Frequently Asked Questions
What forms other than FAFSA are required to apply for financial aid?
Sargent College requires that in addition to the FAFSA you will need to submit a “Sargent College Graduate Application for Financial Assistance” if you are under the age of 24 and requesting Need Based scholarship, include a copy of parent’s tax returns. Documents are due by April 1st. 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)
Free Application for Federal Student Aid (FAFSA) http://www.fafsa.ed.gov/
Determines need and eligibility for Federal Financial Aid
First time B.U. 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 pin in a secure accessible area because you will need your PIN 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 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 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, 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 all eligible federal loans (Direct Unsubsidized, Perkins) 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 the semester.
To Request a Refund go to the Student Link > Money Matters > Student Account Inquiry > in the upper right corner of the screen is the Link for Request a Refund click on the link and follow the instructions. The refund will be direct deposited into your bank account.
If you prefer to go to the Student Accounting Services office and pick up your check, you must first visit the Graduate Financial Aid office to obtain a credit voucher.