Dollar$ and $ense: October 2023
From Student Financial Services
Student Financial Services
2023-24 COA Increase Appeal Process – Now Open!
Student Financial Services has begun reviewing Cost of Attendance (COA) Increase appeals for the 2023-24 academic year. You can view the information about the appeal process, qualifying expenses that can be considered, and access the 2023-24 Cost of Attendance Increase Request form on our website. Please keep in mind these general reminders about the Cost of Attendance appeal process:
- You are not required to complete the COA Appeal Request Form if your expenses do not exceed the standard cost of attendance for your program.
- Be sure to include documentation, as missing or incomplete documentation may delay the review and decision of your appeal.
- Not all expenses will be reviewed with your appeal request. Unallowable expenses are listed on the Cost of Attendance Increase Request page (linked above)
- A determination with respect to your appeal will be sent to you via email within 10 business days
If you have any questions about this process, please contact our office at osfs-gms@bu.edu.
2024-2025 FAFSA Available December 1
If you plan on using Federal Direct Unsubsidized and/or Federal Graduate PLUS Loan funds during the 2024-2025 academic year (July 1, 2024 – June 30, 2025), you will need to complete the 2024-2025 FAFSA if you have not done so already. Please be aware that the 2024-2025 FAFSA will be available starting on December 1 as the Department of Education implements the new simplified FAFSA.
Federal Student Loan Repayment and Interest Rate Updates
The Department of Education’s student loan repayment pause and temporary 0% interest rates are ending – interest accrual resumed on September 1 and Federal loan repayment resumed on October 1. Interest will accrue on Federal loans at the original interest rate for each loan. 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.
Please be aware that while currently enrolled at least half-time you do not need to make payments on your student loans; however, interest has started to accrue on Federal loans. You can find a summary of your Federal student loans and interest rates by logging into the StudentAid.gov website.
Free Financial Wellness Resources
Financial Fitness 101: Building Your Financial Foundation Workshops
Financial Fitness 101 is offering 30 minute workshops that will introduce students to budgeting, understanding basic credit, managing living expenses, and provide tips, resources, and hints on ways to save money during college and improve your overall financial wellbeing. By attending and completing the workshop survey, you will receive a free succulent that you can then help grow along with you before and after graduation! Register on our website.
Sign Up for BUMC’s New Financial Knowledge Center, Kindros!
SFS is excited to announce the new Kindros financial knowledge center developed for BUMC students. This interactive platform covers everything from budgeting to retirement and includes readings, quizzes, planning tools, and additional resources. Check it out and let us know if there are features or content you would like to see!
AccessLex Financial Education Resources
SSFS 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.
Reduce Your Internet Bill
The Affordable Connectivity Program (ACP) can provide a discount of up to $30 per month towards internet service for students and families who may qualify. Those who currently receive SNAP benefits qualify for the ACP. Other eligibility requirements and the application can be found on the Affordable Connectivity Program (ACP) website.
Housing Resources
2023-2024 Housing Guide Survey
We are launching a short, anonymous survey to obtain information about current students’ housing experiences. This information will be included in a housing guide created by VeryApt, a startup in the real estate technology industry, and distributed to admitted students to help them locate housing that best suits their needs.
Students are asked to complete the following survey:
Graduate Medical Sciences – 2024 Housing Survey
Please take a few minutes to share your insights with the next generation of students. Let us know if you have any questions and thank you in advance for your participation.
Scholarship Opportunities
Check out our Scholarship Page for Other Opportunities
Our Scholarship page includes BU and BUMC specific scholarships, school-specific scholarships, various service-based scholarships such as the National Health Service Corps (NHSC) and Military Health Professions Scholarship Programs, and scholarship search sites.
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.