Dollar$ and $ense – Financial Literacy

Dollar$ and $ense: May 2022

Complete the 2022-2023 FAFSA today! 

The 2022-2023 FAFSA is now open as of October 1st. If you plan on using Federal Direct Unsubsidized and/or Federal Graduate PLUS Loan funds during the 2022-2023 academic year (July 1, 2022 – June 30, 2023), you will need to complete the 2022-2023 FAFSA. While the priority deadline was February 1, 2022, we will continue to accept applications throughout the academic year. *SPH students must also complete the online SFS Financial Aid Application. **GMS students must also complete the online SFS Financial Aid Application. 

Federal Student Loan Exit Counseling for Graduating Students

Graduating Federal Direct Loan borrowers must complete Federal Student Loan Exit Counseling. This can be done electronically at StudentAid.gov. If you have questions following your online Exit Counseling, you can contact SFS.  

BUMC Virtual Housing Fair 

The Office of Housing Resources will be hosting a virtual housing fair on Thursday, May 26, from 12 pm to 2 pm. Students can meet with realtors and property managers, explore different housing options, and off-campus housing experts will be available to answer questions. Please complete the Housing Fair Registration Form to RSVP for the event. 

2021-22 Cost of Attendance Increase Appeal Deadlines (SDM only)

If you have borrowed up to the cost of attendance (COA) and are in need of additional loan funds for education expenses, please carefully review the COA appeal section of the Student Financial Services Website. To have your appeal reviewed by the financial aid committee, please submit the COA Appeal form and any supporting documentation. Supporting documentation may include a full copy of your lease and one month of utility bills. All submitted documentation must be organized and dated during your enrollment period. You can submit your complete COA appeal to osfs-sdm@bu.edu. When emailing please include your BU ID number. The deadline for 2021-2022 Cost of Attendance Increase appeals has passed for GMS, MED, and SPH students.

THE DEADLINES FOR SUBMITTING COST OF ATTENDANCE APPEALS FOR GSDM CLASSES WITH JUNE/JULY SEMESTER END DATES ARE: 

Post-Doc – May 15, 2022 

DMD/AS 1 – June 1, 2022 

DMD/AS 2 – June 1, 2022 

Summer Enrollment & Aid Application Process (GMS and SPH) 

Looking to borrow loans during the summer semesters? If you are enrolled in at least 6 credits for summer 1 and/or summer 2 or certified full-time and you wish to apply for federal loans, make sure you’ve submitted the 2022-23 FAFSA and the Summer Direct Loan application. If you need additional funds, you can submit the Summer Graduate PLUS Application. Otherwise, private credit-based student loans are also available. 

Student Loan Relief Update  

The Department of Education extension of the pandemic relief for federal student loan borrowers will end on August 31, 2022 (Extension announced in April). The student loan relief, which began in March 2020, includes temporary 0% interest rates, reprieve on loan payments, and paused collection of defaulted federal student loans. Further information and FAQs can be found on the Federal Student Aid website’s announcement on Coronavirus and Forbearance Info for Students, Borrowers, and Parents. 

Free Financial Wellness Resources 

AAMC Loan Repayment Strategies for You Webinar Recordings Available 

SFS hosted Julie Fresne from the AAMC on April 12 and April 21 to present information to graduating students on managing student loans and how to determine which loan repayment option is best for you. Recordings for both sessions are available on our Presentations and Events page. 

AccessLex Financial Education Resources 

SFS has partnered with AccessLex, a non-profit that offers free financial education programming and resources to help students and graduates manage their finances and loan repayment. We recommend you check out the recording of AccessLex’s webinar, The Road to Zero: A Strategic Approach to Student Loan Repayment. You can also set up a free 1:1 meeting with one of their Accredited Financial Counselors to discuss your specific loans and repayment strategies.   

Quick Survey! 

In order to provide the best level of service to our students we would appreciate your feedback by completing this short questionnaire: https://bostonu.qualtrics.com/jfe/form/SV_3ObzaNUVC3D7A2O 

Questions?

Come See SFS In-Person!
Stop by Student Financial Services in suite B-401 in the Robinson Building where you can meet with an SFS staff member in-person Monday through Friday. We will still maintain the Zoom virtual office hours. Each session is open to all students from BUSM, GMS, SDM or SPH. You can also reach us by phone at 617-358-6550.

Don’t forget BUzz the Chatbot

 24/7 Customer Service available on the SFS Website

Do you have general financial aid questions for which you need an immediate response? Visit the SFS website to meet and ask our Chatbot, BUzz, questions. BUzz can be found at the bottom of the website’s page.

 

Outside Financial Literacy Resources

Grad Sense, created by The Council of Graduate Schools, is a great resource tailored solely to graduate and professional student needs. Helpful tools provided by Grad Sense include budgeting, student loan repayment, and how to avoid financial pitfalls once you graduate.

MoneyGeek, founded financial industry veterans in finance and content marketing, is leading the charge to simplify personal finance. A myriad of financial concerns are addressed on the site, including financial planning, planning for college, student loan repayment, expenses associated with living in a big city, insurance, credit cards, mortgages, and more.

Specific resources are also available to address disparities in in the Hispanic/Latino communities