Dollar$ & $ense: June 2024

June 2024

News to Know

2024-2025 FAFSA Update

Boston University has received 2024-2025 FAFSAs. You can check if BU has received your FAFSA on MyBU Student under To Dos (a received FAFSA will show as “Completed”). Please note that due to the ongoing issues with FAFSA processing there will be a delay before students receive financial aid awards as BU ensures FAFSA data is accurate. Our office will notify students once financial aid is applied to accounts. Any tuition deadlines have been delayed to account for financial aid issues.

We encourage summer loan borrowers to complete a Summer 2024 PLUS Loan to reduce possible delays with living expense refunds.

Students who have started or will begin the 24-25 academic year soon will receive communication from SFS regarding alternative funding opportunities.

2024 – 2025 Graduate Federal PLUS Loan Update

Beginning with the 2024-2025 academic year, students will apply for the Federal Graduate PLUS loan through StudentAid.gov. Our office will update students throughout June and July regarding PLUS loan availability. Students will no longer complete a PDF PLUS loan request form through Student Financial Services. Once the PLUS loan is available, students should allow 10-15 business days for the PLUS loan to be processed after it has been submitted on the StudentAid website.

Summer 2024 students in SPH and GMS are encouraged to submit the PDF version of the PLUS loan request form found on the SFS website if interested in receiving summer Federal financial aid.

SPH & GMS Students – Enrolled in Summer Classes?

Looking to borrow loans for the summer semester?

• You must be enrolled in 6+ credits for summer 1 and/or summer 2 or certified full-time (for GMS students)
• Submit 23-24 and 24-25 FAFSA and the Summer Direct Loan application
• Only available to GMS and SPH students

Changes to the Living Expense Refund Process

Getting your living expense refund at the start of the academic year will be easier than ever! Beginning Fall 2024, students are no longer required to submit a refund request. Any credit that is available on your Student Account Balance will be refunded to you at the start of the semester. Students must have set up a refund preference through Nelnet. If you wish to have SHIP covered by financial aid, you will also need to complete the “FA_Override” permission found under Financials > Student Permissions on MyBU Student.

Federal Student Loan Exit Counseling for Graduating Students

Harvard Medical School Spring Financial Literacy Series

AccessLex Institute

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.

AAMC First Tools & Webinars for Medical Students

AAMC offers events created specifically to provide medical students with financial resources for your time during and after medical school.

Check out all upcoming and past recorded webinars on the FIRST Webinar page!

Students should also check out AAMC’s FIRST programs such as Money Management and Renting an Apartment.

Student Loan Professor

Student Loan Professor (formerly Doctors Without Quarters) recorded their April 8 webinar on Student Loan Best Practices for Medical School Grads. While this webinar was tailored to medical students there is valuable information for all BUMC graduates. Check out the recording.

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. You can also reach us by phone at 617-358-6550.

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