It is anticipated that the student will be a full-time intern working with a support package determined by FEBI for the duration of the study period, a period of three years minimum. The student, under the direction of FEBI, would be responsible to raise that support from their home church and other supporting churches. The amount raised will include one third of the cost of ACTS / NBS tuition, full Gateway fees and the STM expenses. The other two thirds of the ACTS / NBS tuition would be shared equally between NBS (by way of scholarships) and the student (personal resources). Terms of the support arrangement for the FEBI portion are entirely within the province of the FEBI and student. These may include basic living expenses (Gateway fees include room and board during the four month cohort experience). FEBI will seek to work out a financial package that would enable the student to remain in the program for the duration of the project and complete the degree with no outstanding debts. However this may not always be possible.
ACTS/NBS TUITION COSTS
The current rate for Diploma level courses is $175 per credit over a total 17 credit hours (13 credits are covered by the Gateway program. An additional $500 will be required to cover the NBS academic oversight of these courses). $175 X 17 = $2975 + $500 = $3475 FEBI support package $1160 Seminary $1160 Student $1160 The student and FEBI support package would provide a total of $1160 each to NBS for the diploma level courses. The current rate for Masters level courses is $315 per credit over a total of 52 credit hours as determined by ACTS Seminaries. $315 X 52 = $16,380 FEBI support package: $5460 Seminary $5460 Student $5460 The student and FEBI support package would provide a total of $5460 each, spread unevenly over the seven semesters of the second and third year. This amount does not include the cost of books and supplies which would be over and above these costs; nor does it allow for inflationary increases from year to year.
SUMMARY:
| Student | Support Package | Seminary Scholarship |
|---|---|---|
| Diploma Tuition…$1160 | Diploma Tuition…$1160 | Diploma Tuition…$1160 |
| Masters Tuition…$5460 | Masters Tuition…$5460 | Masters Tuition…$5460 |
| TOTAL TUITION…$6620 | TOTAL TUITION…$6620 | TOTAL TUITION…$6620 |
GATEWAY TUITION COSTS
$3220 per person including fees, room and board during the four month cohort training program (couples and families will have some concessions).
FEBI RAISED FUNDS
The student will be required to raise the following support package (apart from the responsibility for the personal portion of the tuition) for the first four semesters of the program, through to the end of the short term missions trip (FEBI 15% administration charge on all funds raised included):
- ACTS/NBS Fees: …… $2,058 (17 diploma + 6 credits of Master’s tuition)
- Living Expenses: ………. $575
- Gateway: …………….. $3,707
- STM trip: ……………. $16,000 (Columbia/Pakistan) …….. $20,000 (Japan/Europe)
Total: ……………………. $22,340 …………………………………. $26,340 The initial financial cost is quite substantial due to Gateway fees due the beginning of the second semester, and the Short term missions expenses due the beginning of the third semester. The student will therefore be required to raise an initial $10,000 ($14,000 for Japan/Europe) for the STM / Gateway expenses as well as have pledged $770 per month for the first four semesters before the start of the program ($770 x 16 months = 12,320). The student will be required to raise the following support package (apart from the responsibility for the personal portion of the tuition) for the final five semesters of the program:
- ACTS/NBS Fees: …………… $5,555 (46 credits of Master’s tuition)
- Living Expenses: ……….. $17,250
- Ministry Expenses: ……. $1,725
- total: ……………………….. $24,530
This represents $1225 per month (20 months) to be raised.