Dollar$ and $ense: November 2022
Complete the 2022-2023 FAFSA today!
The 2023-2024 FASFA is available to complete 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. We recommend doing so by the priority deadline of February 1, 2023
2022-23 COA Increase Request Available
The Cost of Attendance (COA) increase process is ongoing for the 2022-23 academic year. You can view the information about the request process, qualifying expenses that can be considered, and access the 2022-23 Cost of Attendance Increase Request Form on our website. If you have any questions about this process, please contact our office at osfs-gms@bu.edu
Other SFS Reminders
SNAP Benefit Eligibility
For the duration of the COVID-19 Public Health Emergency, some graduate and professional college students who were not previously eligible may now receive SNAP benefits (Supplemental Nutrition Assistance Program). 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. If you need SFS to provide additional information, you may come by our office or email our office at osfs-gms@bu.edu.
The current Public Health Emergency and SNAP qualification exemptions are schedule to end January 11, 2023. Students who qualify for SNAP under the current exemptions may no longer qualify for recertification of SNAP benefits after the Public Health Emergency ends.
Student Loan Repayment Pause and Debt Relief
The Biden-Harris Administration and Federal Student Aid recently announced a one-time federal student loan debt forgiveness of up to $20,000 for qualified borrowers. For more information on the announcement and eligibility for loan forgiveness visit our website.
As part of the announcement the final extension to the loan repayment pause for federal student loan borrowers will end after December 31, 2022. The loan repayment pause, which began in March 2022, 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. .