Dollar$ & $ense August 2024

August 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 posted throughout the upcoming weeks. Student Accounting Services is aware of these delays and is adjusting late payment fees as needed.

We thank you for your patience during this time of transition.

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.

First time PLUS borrowers and those who have borrowed with an endorser in the past should also complete a Master Promissory Note (MPN) for Direct PLUS Loans.

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 PLUS submissions must be made no later than 10 business days before the end of your summer program.

Information for New Federal Direct Loan Borrowers

First time borrowers at BU also need to complete the Master Promissory Note (MPN) for Subsidized and Unsubsidized Loans and Graduate/Professional Entrance Counseling.

Federal Student Loan Exit Counseling for Graduating Students

Graduating Federal Direct Loan borrowers must complete the Federal StudentLoan Exit Counseling. This can be done electronically at StudentAid.gov.

Students who received institutional loans will receive more information on completing exit counseling through ECSI.

SHIP Confirmation Form & Waiver

BUMC students who plan to keep their Boston University Student Health Insurance Plan (SHIP) for the 2024-2025 year and who would like to utilize financial aid to cover this expense should complete the SHIP Confirmation Form. If you are a federal loan borrower and would like loans to apply directly to the SHIP fee, please also complete the Student Permission Agreement under Financials/Student Permissions (FA_OVERRID) in the MyBU Student Portal.

• To change your SHIP plan (between Plus and Basic), log into the MyBU Student Portal. Under Student Health Insurance, select “Change Plan Level.” You may also enroll your spouse or children in SHIP through the MyBU Student Portal.
• If you are NOT keeping SHIP and your current plan meets all of the requirements on the comparable coverage checklist, you can access the waiver through the MyBU Student Portal. Under Student Health Insurance, select “Waive SHIP,” and then follow the steps to waive.

For more SHIP information including different plans and rates, please go
to the Student Health Services website.

Changes to the 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.

Work Study

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

Scholarships

2024-25 ADEA Scholarships, Awards and Fellowships

Opportunities for dental, allied dental and advanced dental educators and students – apply today.

ADEA recognizes achievement and distinction among its members through its annual Scholarships, Awards and Fellowships program. Funds awarded support leadership development, fellowships, teaching excellence and pursuit of academic careers by students.

Apply by Sept. 12, 2024. Awardees will be recognized during the 2025 ADEA Annual Session & Exhibition, March 8–11, 2025.

Armenian American Medical Society Scholarship

The AAMS awards scholarships annually to qualified Armenian students enrolled in a United States-accredited program in the fields of medical, pharmacy, dental, physician assistance, nursing, mental health, or other professional healthcare schools. Scholarship applicants must meet the following criteria:

• Be of Armenian descent or have a special interest in Armenian-related medical causes.
• Be actively involved in community service benefiting the health and well-being of our community.
• Submit a completed application package (link here), post marked by October 15, 2024

Value of the scholarship: $5,000 | Number of scholarships available: 10

Required college or university: Must be a United States-accredited program in the fields of medical, pharmacy, dental, physician assistant, nursing, mental health, or other professional healthcare schools.

Events

Crush Med School Debt: Federal Programs for Financing Your Future in Medicine

Resources

Kindros

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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