Dollar$ and $ense: April 2022
Complete the 2022-2023 FAFSA today!
The 2022-2023 FAFSA is now open as of October 1st. If you plan on using Federal Direct Unsubsidized and/or Federal Graduate PLUS Loan funds during the 2022-2023 academic year (July 1, 2022 – June 30, 2023), you will need to complete the 2022-2023 FAFSA. While the priority deadline was February 1, 2022, we will continue to accept applications throughout the academic year. GMS students must also complete the online SFS Financial Aid Application.
Federal Student Loan Exit Counseling for Graduating Students
Graduating Federal Direct Loan borrowers must complete the Federal Student Loan Exit Counseling. This can be done electronically at StudentAid.gov. If you have questions following your online Exit Counseling, you can schedule an individual appointment with SFS.
Summer Enrollment & Aid Application Process
Looking to borrow loans during the summer semesters? If you are enrolled in at least 6 credits for summer 1 and/or summer 2 or certified full-time and you wish to apply for federal loans, make sure you’ve submitted the 2022-23 FAFSA and the Summer Direct Loan application. If you need additional funds, you can submit the Summer Graduate PLUS Application. Otherwise, private credit-based student loans are also available.
SNAP Benefit Eligibility
Due to a change in federal law, some graduate college students not previously eligible may now be able to receive SNAP (Supplemental Nutrition Assistance Program) benefits. More information about this benefit change and how college students may be temporarily eligible for SNAP is available here. In some instances, you may be asked to have your financial aid office provide additional documentation, such as the Educational Income and Expense form. If you need SFS to complete this document, you may come by our office or email the form, with part A completed, to email@example.com.
Other SFS Reminders
Student Loan Relief Update
The Department of Education extension of the pandemic relief for federal student loan borrowers was recently extended to August 31, 2022. The student loan relief, which began in March 2020, includes temporary 0% interest rates, reprieve on loan payments, and paused collection of defaulted federal student loans. Further information and FAQs can be found on the Federal Student Aid website’s announcement on Coronavirus and Forbearance Info for Students, Borrowers, and Parents.
Free Financial Wellness Resources
Loan Repayment Strategies for You Webinar
Student Financial Services will host a webinar with Julie Gilbert from the AAMC on Thursday, April 21st at 5 PM ET. The session will give valuable information about how to manage your student loan debt and determine which repayment strategy is right for you. Attendance is strongly recommended for the Class of 2022. Registration is required. After registering, you will receive a confirmation email containing information about joining the webinar.
AccessLex Financial Education Resources
SFS has partnered with AccessLex, a non-profit that offers free financial education programming and resources to help students and graduates manage their finances and loan repayment. We recommend you check out the recording of AccessLex’s webinar, The Road to Zero: A Strategic Approach to Student Loan Repayment. You can also set up a free 1:1 meeting with one of their Accredited Financial Counselors to discuss your specific loans and repayment strategies.
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Speak with SFS!
Stop by Student Financial Services in suite B-401 in the Robinson Building where you can meet with an SFS staff member in-person Monday through Friday. We will still maintain the Zoom virtual office hours. Each session is open to all students from BUSM, GMS, SDM or SPH. You can also reach us by phone at 617-358-6550.