Systemic 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, system testing continues on, to ensure accurate delivery of all funds, be it 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 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 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 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 Other Loans<\/strong><\/p>\n If you received a BU-based loan, those funds would apply to your account when systematically possible. SFS will follow up with promissory notes, and other disclosure documents during the fall semester.<\/span><\/p>\n Updates on 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 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 (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 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 Refund Process<\/strong><\/p>\n Beginning Fall 2024, students are no longer required to submit a refund request<\/strong><\/span>. Any credit that is available on your Student Account Balance will be refunded to you at the start of the semester. Students must have set up a refund preference through Nelnet.\u00a0<\/span><\/span>If you wish to have SHIP covered by financial aid, you will also need to complete the \u201cFA_Override\u201d permission found under Financials > Student Permissions on <\/span>MyBU Student.<\/a><\/strong><\/em><\/p>\n *Instructions to set up\u00a0<\/span><\/span>electronic refund<\/span>\u00a0<\/span>here<\/a><\/strong>.<\/span><\/p>\n Living Expense Advances<\/strong><\/p>\n Due to the delay with the FAFSA application renewal, student financial aid may be delayed beyond the scheduled start date of the 2024-2025 academic year.<\/span> <\/span><\/p>\n In lieu of this delay, SFS is offering medical students M1- M4, GMS students, GMS Oral Health Sciences, GMS Physician Assistant Classes of 2026 & 2027, and all SPH programs advance loan funding to assist with student living expenses. GSDM dental students needing further funding please\u00a0<\/span><\/span>email: osfs-sdm@bu.edu<\/span><\/strong>.<\/span><\/p>\n In order to apply, students should have completed their FAFSA, submitted a credit- approved Grad PLUS application or private, credit-based loan to cover the remaining cost of attendance.<\/span><\/em> <\/span><\/p>\n Please fill out the\u00a0<\/span><\/span>Special Loan Request Form<\/strong><\/a>\u00a0<\/span>to apply for living expense advances.<\/span><\/p>\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 Financial Aid Updates<\/strong><\/p>\n Here’s is what is going on in the world of financial aid for the 2024-2025 academic year:<\/span> <\/span><\/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.<\/span> <\/span><\/p>\n If you are a student who would like to accept their federal loans, please be sure you have completed the federal loan requirements<\/span> <\/span><\/p>\n Entrance Counseling<\/a><\/p>\n Master Promissory Note<\/a><\/p>\n SHIP Confirmation Form<\/strong><\/p>\n BUMC students who plan\u00a0<\/span><\/span>to keep<\/span><\/strong>\u00a0<\/span>their Boston University Student Health <\/span>Insurance Plan (SHIP) for the\u00a0<\/span><\/span>2024-2025 year<\/span><\/strong>\u00a0<\/span>and who would like to <\/span>utilize financial aid to cover this expense should complete the\u00a0<\/span><\/span>SHIP Confirmation Form<\/strong><\/a>. <\/span> <\/span>If you are a federal loan borrower and would like <\/span>loans to apply directly to the SHIP fee, please also complete the Student <\/span>Permission Agreement under Financials\/Student Permissions <\/span>(FA_OVERRID) in the\u00a0<\/span><\/span>MyBU Student Portal<\/strong><\/a>.<\/span><\/p>\n To change<\/span><\/strong>\u00a0<\/span>your SHIP plan (between Plus and Basic), log into the <\/span><\/a>MyBU Student Portal<\/strong><\/a>. Under Student Health Insurance, select <\/span>\u201cChange Plan Level.\u201d<\/span><\/strong>\u00a0<\/span>You may also enroll your spouse or children in <\/span>SHIP through the MyBU Student Portal.<\/span><\/p>\n If you are\u00a0<\/span><\/span>NOT keeping SHIP<\/span><\/strong>\u00a0<\/span>and your current plan meets all of the <\/span>requirements on the comparable coverage checklist, you can\u00a0<\/span><\/span>access <\/span>the waiver through<\/span><\/strong>\u00a0<\/span>the MyBU Student Portal<\/strong><\/a><\/span><\/span>
\nLoans<\/strong><\/span><\/h4>\n
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