Dollar$ & $ense: August 2025

Dollar$ & $ense: August 2025

Aid Awarding Timelines and Updates

Future Federal Student Aid Updates

On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was signed into law,
creating significant changes to access to federal financial aid programs.

Borrowers of Federal Direct Loans (Unsubsidized and/or Graduate PLUS) before
June 30, 2026 will be entitled to borrow loans at the current borrowing levels
(both annual and lifetime) for up to three years.

Further detailed information on SFS website and in the monthly Dollar$ and
$ense newsletter.

Aid Awarding Timeline

Our office continues to process financial aid daily for all student populations at BUMC. You can expect your aid to be reflected on your MyBU Portal closer to your expected disbursement date, which aligns with your payment deadline. If your aid is not posted by the deadline but we have confirmation of anticipated funds, you will not incur any late fees or registration holds. Additionally, you may be eligible for a living expense advance at the start of the semester.

SFS will notify each cohort when the advance request forms become available. If you’ve already completed all federal loan requirements, no further action is needed at this time.

Loan Advances for Living Expenses

Students will be eligible to receive their full available fall 2025 credit as
long as they have completed all loan requirements, see page 3 for
requirements.

We are currently experiencing disbursement delays for financial aid.
Questions about disbursement can be directed to Student Accounting
Services, for those in need of aid for living expenses you may complete
the form below respective to your program.

An advance is used for 2025-2026 academic year to help fund living
expenses while fall 2025 and summer 2025 aid processes and disburses.

Requests for living expenses funding will be released AFTER the first day of your program’s start. Federal regulations prohibit Boston University from releasing any refunds from federal sources before your program begins instruction.

Dental Students

• Special Advance Loan Request for Living Expenses

Chobanian and Avedisian Schol of Medicine

• Living Expense Form

School of Public Health

• Living Expense Form

Graduate Medical Sciences

• Living Expense Form

*please note that the CAMED Student Loan Living Expense Request is used for the 2025-26 academic year for CAMED, GMS, SPH and Online SPH

25-26 FAFSA & Private Loan Steps

FAFSA Process

In order for our office to review and process federal financial aid a student must complete the
below steps:

1. Submit the 2025-2026 FAFSA application (there is a separate PLUS Loan application, the BU school code is 002130)
2. Complete the Master Promissory Note (separate for Direct Unsubsidized Loan and Grad PLUS Loan)
3. Complete the Entrance Counseling (separate for Direct Unsubsidized Loan and Grad PLUS Loan)
4. Update your SSN with our office, complete an SSN Reporting Form or call (617) 358-6550

Private Loan Process

In order SFS to review and process private loan financial aid a student must complete the below steps:

1. Submit a completed application to your preferred lender
2. Confirm with your lender that all necessary steps have been completed to allow for loan certification
3. Sign any applicable documentation, promissory notes, and disclosures required by lender

While you may receive confirmation from your loan lender you are welcome to contact our office to confirm.

The completion of the above steps enables SFS staff to move forward with reviewing and approving/certifying your aid. Our office will reach out if we need anything else, otherwise completing the above steps are sufficient.

Refunds/Setting up Direct Deposit

Direct Deposits and Refunds

If you anticipate a refund for living expenses in the 25-26 school
year, please be sure to set up direct deposit using the directions
on Student Accounting’s website here. The refund processing time
takes roughly 5-7 business days.

Please keep in mind that you will receive your living expense funds
once all of your financial aid has disbursed for each semester,
which is estimated to be within the first week or so of the
semester. For any further questions about this process, please
contact Student Accounting Services.

Navigate to your MyBU Portal. Click “Financials”, “Student Account
Balance Due”, “Nelnet Payment & Payment Plans”. Then select
“Manage Refunds” and enter your bank account information.
Further instructions and information can be found on Student
Accounting’s webpage here.

Bill Settlement Deadlines

As fall approaches, please be sure you have your aid and payment
plans figured out and view the upcoming bill settlement deadlines.

Summer Aid

As we are nearing the end of the summer semester, students
should contact SFS for any final summer aid questions and
adjustments and about summer refunds.

