Dollar$ & $ense: December 2023

December 2023

News to Know

2024-2025 FAFSA Release Delayed

The Department of Education recently announced that the 2024-2025 FAFSA will be released by December 31 as the Department of Education continues to implement the updated and simplified FAFSA.

This delay will not cause any issues with Spring 2024 financial aid but may impact when you can submit your FAFSA for the 2024-2025 academic year.

For more information on the simplified FAFSA for 2024-2025, please visit the Federal Student Aid site.

2024-2025 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 made available to all admitted and current students to help them locate housing that best suits their needs.

Students are asked to complete the following survey:

Please take a few minutes to share your insights with the next generation of students and your own classmates. Let us know if you have any questions and thank you in advance for your participation.

Boost your financial health on your own time with Kindros

SFS is excited to announce Kindros, the online 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 at 

Scholarship 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.

Financial Wellness Resources

In addition to our own financial knowledge center, Kindros, SFS works with some great organizations that provide students with all the info needed to succeed financially during and after school. Check out our Financial Wellness page for all the available resources.

Federal Student Loan Repayment and Interest Rate Updates

The Department of Education’s student loan repayment pause and temporary 0% interest rates have ended – interest accrual resumed on September 1 and Federal loan repayment resumed on October 1. Information and FAQs can be found on the Federal Student Aid website.

Please be aware that while currently enrolled at least half-time (generally 6 credits) 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 website.


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.

Spring Living Expense Refunds

Financial aid will first be applied toward the balance on your student account. Any excess funds will be left as a credit for you to request a refund by following these instructions . **Please note, SFS is unable to process refund requests before your first day of spring classes.

AAMC First

AAMC offers events created specifically to provide medical students with financial resources for your time during and after medical school. For a list of upcoming events you can visit the AAMC FIRST site.

AccessLex Financial Education Resources

AccessLex is a non-profit that offers free financial education resources to help students and recent grads manage their finances and loan repayment. Their webinar, The Road to Zero: A Strategic Approach to Student Loan Repayment, provides all the info needed to feel confident about loan repayment. You can also set up free 1:1 meetings with their Accredited Financial Counselors to discuss your specific financial situation and goals.

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.