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
Is financial aid available?
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?
What are the four steps for applying for a Federal Direct Stafford Loan?
- Complete the Free Application for Federal Student Aid (FAFSA)
- Complete and fax forms to the Metropolitan College Graduate Financial Aid office at 617-353-4190:
Loan Request Form for the 2014 summer semester: To be completed for financial aid for the summer semester (Summer 1 and Summer 2 are considered a single summer term)
Loan Request Form for Fall 2014/Spring 2015: 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.
- Complete Entrance Counseling
- Complete the Promissory Note
What are the available types of federal financial aid?
The Federal Direct Stafford Loan is a low-interest loan available to Metropolitan College graduate students—whether classroom-based or studying online. Note: As of July 1, 2012, graduate and professional students are no longer eligible to receive Federal Direct Subsidized Loans, per the Budget Control Act (BCA) of 2011. Unsubsidized loans continue to be available even to those who do not qualify for need-based financial aid. 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?
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?
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?
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 firstname.lastname@example.org or phone 617-358-3993 if you would like to pick up your check in person.
What if I’m in the military or have veteran’s benefits?
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.