{"id":102441,"date":"2025-01-31T08:51:09","date_gmt":"2025-01-31T13:51:09","guid":{"rendered":"https:\/\/www.bumc.bu.edu\/gms\/?p=102441"},"modified":"2025-01-31T08:51:09","modified_gmt":"2025-01-31T13:51:09","slug":"dollar-ense-january-2025","status":"publish","type":"post","link":"https:\/\/www.bumc.bu.edu\/gms\/2025\/01\/31\/dollar-ense-january-2025\/","title":{"rendered":"Dollar$ & $ense January 2025"},"content":{"rendered":"

January 2025<\/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 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.<\/p>\n

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.<\/p>\n

\n

Exit Counseling for January Graduates<\/strong><\/p>\n

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.<\/p>\n

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<\/a>) and logging in with your FSA ID.<\/p>\n

\n

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

\n

Spring Refunds<\/strong><\/p>\n

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.<\/p>\n

\n

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

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

\n

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

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.<\/p>\n

Signed promissory notes should be submitted to Student Financial Services no later than February 15.<\/strong><\/p>\n

\n

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

FAFSA for the 2025-2026 academic year is available and open! Students can apply here: https:\/\/studentaid.gov\/h\/apply-for-aid\/fafsa<\/a>.<\/span><\/p>\n

\n

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

\n

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

\n

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

\n

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

For\u00a0<\/span><\/span>2024-2025 Work Study<\/span><\/strong>\u00a0<\/span>funds<\/span>,\u00a0<\/span><\/span>students who have completed their FAFSA <\/span>should complete the <\/span>Fall\/Spring Federal Work Study Application<\/a> <\/strong>and be approved for FWS before applying for a FWS position. (<\/strong><\/span>GMS\/SPH students <\/span><\/span>only<\/span>)<\/span><\/strong><\/p>\n

If you have already received FWS for 24-25 you do not need to apply again<\/u><\/b>.<\/u><\/p>\n

\n

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

\n

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