Boston University Medical Campus
Student Financial Services

Loan Disbursements

RECEIVING LOAN DISBURSEMENTS A first-time Federal Direct Loan borrowers must have an Entrance Counseling session at SFS before disbursements will credit to the students’ accounts. If you are NOT receiving institutional assistance, you may complete the Entrance on the web using the Student Link at www.bu.edu/resources/. You must have a BU Login and a Kerberos password to use the Student Link. All students will be notified by mail when loan disbursement checks for other loans have been received and are available for signing and/or posting.

For private loan check signing, students may go to SFS on Tuesday, Wednesday or Thursday, 11:30 a.m. to 1:30 p.m. Students unable to visit SFS during those hours may contact Mr. Dan Low at (617) 638-4598 to schedule an appointment to meet him at the Boston University Financial and Business Affairs Office, 560 Harrison Avenue, Room #513. SFS publishes a list of standard disbursement dates. Students who expect to be out of town at the time of disbursement should write to Mr. Low to request that their loan checks be mailed to them. Mr. Low’s mailing address is: Boston University Financial and Business Affairs Office, 560 Harrison Avenue, Room #513, Boston, MA 02118.

IDENTIFICATION University policy requires that a student present their B.U. ID when endorsing checks, picking up checks, loan advances or credit release checks. A picture ID such as a driver’s license is also acceptable.

CHECK and LOAN ADVANCES Periodically, students will have funds delayed due to circumstances beyond their control. If a student has had their Federal Direct Loans certified by SFS and other loan applications approved by the lender, or if the student’s complete loan applications have been in our office for 30 days, the student may be eligible for a check or loan advance.

A check advance is used for quickly funding a short-term emergency. A check advance can be up to $700 at a time, but a student is eligible for only two advances per semester. The student must apply for the check advance in person at SFS. The student then goes to Student Accounting Services on the lower level at 881 Commonwealth Avenue where they will receive their check.

A loan advance is used when there is a need for an advance of more than $700. Typically, a loan advance is intended for one month of living expenses (between $1,000 and $1,500) or for unexpected costs associated with illness, unforeseen travel, or an emergency. The student must apply for a loan advance at SFS. A check will be generated in about three to five business days and mailed to the student. A student whose request is denied by SFS will be notified.

CREDIT RELEASES When your balance is paid in full and you have a credit remaining on your student account, you should apply for a credit release at SFS. Processing takes approximately 11 to 15 business days and cannot begin until you are officially registered. Be aware that once a credit release has been processed by our office and forwarded to Student Accounting Services, SFS is unable to process a check or loan advance. All credit releases should be forwarded directly to SFS instead of Student Accounting Services.

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