SFS Updates and Special Advance for Living Expenses
A message from Student Financial Services regarding updates and special advances for living expenses:
Hello Graduate Medical Sciences Students,
We hope you’re well. We wanted to share information with you about the process to request living expenses for the start of your academic year. As you are likely aware, the U.S. Department of Education delayed the delivery of the 2024-2025 FAFSA. Because of this issue and our transition to MyBU Student, financial aid awards have been subsequently delayed for both federal and private loan borrowers.
Many of you rely on financial aid to cover your out of pocket living expenses. To ensure that there are no financial shortcomings due to this delay, students can request $4,000 in a loan advance to help cover initial out-of-pocket living expenses.
- Students requesting an advance must complete the Special Advance Loan Request Form for Living Expenses
- Federal loan borrowers should have already completed the 2024-2025 FAFSA on studentaid.gov.
- Private loan borrowers should have already submitted your private loan application and received credit approval from your lender. SFS will certify private loans in the coming weeks.
- Please be sure to add or update your Direct Deposit information in MyBU Student, under Financials/Student Account Balance: Nelnet Payments & Refunds. You do not need to submit a separate refund request, as Student Accounting Services is directly processing refunds. Refunds will be sent to your personal bank account within 10 business days of the start of the semester (8/5).
This advance is not a separate loan from your usual financial aid. It is an advance on your standard funding. SFS will email students later with updates and instructions regarding 2024-2025 federal financial aid, however if you are planning on using a Graduate PLUS Loan for the 2024-2025 year, we recommend completing and submitting a Graduate PLUS Loan Application.
For more information regarding the delays and system updates, please refer to the email from our office issued 8/16.
If you have any additional questions, please contact our office. We look forward to assisting you.
Sincerely,
Student Financial Services & Housing Resources
Boston University Medical Campus