Dollar$ & $ense July 2024

July 2024

News to Know

2024-2025 FAFSA Update

Boston University has received 2024-2025 FAFSAs. As we navigate through the implementation of FAFSA Simplification and Boston University’s new student information system, we are writing to provide an update on the delays in awarding financial aid for the Fall 2024 semester.

Your fall bill may not include scholarship or aid awards when it is first posted in MyBU Student; generally, and in future semesters, your charges and financial aid should post around the same time.

Fall bills and financial aid will be updated by early August. Student Accounting Services is aware of these delays and is adjusting late payment fees as needed.

Additional FAQ’s can be found on the BU Graduate Education web page.

PLUS Loan Application

Beginning with the 2024-2025 academic year, students will apply for the Federal Graduate PLUS loan through StudentAid.gov. The 2024-2025 Graduate PLUS loan application is now open. Detailed application instructions and an FAQ are available on the SFS 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.

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

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We encourage summer loan borrowers to complete a Summer 2024 PLUS Loan request form to reduce possible delays with living expense refunds. Students interested should fill out the form at least 2 weeks before the end of summer.

For 2024-2025 Work Study funds, students should complete the Fall/Spring Federal Work Study Application. (open to GMS/SPH students only)

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.

*Instructions to set up electronic refund here.

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

Federal Student Loan Exit Counseling for Graduating Students

GSDM Student Life Fair

Kindros

Harvard Medical School Spring Financial Literacy Series

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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