GMS/SPH Summer Aid

Complete the summer direct loan application, 25/26 FASFA and
if applying for a summer PLUS loan – select summer dates on the
25/26 PLUS application.

Any students taking summer classes, please be advised that any
Federal Direct Unsubsidized Loans you receive in Summer 2025
may reduce you 2025-2026 academic year eligibility, dollar for
dollar.

SPH Summer Tuition Merit Scholarship Form

Please fill out the SPH Summer 2025 Registration Notification
form if you are a current SPH student and receive a form of an
SPH scholarship and are enrolled in or recently changed
summer courses. Our office will review your eligibility within 10
business days.

Please note scholarship eligibility may be limited due to the
total lifetime limit for your scholarship as noted on your original
award letter.

Student Health Insurance Plan Waiver/Aid Use

SHIP Confirmation Form

BUMC students who plan to keep their Boston University Student Health Insurance Plan (SHIP) for the 2025-2026 year and would like to utilize financial aid to cover this expense should complete this SHIP Confirmation Form.

Any student interested in using financial aid to cover their SHIP cost may fill out this form, regardless of if you are enrolling for the 1st time or keeping your SHIP coverage.

Please wait to fill out the form until you are sure of the plan you want.

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

GSDM students can view SHIP information and rates for 2025-2026, including for dependent coverage here.

Waiving SHIP Coverage

If you decide SHIP is not for you, you may be able to waive coverage by September 20th. International students may only waive coverage if they are enrolled in a plan underwritten in the US that meets the comparable coverage requirements, although all students should review the comparable coverage requirements. Students are not eligible to waive SHIP based on travel insurance plans. The SHIP waiver will become available after your fall bill is generated by Student Accounting Services. You can access the waiver through your MyBU portal by selecting “Student Health Insurance” from the left menu, then choosing “Waive SHIP”.

During the process you will be redirected to the website of Gallagher Student Health & Special Risk, to complete your waiver. If your waiver is approved, the credit will be applied to the student account within 1-2 business days. Please contact Student Health Services with questions. SFS does not handle SHIP waivers.

Federal Loan Exit Counseling & Loan Simulator

Federal Loan Exit Counseling Reminder

For all students that borrowed federal loans and are graduating at the end of spring 2025 or summer 2025, 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 at https://studentaid.gov/exit-counseling/. 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 and logging in with you FSA ID.

Financial Next Steps for Graduates: Loan Simulator Available

Recent graduates are encouraged to use the Loan Simulator Tool on
StudentAid.gov to explore federal student loan repayment options and estimate
monthly payments. This tool allows you to compare different repayment plans
based on your loan balance, income, and family size. The simulator can help you
choose the best repayment plan for your financial situation. It’s especially helpful
to use the simulator before your 6-month grace period ends, so you can prepare
and plan your repayment strategy with confidence.

MSR Grants and Permission Forms, SAVE Loan Repayment Plan, and Federal Work Study

MSR Grants

Students living in the Medical School Residence receiving grants who do not yet see their MSR 25-26 aid in their BU portal can email osfs-camed@bu.edu.

Student Permission Forms

If you are planning on utilizing federal financial aid to cover your University billed expenses, including any balance incurred by the issuance of living expense advances, you will need to complete the Student Permissions Form found on your student portal (if it has not been previously completed). This form is found under “My Bill & Aid” > “Financials” > “Student Permissions”. This permission allows your aid to cover all outstanding charges on your account.

Why is this form required?

Federal regulations require that Title IV funds credited to your student account be applied only to cover allowable charges, unless Boston University obtains authorization to apply these funds to all other charges on your student account. Title IV Federal Aid Funds include Federal Direct Loan and Graduate PLUS Loans. Allowable charges under Title IV funds include tuition and mandatory fees.

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.

Federal Work Study

For those (GMS/SPH students only) interested in 2025-2026 federal work study (FWS) funds, please ensure you have filled out a 2025-2026 FAFSA. Then complete the Federal Work Study Application. You must be approved for FWS before applying for a FWS position.

