Dollar$ & $ense January 2025
January 2025
Systematic Delays
The delay in delivery of the 2024-2025 FAFSA, in conjunction with the implementation of the MyBU student services caused unexpected systematic delays, beyond the control of SFS and Boston University for the 2024-2025 academic year. Thanks to the collaborative efforts across Boston University, delays in the delivery of financial aid to students have been significantly reduced.
A small cohort of students may still experience unexpected delays in financial aid disbursals. Please contact Student Financial Services if you have any questions about individual components of your financial aid not disbursing as expected. We appreciate all your cooperation through the transition to the MyBU system in the last academic year and thank you for continued patience and partnership.
Exit Counseling for January Graduates
For students that borrowed federal loans and graduated after fall semester, you are required by federal regulations to complete a debt counseling session to review your rights, responsibilities, and repayment options when you graduate.
Please complete this requirement online on www.studentaid.gov. You will need your Federal FSA ID to complete this requirement. If you do not recall your FSA ID, instructions will be available at the login page. You can identify your loan servicer (entity that collects payments on loans) by going to the Federal Student Aid website (https://studentaid.gov) and logging in with your FSA ID.
Cost of Attendance Increase Requests
The Cost of Attendance (COA) increase appeal process allows Student Financial Services (SFS) to review additional educational expenses incurred during your period of enrollment. You must already be receiving financial aid up to your COA and your expenses must exceed the standard allowances for the academic year.
Pre-Requisite: All students must have needed to complete and submitted proof that they have completed Kindros Budgeting 101 at the time of submitting their appeal information.
Cost of Attendance (COA) Increase Request
Spring Refunds
Refunds are being reviewed and processed on a weekly basis by the Office of Student Financial Services and Student Accounting Services for Spring 2025. There are no additional forms needed to be filled out.
Loans
Graduate PLUS Loans
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.
Institutional Loan Recipient Information
BU Institutional Loan Information was sent via email to students that quality and received them in the past. The students need to complete the link provided in the email to express their interest in the loan and how they would like it to be applied to their account. Once the form is filled out, we will send students the BU Promissory Note. Once the Promissory Note is completed, the loan will be applied to the account. Entrance counseling will be required for first year students and students who have not received this loan previously.
Signed promissory notes should be submitted to Student Financial Services no later than February 15.
2025-2026 FAFSA Form
FAFSA for the 2025-2026 academic year is available and open! Students can apply here: https://studentaid.gov/h/apply-for-aid/fafsa.
Federal Unsubsidized Loans
Our Federal Student Loans page provides details of the annual maximum for the Federal Unsubsidized Loans, per your program, and year of study. If you are a new borrower of the Federal Unsubsidized loans, please make sure to complete the Entrance Counseling and Master Promissory Note at studentaid.gov.
Private Credit-Based Loans
If you applied and were approved for a private, credit-based loan, these loans will be certified and applied to your account when systematically possible. Confirm with your lender to ensure that you’ve completed all documentation to allow for the loan disbursement.
Financial Aid Updates
We have begun processing federal financial aid and updating bills to reflect it. Students should make sure to check their MyBU Student Portal to view and accept/decline their aid. If you are a student who would like to accept their federal loans, please be sure you have completed the federal loan requirements.
Entrance Counseling & Master Promissory Note
Spring Federal Work Study
For 2024-2025 Work Study funds, students who have completed their FAFSA should complete the Fall/Spring Federal Work Study Application and be approved for FWS before applying for a FWS position. (GMS/SPH students only)
If you have already received FWS for 24-25 you do not need to apply again.
SAVE Loan Repayment Plan
Our colleagues at the Student Loan Professor provided a comprehensive update about the status of the Federal SAVE Loan Repayment Plan.
Food Insecurities & Resources
The semester can get busy between classes, moving and the general day-to-day tasks. If you are experiencing food insecurity, we are here to provide some helpful resources!
Scholarships
Scholarships
Students who received BU-based scholarships in the 2023-2024 year will have those awards renewed and posted to your student accounts as applicable (if they have not already done so).
