Financial Aid

Financial aid decisions for institutional aid are generally made for the full academic year on the basis of academic performance and the availability of funds for your program of study. For federal loan and federal Work-Study eligibility, a student must demonstrate financial need, which is the difference between a student’s educational costs and the amount the student is expected to provide as determined by an evaluation of the family’s financial information (obtained from the FAFSA).

Financial aid awarded by Boston University may be used only for courses required by the degree program. It may be used for courses taken as corequisites or prerequisites only by special permission from the Graduate School of Arts & Sciences. It may not be used for courses taken as audits, for no-credit courses, or for courses withdrawn with a W grade. It may not be used for Health Services fees or late fees. Scholarship aid may not exceed the cost of required tuition and fees.

Fellowships, Assistantships, and Scholarships

The Application for Admission also serves as the application for departmental merit-based financial aid when the “yes” box is checked for the question “Do you wish to be considered for Boston University financial aid?” For most degree programs, applications for the appointments listed here must be received no later than January 15 for Fall, or October 15 for spring. Some programs have an earlier deadline. Please refer to the “Application Information Guidelines” page for those exceptions. Applications received after those dates are considered as departmental funds allow.

Currently enrolled degree candidates should contact their individual departments to inquire about application procedures for merit-based aid. See the sections on Loans and Federal Work-Study for pertinent information on federal aid procedures.

Dean’s Fellowships

These fellowships provide, for exceptionally well-qualified entering PhD students, up to four years of support. The awards require no service during the first year; they include a substantial stipend that may be taxable, Boston University health insurance for the Student Basic Plan, and a full-tuition scholarship for four full courses plus the student union fee per semester during the first year. Subsequent years involve a teaching fellowship or research assistantship. Students may not apply directly for these awards. Nominees are proposed by the Graduate School of Arts & Sciences departments, divisions, and programs. Nominations are proposed early in the admissions application processing cycle. Applicants who wish to be considered should, therefore, submit their admission applications well before the January 15 deadline.

Teaching Fellowships

Awards are available in many departments. Instructional and other duties total approximately 20 hours per week. For 2011/2012, the stipends rate is $19,300. A tuition scholarship and Boston University health insurance for the Student Basic Plan are also provided; ordinarily, recipients may carry no more than four full courses per semester plus a 2-credit teaching course. Credits for this course, which is required for all teaching fellows, will not be counted toward degree requirements, but will appear on the transcript as evidence of instruction and evaluation in teaching. Specific questions regarding this course may be directed to individual departments. The University is required to report the stipend portion of the award as income to the federal government, and the student is subject to appropriate federal and state tax laws.

Department Traineeships, Research Assistantships, and Research Fellowships

Awards are available in many departments. Duties vary but stipends are generally comparable to those of teaching fellowships. For information, consult the department chair.

Dr. Martin Luther King Jr. Fellowship

This fellowship is available to students who are U.S. citizens, new to Boston University and beginning graduate studies in any department or school of the University, and who are committed to the principles espoused by Dr. King. It provides a scholarship for full-time tuition and student union fees at the GRS level, plus a stipend for living expenses and Boston University health insurance for the Student Basic Plan. Students may not apply directly for this fellowship but are nominated by the department of admission. To be considered for this fellowship, a student should be in contact with the department of admission to request nomination, and provide to the department a statement describing his or her accomplishments in and commitment to social justice and community involvement.

Whitney M. Young Jr. Fellowship

This one-year fellowship is open to entering and continuing graduate students who are U.S. citizens and who have displayed academic proficiency in a field related to race relations or urban problems. The fellowship provides a stipend for living expenses, Boston University health insurance for the Student Basic Plan, plus a scholarship for full tuition at the GRS level and student union fee. Application forms are available from the Graduate School of Arts & Sciences, Room 112, beginning December 1.

African Studies Fellowships

These fellowships are awarded to qualified degree candidates in the social sciences. Recipients may be awarded stipends and/or tuition scholarships. The African Studies Center also administers National Resource Fellowships (NRF). Eligibility requirements for these government fellowships include the following: (1) applicants must be U.S. citizens or permanent residents; (2) they must have been accepted for a full-time program of graduate study in the social sciences or in a graduate professional program; and (3) they must enroll in an African language course and an African areas course each semester they receive the fellowship. Information and application forms for both NRF and African Studies Fellowships may be obtained from the Director, African Studies Center, 232 Bay State Road, Boston, MA 02215.

Loans

Unlike scholarships and grants, loans must be repaid. However, loans are an important source of funds for educational expenses and represent a sound investment in a student’s future. To keep loan indebtedness to a reasonable level that can be repaid after college, students are encouraged to earn as much as possible and keep expenses to a minimum. Because a loan must be repaid, students are urged to borrow no more than necessary.

Deferments and cancellations are available to recipients of Federal Perkins and Federal Direct Stafford loans under certain conditions that vary by loan program. Conditions may include: teaching students from low-income families, other designated teaching, military and volunteer service, unemployment, and economic hardship. Additional information on deferment and cancellation provisions is included with entrance and exit counseling for federal loan borrowers and is available from the Financial Assistance office, or at our website.

