our school code 016376. Forms are available in the Student Financial Planning Office or online at www.fafsa.ed.gov.

Federal Supplemental Educational Opportunity Grant (SEOG) - A grant is a gift or free money that is not repaid. These funds are limited, and are awarded on a first come, first served basis. Awards range from $200 to $2,000. Complete the FAFSA with our school code, 016376.

Academic Competitiveness Grant (ACG) - A grant from the federal government, which is not repaid. To qualify a student must be Pell Grant eligible, enroll full time, seeking a degree, a U.S. citizen and have taken a rigorous program of study while in high school. Awards range from $750 to $1300.

Federal Work-Study - A program where you earn your funds by working on campus. Students may work up to 20 hours per week, and wages range from $6.55 to $9.50 per hour, based on year in college and position. Positions are not guaranteed.

Federal Subsidized Stafford Loan (SUB) - A need-based loan in the student's name, which must be repaid. Students may borrow up to $3,500 in their freshman year, $4,500 in their sophomore year, and $5,500 in each of their junior and senior years. Prior degrees earned at other colleges do not affect these amounts. Students who do not qualify for the full amount may borrow the difference in Unsubsidized Stafford. The bank will deduct a guarantee fee, not to exceed 1% for the loan amount. The remainder will be disbursed to the college in two installments. The interest rate is fixed at 6%. Repayment begins six months after you leave BIC. Minimum monthly payment is $50 per month.

Federal Unsubsidized Stafford Loan (Unsub) - A non-need based loan in the independent student's name. Loan must be repaid. Students may borrow up to $9,500 in their freshman year, $10,500 in their sophomore year and up to $12,500 in their junior and senior years. (Note: At least $6,000 of the freshman and sophomore years' loans are Unsubsidized, and at least $7,000 of the junior and senior years' loans are Unsubsidized.) Dependent students may borrow up to $5,500 in their freshman year, $6,500 in their sophomore year and $7,000 in their junior and senior years. The terms and conditions of the loan are the same as the Subsidized Stafford except the student is responsible for interest throughout the entire life of the loan. The interest rate is fixed at 6.8%. Interest accrues while in school and during periods of deferment. The accrued interest may be paid or capitalized during these periods.

Federal Parent Loan for Undergraduate Students (PLUS) - A loan for credit-worthy parents of undergraduate students. Parents may borrow up to the total cost of attendance at BIC minus any other financial aid awarded. The bank will deduct a guarantee and origination fee of up to 4%. The funds are disbursed in two equal disbursements to the College in both the parent and the college's name. The interest rate is fixed at 8.5%. Repayment begins sixty days after the second disbursement.

State Financial Aid

Most states offer grants and scholarships to their residents. Contact your state's education departments for more information and application. Maryland offers need-based and merit grants and scholarships to BIC students who are Maryland residents. (Guaranteed Access Grant, Educational Assistance Grant, Transfer Grant, Senatorial Scholarship, Delegate Scholarship, Hope Scholarship, and Part-Time Grant.) The FAFSA is the application for most of these grants and scholarships. However, some do have separate, additional applications. Contact your Financial Aid Officer for more information or log on to the state's Web site at www.mhec.state.md.us.

For residents of Pennsylvania, New Jersey, New York and Virginia, BIC will match up to $3,000 per year for scholarships awarded by these states.

Institutional Financial Aid (limited list)

Leadership Grant - A grant or free money that is not repaid. Award amount is $1,500 per semester. One half of the award is credited against tuition and fees, and the other half is earned through the Leadership Work-Study program. This award is renewable if the student maintains a 2.0 GPA or higher during the previous academic year.

Career Opportunity Grant - A need-based grant that is not repaid. Funds are limited. Awards range from $200 to $3,000. This award is renewal based on need and available funds.

Alumni Referral Scholarship - An award of $500 based on the referral from a BIC Alumni. Referral card must be completed.

VICA Membership - Vocational Industrial Clubs of America -Members of VICA, Culinary Arts or Hospitality programs, who attend BIC within one year of graduating high school, will be awarded $1,500 per academic year. Award is renewable if student maintains a 2.8 GPA.

VICA Competition Awards - State competitions, students who place first, second or third place in Culinary Arts or Food and Beverage Service who attend BIC will be awarded $5,000 for first place, $3,000 for second place or $2,000 third place in their first academic year, as well as the VICA Membership scholarship for the subsequent years.

Maryland's Pro-Start Program - Students who participate in Maryland's Pro-Start Invitational sponsored by the National Restaurant Association who place first, second or third will be award $5,000, $3,000 or $2,000 respectively to be applied toward tuition and fees at BIC.

Academic Scholarship - Awarded to high school seniors who submit an official high school transcript with a 3.0 GPA or higher, and who attend BIC within one year of graduation. Award is $2,000 annually and is renewable with a 3.0 GPA or higher during the previous academic year.

Transfer Scholarship - Students transferring to BIC from a college with an articulation agreement in place. Award is $5,000 annually.

Private Financial Aid

For a complete list visit the BIC Scholarship page. You may also contact a Financial Aid Officer for more information and applications.

American Hotel & Lodging Educational Foundation

The American Hotel & Lodging Educational Foundation (AH&LEF) is the not-for-profit, charitable-giving, and fund raising affiliate of the American Hotel & Lodging Association (AH&LA). For more than 50 years, the Foundation has been the primary source of financial support for industry-related scholarships and research. Visit www.ahlef.org to fill out an online application.