Students whose registration status changed from last year to this year or returning from a leave of absence, should contact Student Financial Services for detailed information about their financial aid.
New students’ scholarships are being applied, based on the information provided to you upon your acceptance to your program. However, if you received a scholarship, and it has yet to post, the scholarship will apply soon.
2025 Dr. Arturo Garzon Memorial Scholarship
This scholarship was established to honor the memory of Dr. Arturo Garzon, a dedicated Kaiser Permanente Sacramento Family Medicine Resident and UC Davis ACE-PC Graduate, by supporting future medical professionals who are committed to improving community and Latino/a/x health and mentoring others into health careers.
Eligibility: Current 3rd year medical students in good academic standing, expected to graduate in Spring 2026 and attending accredited allopathic, osteopathic, or podiatric medical schools.
Award Amount: $5,000 Deadline: January 31, 2025
Apply Here: Scholarship Application Website
Dr. Frank and Florence Marino Scholarship
The Dr. Frank and Florence Marino Scholarship is designated for 2nd, 3rd and 4th year medical students. The criteria for this scholarship are as follows: Male or female college graduate, who is in their 2nd, 3rd or 4th year* of medical school, who:
- has attended Connecticut public and/or parochial schools for at least eight years;
- has graduated from a Connecticut public or parochial high school; and
- who is attending, and is in good standing at, an A.M.A. (or similar status accrediting entity) accredited medical school located in the United States.
Instructions for the application can be found at: https://www.hfpgscholarships.org/.
Award amount: $1,500-2,000 | Deadline: February 4, 2025 11:59 PM
Gardiner Foundation $1.500 Scholarship
Scholarship Amount: $1,500 each to 4 or 5.
Students must meet the following requirements in order to qualify for these scholarships:
- Must have a 4 year high school transcript and Last Report Card
- A letter to The Gardiner Foundation stating why you should receive this scholarship (500 Word Max)
- Letter of Recommendation from Guidance Counselor, Dean or Principle
- Must have a college acceptance letter
- Be a NY resident
- Be able to attend the Gardiner Foundation event in St. James Park in late August
Please attach the items listed above and complete the application form.
Deadline: July 15. Award date: Late August and awarded at the Gardiner Foundation Basketball Classic in St. James Park.
Events
Kindros: Intro to Taxes (Zoom Workshop)
February 24, Monday | 5:00 pm – 6:15 pm EST
Kindros Tax Workshop: Confused about taxes and how they work? We’ve got you covered. Kindros is offering a free “Intro to Taxes” Zoom workshop for students. It will be held on Monday, February 24th at 5 pm. It will break down the basics and prepare you for tax season. Sign up using this link. Join
Please join Emma Crawford, Financial Planner, CFP®, as she breaks down the details of Public Service Loan Forgiveness (PSLF). She’ll discuss the program’s requirements, how to qualify, and how to begin making PSLF-qualifying payments as quickly as possible after graduating from medical school. Viewers will leave the webinar with clear and concrete action steps based on their specific circumstances.
Kindros
Kindros is BUMC’s online financial wellness platform which is free to the BUMC community! Learn about budgeting, earning and saving money, and how to plan for life’s big expenses.
Resources
Student Loan Professor (formerly Doctors Without Quarters)
Student Loan Professor (formerly Doctors Without Quarters) recorded in Spring 2024 a 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.
Association of American Medical Colleges
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.
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.
BU Medical Campus Housing Guide 2024
BUMC’s 2024 Housing Guide, built with reviews from current BUMC students, is now available! Find more info on neighborhoods, best values, and landlord/property ratings.
Questions? Speak with SFS!
Check out our website for ways to connect!
Contact:
Phone: 617-358-6550
Office: Robinson, B-401
Open: M-TH 10 AM – 1 PM; 2 PM – 4 PM (3-4 PM on Wed.)
Email:
Med: osfs-camed@bu.edu
SDM: osfs-sdm@bu.edu
GMS: osfs-gms@bu.edu
SPH: osfs-sph@bu.edu