Dollar$ and $ense: August 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.
Fall 2022 Bill Settlement
Payment Deadline
Please view the bill due date for the fall 2022 semester on the Student Accounting Services page. Some financial aid will not disburse until your first day of fall classes. You do not need to prepay tuition and fees if ample financial aid is secured by the bill deadline. If your pending financial aid covers your fall bill, you won’t incur any late fees or holds on your student account. Please visit the link provided or email studenta@bu.edu with any payment or billing questions unrelated to financial aid processing.
When Can I Request My Living Expenses Refund?
All financial aid (federal and private loans, scholarships, etc) will first be applied toward the balance on your student account. Any excess funds above tuition and fees will be left as a credit for you to request a refund by following the instructions provided by Student Accounting Services. Please note, SFS is unable to process refund requests before your first day of classes of the fall semester nor until all documents relating to your financial aid (i.e. entrance counseling and loan promissory notes) are received and reviewed. SFS is also unable to process refund requests until the balance has been paid, whether by financial aid or by out of pocket payment.
Loan Adjustments Request and Enrollment Changes (GMS)
If you need to adjust your financial aid award to reduce the amount of loans you wish to borrow or if your final enrollment plans have changed since your financial aid was applied please contact our office at osfs-gms@bu.edu and we will adjust your account. Please remember to include your name and BU ID in the email when communicating the change request. Please wait until charges for fall 2022 and financial aid have been posted on your student account, so that you can then be sure of the changes you are requesting.
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
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 throughout the week. 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. .