General Loan Information

Graduate PLUS Loans

Beginning with the 2025-2026 academic year,
students will apply for the Federal Graduate
PLUS loan through StudentAid.gov. The
2025-2026 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 qualify and
received them in the past. The students
need to complete the link provided in the
email to express 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.

2025-26 FAFSA

FAFSA for the 2025-2026
academic year is available and
open! Students can apply here:
www.studentaid.gov

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.

Visit 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.

Scholarships

CAMED Scholarships

CAMED students with need-based scholarships: some students may have been
selected to receive a donor-sponsored scholarship, based on meeting certain
restrictions from the donor. These scholarships will replace the general need-
based scholarship dollar for dollar. Students may be requested by the CAMED
Development Office to submit a thank-you letter to the donor/agency.

Gardiner Foundation $1500 Scholarship

Scholarship Amount: $1,500 each to 4 or 5 students.

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 Principal

• 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 attached 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.

Banyan Next Generation Healers Scholarship

$1,000 Scholarship that supports students pursuing careers in healthcare,
including medicine, mental health, addiction treatment, clinical care, and social
work.

To apply for the Banyan Treatment Centers Scholarship for Working Students, you
must:

• Be currently enrolled in a degree program in nursing, social work, psychology,
  healthcare administration, or any related field.

• be enrolled in the Spring Semester 2026 to receive funds.

• Be a working student, meaning you are currently employed while pursuing
  your degree.

• Have a strong commitment to a career in healthcare or wellness.

Please see here for scholarship information.

Award Amount: $1,000

Application Deadline: December 2, 2025

Armenian American Medical Society Scholarship

The Armenian American Medical Society is now accepting scholarship
applications for the 2025-2026 academic year! Application here

The AAMS awards scholarships annually to qualified Armenian students enrolled
in a United States-accredited program in the fields of medical, pharmacy, dental,
physician assistant, nursing, mental health, or other professional healthcare
schools.

Deadline: through September 7, 2025, at 11:59 pm PST

Scholarship Amount: $5,000 scholarships to outstanding students who
demonstrate academic excellence, professional promise, or a strong commitment
to community service.

Housing & Other Resources

AAMC First

AAMC FIRST events provide
medical students with financial
resources for your time during and
after medical school. This month’s
FIRST webinar: Home Purchasing

• 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.

BUMC Off-Campus Housing Resources

BUMC’s 2025 Housing Guide, built with reviews from current BUMC
students, is now available! Find more info on neighborhoods, best values,
and landlord/property ratings.

Changes to Broker/Agency Fees

Effective August 1, 2025

What’s Changing?

Starting August 1, 2025, Massachusetts law mandates that only the party who
hires the broker—either the landlord or the tenant—must pay the broker fee.
This means:

1. If a landlord hires the broker, the tenant does not pay the fee.

2. If a tenant initiates contact with a broker and signs a disclosure, they may
   be liable for the fee, even if it’s verbal or informal.

✅ Important: How to Protect Yourself

• Ask Upfront: “Are you a broker?” “Who hired you for this listing?” “Will the
  renter be expected to pay a broker fee?”

• Request Written Fee Disclosures: Always ask for a written agreement that
  outlines who pays the fee. Don’t rely on verbal assurances; verbal
  engagement can still trigger liability.

• Read Everything Carefully: Review all paperwork before signing or attending
  showings. Look for terms like “exclusive representation” or “designated
  agency.”

• Walk Away If Unsure: If the terms aren’t clear or you’re uncomfortable, don’t
  proceed.

• Choose Trusted Brokers: If you want to hire an agent to assist in your search,
  visit the Off-Campus Services Agent/Broker Page for a list of options. Not all
  agencies charge broker fees.

⚠️ Warning: Things to Avoid

• Open Houses: Attending without clarifying broker engagement may result in
  fee liability. Don’t sign in for the event without understanding fee
  responsibility.

• Emails, Calls, or Texts: Initiating contact with a broker can be interpreted as
  hiring them.

• Assumptions: Don’t assume “no fee” just because it wasn’t mentioned.
  Always ask and confirm.

Food Resources

Life 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!
BU Food Pantry
Resources to Support Food Needs
Food Insecurity Resources

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