Frequently Asked Questions

The payment deadline for the spring semester is mid-December. Late fees will begin to accrue after that date.

Most financial aid is disbursed in two payments (once at the start of each semester).

You must be enrolled at least half time (6 credits) to get and keep financial aid, including a federal loan and most alternative loans.

You may view your student account and financial aid status online on the Student Link. Making sure your student account is accurate is your responsibility.

No, but credit checks are required for alternative loans and a co-signer may not help if you cannot pass the credit check.

There must be a credit balance in your student account before a refund can be processed. You may view your student account online to see when your funds are credited. Also, each semster, refunds are not released until starting the first day of classes for the semester.

Even though there is an alternative loan limit each year, which is not based upon financial need, other eligibility requirements (such as the student budget and other financial aid) may limit the amount for which you qualify.

You should not borrow the maximum loan amount each year just because it is available. That will mean higher loan payments when you graduate.

There are guarantee and/or origination fees for most of the student loan programs.

Yes. The entrance counseling is required by federal regulation before federal student loan funds can be disbursed. You may complete the requirement online.

Yes. If you drop a course, take a leave of absence, get additional financial aid, get a Resident Assistant position, etc., your financial aid may be affected.

No, student loans cannot be disbursed until the first day of classes each semester.

No. You cannot receive a refund or an advance of spring semester credit until after the winter break, starting when classes begin for the spring semester; therefore, you should have December and January rent and other living expenses budgeted.

Your Federal Direct Staffford Loan funds will not be credited to your student account until you complete the promissory note and it is processed. You may complete it online.

No. The awarding of SSW scholarships is generally based on merit.

If you are awarded a SSW scholarship, you must maintain at least a 3.0 grade point average to be considered for that scholarship for the following year. Incomplete grades will be taken into consideration once they are posted and may affect your eligibility. You must also complete and submit the SSW Financial Aid Application.

In order to get your previous loan(s) deferred, you must send the deferral form(s) to the Boston University Verifications Department at 881 Commonwealth Avenue.

Yes. If you submit a refund form before all of your funds are credited to your account, and it is processed, you will need to submit a new refund form to request any new funds that become available.

If you get charged a late fee and you want to dispute it, you must put your appeal in writing to Student Accounting Services.

No. Student loans are not dischargeable in bankruptcy.

Exit counseling is required by federal regulations before you can receive your diploma at graduation.

Filing a FAFSA and a SSW financial aid application is required each March if you are applying for SSW financial aid; if you are applying only for a student loan, however, the FAFSA is still necessary, but student loan applications are not usually available until April or May and must be filed separately.

Full-time students may take courses in the summer, but they are not covered by the tuition paid during the academic year; students are charged the “per credit” rate for summer courses.

The federal work-study program requires an assessment of financial need according to federal requirements, i.e., it is “financial aid.”

Any balance due at the end of the academic year must be paid off before financial aid for the following academic year can be processed.

Almost every trust fund can be used for educational purposes and is counted as “cash” when determining eligibility for federally funded programs.

You must be registered for at least 6.0 credit hours during the summer to be eligible for a summer loan.

Using a student loan for summer enrollment may result in reduced eligibility for the following academic year.

Student loans for summer enrollment are based upon the number of credits for which you register and therefore cannot be processed until you have registered for classes.