Federal Direct Stafford Loans

Federal Direct Stafford Loans are government-subsidized and unsubsidized, guaranteed educational loans for U.S. citizens and U.S. permanent residents. Graduate students may be eligible for up to $8,500 per year in a subsidized loan and up to an additional $12,000 per year in an unsubsidized loan, for a combined total of $20,500 per academic year. However, the annual loan amount cannot exceed a student’s calculated need. Total outstanding federal loans may not exceed $138,500 for undergraduate and graduate study. Federal loan applicants are available from the Graduate School of Arts & Sciences Financial Aid Office. Students need to complete both the FAFSA and the Loan Request Form for consideration.

The interest rate is fixed at 6.8 percent for loans disbursed on or after July 1, 2006. For subsidized Federal Direct Stafford Loans, the federal government pays the annual interest while a student is enrolled at least half time (6 credits per semester). For unsubsidized Direct Loans, interest begins to accrue when the loan is disbursed; the student is responsible for its payment. Repayment of the principal for both types of loans is deferred until six months after the student graduates, leaves school, or drops below half-time enrollment (which includes leaves of absence).

Federal Direct Graduate PLUS Loan

The Graduate PLUS Loan is a federal credit-based loan available to graduate students who are enrolled at least half time (6 credits) per semester in a graduate or professional degree program that leads to a master’s, law, or medical degree and who are U.S. citizens or permanent residents.

The interest rate on the Graduate PLUS Loan is fixed at 7.9 percent. Interest begins to accumulate on the date of the first loan disbursement, and it continues to be charged during periods of deferment and forbearance. Students may either pay the interest as it accrues (the Direct Loan Servicing Center will send quarterly interest statements) or allow the interest to be capitalized. Capitalization increases the total loan amount that must be repaid.

Students may annually borrow up to the cost of education less any financial aid received. However, they should not borrow more than they are able to repay. There is no cumulative limit on the amount students can borrow over the course of their education. Before deciding on an amount to borrow, students should first consider the Federal Direct Stafford Loan (see above section). Students need to complete both the FAFSA and a Graduate PLUS Loan Request Form for consideration.

A 4 percent fee is deducted from the loan proceeds. Borrowers will be given an up-front rebate that is approximately equal to 1.5 percent of the loan amount approved. Borrowers retain the rebate by making the first 12 monthly payments on time. Overall, the amount available will be 2.5 percent less than the loan amount approved.

The repayment period begins six months after a student ceases half-time enrollment. This six-month period is called a post-enrollment deferment period.

Private Loans

Several banks and private lending agencies offer educational loans to U.S. citizens, permanent residents, and international students. Since these loans are credit-based, students are strongly advised to obtain their credit reports well in advance of completing/applying for private loans. U.S. citizens and permanent residents who are credit-worthy do not require co-signers. International students must apply with a credit-worthy U.S. citizen or permanent resident. Total financial aid including federal and private loans cannot exceed a student’s calculated need. For applications and information on eligible loans, contact the Graduate School Financial Aid Office.

Federal Work-Study

Federal Work-Study is a program that promotes access to employment for students who demonstrate financial need. Available funds are provided by a federal allocation and a University matching contribution. Recipients are selected by the Graduate School Financial Aid Office and must meet federal need and other criteria. The Work-Study Office provides information to eligible students about available jobs in University departments as well as off-campus nonprofit agencies. Work-Study allocations may be used for community service programs. Graduate Work-Study students may be paid either weekly at established hourly rates or monthly at a fixed amount, depending on the nature of the job. Job assignments, which average 9–12 hours per week, are coordinated with the student’s class schedule. Detailed information on Work-Study can be found online. Inquiries about the program should be directed to the Graduate School Financial Aid Office, 705 Commonwealth Avenue, Boston, MA 02215; 617-353-2696; or email us grsaid@bu.edu.

External Sources of Financial Support

In addition to these internal programs, there are many external sources of financial support for which Graduate School of Arts & Sciences students may be eligible. Typically, these awards are extremely competitive. Because applications must be submitted as much as a year in advance, students should investigate early and plan ahead. Many deadlines are in the fall. Department chairs receive copies of current award opportunities that are received by the Dean’s Office. It is also advisable to consult the Grants Register, Annual Register of Grant Support, and the Foundation Directory.

Fulbright-Hays Study Abroad Grants

These grants provide funds for study and research abroad to students with at least a bachelor’s degree who have not received a PhD. The applicant submits a proposal for study in a foreign country in whose language he or she is proficient. Applicants without prior study abroad are given preference. On a national basis, approximately 500 grants are awarded annually, providing for study and research in at least 50 countries. Applications, which are available in mid-August for the October 15 deadline, may be obtained online.

National Science Foundation Fellowships

The NSF Graduate Research Fellowship and the NSF Minority Graduate Fellowship are three-year fellowships open to those U.S. citizens who are at or near the beginning of their graduate study in science or engineering. These fellowships provide a cost-of-education allowance and a stipend for living expenses. Applications are available online. Deadlines are dependent on proposed field of study or specialization.

United Methodist Fund

Scholarships ranging from $500 to $2,500 are provided by the Board of Education of the Methodist Church to those who have been members of that church for three years and who intend to teach in liberal arts colleges. These awards are available to qualified students in any department. Application forms are available by writing to P.O. Box 340007, Nashville, TN 37203-0007 or by email at umscholar@gbhem.org.

Methodist Loan Fund

The Board of Education of the Methodist Church lends financial aid to qualified students on interest-bearing promissory notes. Descriptive material may be secured by writing to P.O. Box 340007, Nashville, TN 37203-0007 or by email at umloans@gbhem.org.