Boston University Medical Campus
Student Financial Services

THE AWARD DECISION

THE AWARD DECISION

OUTSTANDING OBLIGATIONS TO OTHER INSTITUTIONS

If you are in default on a student loan from another institution or if you owe tuition to another university or college, you will NOT be eligible for BUSDM assistance regardless of payment arrangements made with the other institution.

PACKAGING AND SOURCES OF FINANCIAL ASSISTANCE

BUSDM Applications for Financial Assistance are due by 5:00 p.m. April 16, 2010 or within 45 days of admission, whichever is later.

Students who apply for institutional assistance prior to the deadline(s) are considered for all programs for which they are eligible. Institutional funds are limited and OSFS does its best to allocate them equitably. However, because of the difficulty of getting full and meaningful disclosure of parental financial information, Health Professions Student Loans (HPSL) and scholarships are not awarded to students whose families do not reside in the U.S.

NOTIFICATION OF AWARD DECISION

Financial assistance decisions for students with complete applications will be announced between May and June after student budgets are set and funds assured for the academic year. You will be notified by email as soon as a decision is made, but most students will qualify for no more than $4,000 of institutional assistance. Applications received after the deadline will be considered for reduced institutional assistance if funds remain.

Since it is assumed that you will apply for Federal Direct Loans and credit-based loans, you should begin this process before you receive an award letter.

APPEALS

Students appealing their financial aid package should speak to an Office of Student Financial Services (OSFS) staff member within 30 days of the institutional award notification date.

If the issue is unable to be resolved to the student’s expectations at the meeting, within 14 days of the meeting the student may submit a typewritten letter of appeal addressed to the Financial Aid Committee, c/o Ms. Kathy R. Stavropoulos, Executive Director, 72 East Concord Street, Room A303, Boston, MA 02118. The letter should explain the circumstances of the appeal and include any documentation necessary to support the claim for the appeal. The Financial Aid Committee, which serves as a policy-making and advisory body to the Executive Director, will consider the merits of the appeal, and provide the student with a written response.

Subsequently, the student may re-appeal that decision within 14 days of the date of Financial Aid Committee letter by presenting new evidence or requesting to appear before the Committee.

ADJUSTMENTS IN ASSISTANCE PACKAGES

OSFS reserves the right to make adjustments in a student’s package when the student’s support from all sources exceeds need; when institutional resources change; or when circumstances, such as number of family members in college, change. Federal program regulations require a reduction in financial assistance when a student’s support from all sources exceeds financial need. Private loan programs require a reduction in eligibility when all sources of financial assistance exceed the Cost of Attendance (COA).

TUITION DEPOSITS

BUSDM requires a non-refundable deposit from newly accepted students to confirm their enrollment plans: Postdoctoral students submit $3,000 within two weeks of acceptance; Advanced Standing students submit $3,000 (time period varies); DMDs submit an initial deposit of $2,000 within 15-30 days of acceptance (as outlined in the individual acceptance letter) and a subsequent deposit of $1,000 (time period varies). All deposits are applied toward the first year’s cost.

Students with questions about the tuition deposit policy should contact the School of Dental Medicine Office of Admissions directly at (617) 638-4787.

If you are making your deposit and commitment in anticipation of receiving sufficient financial assistance to pay the cost of your education, OSFS encourages you to read this information thoroughly. You should know what resources are available to you as well as the criteria for accessing those resources. If you will need to borrow heavily, you should read the section on creditworthiness carefully. If you are not creditworthy, you should call OSFS to talk with a financial aid professional about the advisability of starting dental school.