Frequently Asked Questions
What forms other than FAFSA are required to apply for financial aid?
In addition to the FAFSA, you submit a Sargent College Graduate Application for Financial Assistance (available in our forms library). Documents are due by April 1. Students should give permission on the FAFSA for application data to be sent to Boston University; our federal school code number is 002130.
How do I apply for merit scholarship?
All graduate admissions applications are reviewed for merit scholarship by the program admissions committees. Notification of merit scholarship award is received in your letter of acceptance. If merit scholarship is awarded, it is not necessary to submit tax returns with financial aid documents.
Do I include parent information on the FAFSA?
A graduate student is independent for federal financial aid purposes. Parent information is not submitted on the Free Application for Federal Student Aid (FAFSA).
Submitting a FAFSA determines need and eligibility for federal financial aid.
First-time BU Federal Direct Unsubsidized Loan loan borrowers must fulfill an ENTRANCE INTERVIEW requirement. Complete online: https://studentloans.gov/myDirectLoan/index.action
Once you have requested a Federal Direct Unsubsidized Loan and submitted all required documents, a Master Promissory Note must be completed; you can go online to fulfill this requirement.
Keep your FSA ID in a secure accessible area because you will need your FSA ID to renew your FAFSA.
As a part-time student, am I eligible to receive Federal Direct Unsubsidized Loans?
If you are enrolled in a degree program and registered for a minimum of 6 credits, you may apply for Direct Unsubsidized loans. You must also submit a current FAFSA and meet the basic eligibility criteria for federal aid.
Students on required Clinical Affiliations for certain degree programs will be certified as full-time in order to be eligible for Federal Direct Unsubsidized Loans to cover living expenses.
Once a student drops to less than part-time (under 6 credits), they must contact their federal loan servicer at 800-848-0979 to inform them of their status.
What type of financial aid is available for the summer semester?
If you are enrolled in a degree program and registered for 6 or more credits during the summer semester, you may request Summer Direct Unsubsidized Loans for Graduate Students. It is necessary to submit a “Summer Direct Loan Request for Graduate Students” form (available in our forms library), which is available online at the end of March. To be considered for federal aid, you must submit a FAFSA for the upcoming academic year and complete your summer registration before submitting the request form.
If additional funds are necessary, the summer Graduate Plus loan is also an option.
What are alternative loans?
Alternative loans are private (non-federal) loans. Specific terms and eligibility requirements will vary.
You (and your co-borrower, if applicable) should carefully research the options and apply for the alternative loan that best suits your needs. Keep in mind that usually your best option is to pursue federal loans; be sure to apply for eligible federal loans (Direct Unsubsidized) before considering a private loan. If you decide to apply for a private educational loan, you must provide all documentation requested by the lender of the loan and follow their application instructions. You will apply for the loan directly on the lender’s website.
When will I receive my loan refund?
Loan refunds are available on or after the first day of each semester.