Dollar$ and $ense: June 2022
Complete the 2022-2023 FAFSA today!
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. GMS students must also complete the online SFS Financial Aid Application.
New SFS Office Hours and Drop-In Sessions Starting June 6
Thanks to feedback from all of you, SFS and OHR has added another virtual drop-in session. Beginning June 6, in addition to our Monday, Wednesday, and Friday sessions, SFS staff will host a virtual drop-in session on Thursday from 12 PM – 2 PM.
Also beginning June 6 the SFS office will be closed for walk-in appointments from 1-2 PM. Students can utilize BUzz, our chatbot, and can still contact our office by phone, email, and scheduled virtual drop-in sessions.
Federal Student Loan Exit Counseling for Graduating Students
Graduating Federal Direct Loan borrowers must complete Federal Student Loan Exit Counseling. This can be done electronically at StudentAid.gov. If you have questions following your online Exit Counseling, you can contact 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.
Other SFS Reminders
Student Loan Relief Update
The Department of Education extension of the pandemic relief for federal student loan borrowers will end on August 31, 2022 (Extension announced in April). 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
AAMC Loan Repayment Strategies for You Webinar Recordings Available
SFS hosted Julie Fresne from the AAMC on April 12 and April 21 to present information to graduating students on managing student loans and how to determine which loan repayment option is best for you. Recordings for both sessions are available on our Presentations and Events page.
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.
Questions?
Speak with SFS!
We have Zoom virtual office hours available to all BUMC students on Monday, Wednesday, and Friday. 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. You can also reach us by phone at 617-358-6550.