Frequently Asked Questions

Here is a list of FAQ about graduate financial aid at Metropolitan College. To learn more, please contact us:

Boston University Metropolitan College Graduate Financial Aid
755 Commonwealth Avenue
Boston, MA 02215

Phone: 617-358-3993
Fax: 617-353-4190
finanaid@bu.edu

Is financial aid available?

Yes. Financial aid is available to qualifying Metropolitan College graduate degree students in the form of assistantships, the Federal Direct Stafford Loan, and the Graduate PLUS Loan.

How do I know if I qualify for financial aid?

Metropolitan College graduate students are encouraged to submit the Free Application for Federal Student Aid (FAFSA), which determines eligibility for federal loan programs. To qualify, you must be a U.S. citizen or permanent resident, have been accepted into a degree program, and plan to attend at least half-time (six or more credit hours) each semester. Please check each loan for specific eligibility requirements.

What if I do not qualify for a federal loan?

Private loans are available to those who do not qualify for a Federal Direct Stafford Loan or Graduate PLUS Loan.

What are the four steps for applying for a Federal Direct Stafford Loan?

  1. Complete the Free Application for Federal Student Aid (FAFSA)
  2. Complete and fax forms to the Metropolitan College Graduate Financial Aid office at 617-353-4190:
    Loan Request Form for Graduate Stafford Loan 2014–15: You can use this form to request a loan for both the fall and spring semesters, or to request a loan for just the fall or spring.
  3. Complete Entrance Counseling
  4. Complete the Promissory Note

What are the available types of federal financial aid?

The Federal Direct Stafford Loan is a low-interest loan unsubsidized available to Metropolitan College graduate students—whether classroom-based or studying online. Interest will accrue and must be paid or capitalized during periods of in-school enrollment and/or deferment.

The Graduate PLUS Loan is also a federally sponsored loan for students attending graduate school. Students should apply for a Federal Direct Stafford Loan prior to requesting a Graduate Plus Loan.

How much can I borrow with a Federal Direct Stafford Loan?

Graduate students can borrow up to $20,500 unsubsidized per academic year. Interest will accrue, and must be paid or capitalized during periods of in-school enrollment and/or deferment.

Is financial aid available for the summer?

Yes. Please note that different Federal Direct Stafford Loan and Graduate PLUS Loan request forms are required for the summer semester. When these seasonal forms are available, they will be found on our Links & Documents page.

Can I apply for a Federal Direct Stafford Loan if I’m enrolled in only one course (four credit hours) this semester?

In order to qualify for a Federal Direct Stafford Loan, you must be enrolled at least half-time per semester (six or more credit hours). Private and non-federal loan programs are available for students attending less than half-time.

Can I apply for a Federal Direct Stafford Loan if I’m taking classes while I’m waiting to hear if I’ve been accepted into a graduate program?

You must be a degree candidate to qualify for a Federal Direct Stafford Loan. Email the Metropolitan College Graduate Financial Aid office at finanaid@bu.edu to request more information about private, non-federal loan programs for nondegree students.

What are my options if I’m not interested in a Metropolitan College graduate degree or certificate but I would like to enroll in a course?

You must be a degree candidate to qualify for a Federal Direct Stafford Loan. However, private loans are available for those who do not qualify for a federal loan.

Are certificate program students eligible for financial aid?

No. Only students enrolled in a degree program are eligible for financial aid. However, private loans are available for those who do not qualify for a federal loan.

What happens if I withdraw from a class?

If you withdraw from a class and fall below 6 credits per semester, you will lose your federal loan. Note that private loans are available to those who do not qualify for a federal loan. Please speak to a financial aid advisor at finanaid@bu.edu regarding your specific financial situation.

How do I request a refund?

For federal loans, refunds are distributed automatically after the disbursement of the loan. Once the student’s account is settled, a check with the refunded amount will be mailed to the student.

Another option available to students is the online refund request.

Please contact our office via email at finanaid@bu.edu or phone 617-358-4072 if you would like to pick up your check in person.

What if I’m in the military or have veteran’s benefits?

Tuition Assistance Vouchers should be faxed directly to Student Accounting Services at 617-353-3313. Contact Veterans Services at 617-353-3678 or veterans@bu.edu for more information.

Are monthly payment plans available?

To learn more about Deferred Payment Plans for part-time students, visit Student Accounting Services.

How do I defer repayment of my previous student loans while I’m in school?

Contact your loan servicer and request the In-School Deferment Form.  To find contact information for your loan servicer, log onto the NSLDS web site.  Fax the completed form to the Office of the University Registrar at 617-358-2171.

To obtain loan deferment request forms for any private, supplemental loans (i.e., Sallie Mae Signature or CitiAssist), contact the agency or lender directly. Once received and completed, fax the forms to the University Registrar at 617-358-2171.

Do I have to pay taxes on scholarship or fellowship money I receive?

You may have to pay taxes on scholarships or fellowships you receive. Please visit our Important Tax Filing Information page for more information, or go to IRS.gov and view Tax Benefits for Education.

What is satisfactory academic progress?


Satisfactory academic progress (SAP) is one of the criteria that a student must meet in order to remain eligible for financial assistance. SAP is made up of the following factors:

  1. Minimum cumulative Grade Point Average (GPA)
    Students are required to maintain a minimum 3.0 cumulative GPA throughout the MET Master’s degree program to maintain financial aid eligibility and good academic standing.
  2. Minimum completion percentage
    The minimum completion percentage is the percentage of attempted courses that a student must complete during enrollment to maintain financial aid eligibility. For MET graduate degree programs at Boston University, students must complete at least 75% of the courses they attempt to remain eligible for aid.

Students who do not meet either or both of the above factors comprising Satisfactory Academic Progress (SAP) are not eligible to receive federal financial aid, including student loans. A student who is not meeting SAP is permitted to apply for aid but must also submit an explanatory, compelling letter of appeal to MET Graduate Financial Assistance in order to have the aid application considered. Contact MET Graduate Financial Assistance at 617-358-4072 or finanaid@bu.edu for information and instructions regarding the SAP appeal process.