Loan Forgiveness

Fulfill the requirements of ministry and regular reporting.

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As you know, the intent of the BGC Scholarship is to train Christian leaders for further ministry.  You are expected to return to full-time Christian ministry as soon as possible following graduation from Wheaton.  For Pre-field Missionary Candidates, you are expected to deploy overseas as soon as possible.  We automatically give every graduate a grace period of nine months.  Loan forgiveness is earned at the rate of 1 year of service = 25% loan forgiveness.

Wheaton College is the lender for your BGC loan/scholarship, however we utilize a company called Affiliated Computer Services (ACS) as the billing servicer.  You can go online at www.acs-education.com and view your loan at any time.  Please direct any questions and status updates about your loan to Tristan Rackow, Student Financial Services Advisor for Graduate Students. (sfs@wheaton.edu)

Please complete the exit loan counseling around the time of your graduation.

Ask your ministry supervisor to complete a Status Update Form on your behalf for events such as:

  • date of return to ministry
  • deployment to ministry for the first time
  • delay in returning or beginning ministry
  • completion of 12 months of service
  • enrollment into another degree program
  • other life events that may affect being on the field or the ability to continue payments

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