FAQ
Frequently Asked Financial Aid Questions
Do I have to file a FAFSA every year?
Yes, a FAFSA should be filed every year the student will be attending school and looking for financial assistance. www.fafsa.ed.gov.
Do I have to sign a Master Promissory Note (MPN) and complete an Entrance Interview session every year for the Federal Direct Stafford Loan?
No, only those students attending Boston University for the first time or borrowing federal funds for the first time will have to complete a Master Promissory Note at www.dlenote.ed.gov and complete an Entrance Counseling session at www.dl.ed.gov for the university.
Do I have to submit an institutional Federal Direct Stafford Loan Processing Request Form every year?
Yes, for every year a student is interested in financial assistance a FAFSA must be filed and an institutional loan application must be submitted to the financial aid office.
What is Boston University’s school code?
The school code for Boston University is 002130.
Are international students eligible for financial aid?
International students are not eligible for any federal financial aid but there some lenders that allow international students to borrow educational funds as long as they can secure a US Citizen or Permanent Resident as a co-signer. See the Private Loans section for more information.
Are there any scholarships/assistantships available to MA/MS students?
Most of our MA/MS programs are strictly loan based but you should check with the department/program you are applying with for further information. (There are no scholarships/assistantships available to students in the MA in Medical Sciences Program.)
When will I receive my living expense funds?
University regulations restrict us from releasing any federal funds until class officially starts for each semester and provided you have been officially approved for the credit based loan as well as completed all Federal Direct Stafford Loan requirements.
How will I receive my living expense check?
Students will need to contact the financial aid office and request the release of their living expense check as soon as the funds are available as long as it is after the first day of class.
Can my check be directly deposited to my bank account?
Unfortunately, checks cannot be directly deposited into your bank account. Students can request the check be held for pick up at Student Accounting located on the Charles River Campus or they can choose to have the check mailed to a local/permanent address.
I need to repeat a course. Can I get federal funds to pay for it?
Unfortunately, federal funds cannot be used to pay for a repeated course.
I am a full-time employee; can I be certified full-time as a student also in order to
receive federal funding?
No. Students cannot hold a dual full-time employee/full-time student status.
Can I receive my living expense funds before class starts so I can pay rent and purchase books and supplies?
University policy will prohibits any funds from being released to students until classes officially begin each semester.
Am I automatically awarded Federal Work-Study and/or Federal Perkins Loans because I applied?
Due to the high volume of applicants and limited budget; it is not guaranteed you will
be awarded Federal Work-Study or a Perkins Loan. These are need based funds and
those students who demonstrate the most need as determined by the FAFSA
information will be considered first.
