{"id":101011,"date":"2024-11-17T17:49:30","date_gmt":"2024-11-17T22:49:30","guid":{"rendered":"https:\/\/www.bumc.bu.edu\/gms\/?p=101011"},"modified":"2024-11-17T17:49:30","modified_gmt":"2024-11-17T22:49:30","slug":"dollar-ense-november-2024","status":"publish","type":"post","link":"https:\/\/www.bumc.bu.edu\/gms\/2024\/11\/17\/dollar-ense-november-2024\/","title":{"rendered":"Dollar$ & $ense November 2024"},"content":{"rendered":"

November 2024<\/a><\/h1>\n

Systematic Delays<\/strong><\/p>\n

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 even Boston University. Earlier in the summer, SFS provided estimated deliver dates of financial aid that were unfortunately not met. While those delays were out of SFS\u2019s purview, and were based off best faith information known at the time, nevertheless we sincerely apologize for any and all delays.<\/p>\n

Our staff, both at SFS and elsewhere at BU, are working hard to make sure that all students who anticipate financial aid for the 2024-2025 year will have their financial aid post to their accounts. Currently, SFS is working to ensure accurate delivery of all funds including federal unsubsidized loans, PLUS loans, private education loans or BU funding. Over the course of the fall semester, funding will be posted to student accounts, as it is available to do so. Your MyBU Student Portal will reflect those updates as they come, and SFS will notify you of the changes when they occur.<\/p>\n

We thank you for your patience during this time of transition.<\/strong><\/p>\n

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Cost of Attendance Increase Requests<\/strong><\/p>\n

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.<\/span><\/p>\n

Pre-Requisite:\u00a0<\/strong>All students must have needed to complete and submitted proof that they have completed Kindros Budgeting 101<\/strong><\/em><\/a> at the time of submitting their appeal information.<\/p>\n

Cost of Attendance (COA) Increase Request<\/strong><\/a><\/p>\n

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Financial Aid Updates<\/strong><\/p>\n

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.<\/p>\n

Entrance Counseling<\/a> & Master Promissory Note<\/a><\/strong><\/p>\n

With the continued delays of financial aid and system issues,\u00a0there will be no late fees or other penalties at the time<\/strong>. Further guidance will be provided but please note that failure to settle your balance by the end of the semester may result in registration holds. Those who are still awaiting financial aid however will not incur any holds if this is the case.<\/strong><\/a><\/p>\n

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Loans<\/strong><\/span><\/h4>\n

2025-2026 FAFSA Form<\/strong><\/p>\n

The 2025\u201326 Free Application for Federal Student Aid (FAFSA\u00ae) form is estimated to be available on\u00a0<\/span><\/span>December 2024.<\/span><\/strong><\/p>\n

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Federal Unsubsidized Loans<\/strong><\/p>\n

Our\u00a0<\/span><\/span>Federal Student Loans<\/a>\u00a0<\/span>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\u00a0<\/span><\/span>Entrance Counseling<\/a>\u00a0<\/span>and\u00a0<\/span><\/span>Master Promissory Note<\/a>\u00a0<\/span>at\u00a0<\/span><\/span>studentaid.gov<\/a>.<\/p>\n

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Graduate PLUS Loans<\/strong><\/p>\n

Beginning with the\u00a0<\/span><\/span>2024-2025<\/strong>\u00a0<\/span><\/span>academic year, students will apply for the\u00a0<\/span><\/span>Federal <\/span><\/strong>Graduate PLUS loan through StudentAid.gov<\/a><\/strong>.<\/span>\u00a0<\/span>The 2024-2025 Graduate PLUS loan application is\u00a0<\/span><\/span>now open<\/span><\/strong>. Detailed application instructions and an FAQ are available on the\u00a0<\/span><\/span>SFS website<\/a>.<\/span> <\/span>First time PLUS borrowers and those who have borrowed with an endorser in the past should also complete a<\/span>\u00a0<\/span><\/span>Master Promissory Note (MPN) for Direct PLUS Loans<\/a>.<\/span><\/p>\n

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Private Credit-Based Loans<\/strong><\/p>\n

If you applied and were approved for a\u00a0<\/span><\/span>private, credit-based loan,<\/a> these loans will be certified and applied to your account when systematically possible. Confirm with your lender to ensure that you\u2019ve completed all documentation to allow for the loan disbursement.<\/span><\/p>\n

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Institutional Loan Recipient Information<\/strong><\/p>\n

If you are receiving a BU loan this year, we have not yet sent out the promissory notes. We will be outreaching to those students during the semester to complete their documents. Please continue to check your email over the semester for that notice.<\/span><\/p>\n

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SAVE Loan Repayment Plan<\/strong><\/p>\n

Our colleagues at the Student Loan Professor provided a comprehensive update<\/strong><\/a> about the status of the Federal SAVE Loan Repayment Plan.<\/p>\n

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Scholarships<\/strong><\/p>\n

Students who received BU-<\/span>based scholarships in the <\/span>2023-2024 year will have <\/span>those awards renewed and <\/span>posted to your student <\/span>accounts as applicable (if they have not <\/span>already done so).<\/span> <\/span><\/p>\n

Students whose registration <\/span>status changed from last year <\/span>to this year or returning from a <\/span>leave of absence, should <\/span>contact Student Financial <\/span>Services for detailed <\/span>information about their <\/span>financial aid.<\/span><\/em><\/p>\n

New students\u2019 scholarships are <\/span>being applied, based on the <\/span>information provided to you <\/span>upon your acceptance to your <\/span>program. However, if you <\/span>received a scholarship, and it <\/span>has yet to post, the <\/span>scholarship will apply soon.<\/span><\/p>\n

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Work Study<\/strong><\/p>\n

For\u00a0<\/span><\/span>2024-2025 Work Study<\/span><\/strong>\u00a0<\/span>funds<\/span>,\u00a0<\/span><\/span>students should complete the <\/span>Fall\/Spring Federal Work Study Application<\/a><\/strong>. (<\/strong><\/span>GMS\/SPH students <\/span><\/span>only<\/span>)<\/span><\/strong><\/p>\n

Federal Work Study available for 24-25 is\u00a0in the process of being awarded<\/strong>.<\/p>\n

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Fall Refund<\/strong><\/p>\n

If your fall loans have disbursed to your account, you can receive your remaining full semester refund. The Student Accounting Services Office will be processing refunds automatically for those with federal funding. There are no additional forms needed to be complete in order to receive your refund.<\/span><\/p>\n

*Instructions to set up\u00a0<\/span><\/span>electronic refund<\/span>\u00a0<\/span>here<\/a><\/strong>.<\/span><\/p>\n

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Food Insecurities & Resources<\/strong><\/p>\n

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!<\/span><\/p>\n