COVID-19 & FINANCIAL ASSISTANCE – WHAT YOU NEED TO KNOW
So much has changed since the outbreak of COVID-19. We’ve gathered information and resources about changes to our financial aid process as a result of adjusting to a new normal. Rest assured that most things have not changed and we’re still available to help you and your family navigate the best ways to pay for your college costs. Our focus remains the same – helping you minimize your expenses and maximize resources available to you.
NEED AN APPOINTMENT TO MEET WITH US?
Appointments with Financial Assistance staff can be conducted online via Zoom or by telephone if you are more comfortable meeting remotely. If we meet via Zoom, feel free to invite anyone helping you with college expenses to join us. Use your Handshake account to book your appointment and we’ll email you with the Zoom link and login credentials. You’ll find instructions here.
NEED TO KNOW MORE ABOUT BACK2BU & YOUR FINANCIAL OPTIONS?
We have all needed to make so many COVID-19 related adjustments to our lives, we expect that you have questions about your financial options. We’ve listed answers to a number of frequently asked questions specifically related to the University’s response to COVID-19 and undergraduate BU financial assistance. Link to that page here. Link to information about all aspects of Back2BU here.
TEMPORARY FEDERAL LOAN REPAYMENT SUSPENSION SET TO EXPIRE MAY 1, 2022?
All borrowers with federally held student loans have had their loan interest rates automatically set to 0% and the option to suspend payments under a special COVID-19 related provision of the law. That special provision expires on May 1, 2022. Learn about what you need to do to prepare for the resumption of loan repayment and repayment options available to you here.
PRIVATE LOAN - NEED TO KNOW ABOUT SPECIAL HELP DURING COVID-19 EMERGENCY?
Certain privately held student loans, not covered by special federal special loan repayment relief provisions, may qualify for relief under a multi-state agreement between private student loan servicers and the Massachusetts Division of Banks. The initiative involves a 90-day forbearance, interest/fee waiving, prohibiting negative credit reporting and connecting students with resources. Learn more here.
ARE YOU STRUGGLING TO PAY BU EXPENSES BECAUSE OF A COVID-19 RELATED HARDSHIP?
We recognize that the pandemic has left many students and their families coping with unexpected financial challenges that may impact their plans for paying BU expenses. We encourage you to revisit your plans using our planning tools here as a guide to sharpen your focus on your expenses and current available resources. Also, information about how to appeal for a reconsideration of your need-based financial aid decision, and our appeal form is here.
Want more information? Go to: COVID-19 Student Financial Options.