2024/2025 Metropolitan College Application for Financial Assistance Form

Undergraduate Degree Program

Complete this form to apply for Financial Assistance if you are enrolled in one of the following programs at Metropolitan College:

• Online Undergraduate Degree Completion Program
• Accelerated Degree Completion Program
• On-campus undergraduate degree program

Eligibility Criteria

To be eligible for most financial assistance at Boston University, all Metropolitan College (MET) students must meet the following eligibility criteria:

• A student must (1) be a U.S. Citizen or permanent resident, (2) be enrolled in a degree program, (3) be registered for at least 6 credit hours per semester that are eligible to be accepted towards a degree program, except for Federal Pell Grant eligibility for which less than 6 credit hours is permissible, (4) demonstrate financial eligibility as determined by federal regulations and – for Boston University aid – by Boston University policy, (5) have no outstanding balance from a prior period of enrollment at Boston University.
• A student must be making satisfactory academic progress to receive financial aid. Students must compete at least 75% of all attempted courses. In addition, students must maintain a cumulative G.P.A. of at least 2.00. For Boston University financial aid all students must maintain a cumulative G.P.A. of at least 2.00.

Annual Federal Eligibility Limits

These are the maximum loan amounts that can be awarded in a single academic year (summer, fall, and spring) and vary based on your dependency status. If you borrowed federal loans in the past, you may be eligible for less. Go to the National Student Loan Database for information about your federal loan borrowing history.

Dependent Students

Independent Students

Application Requirements

All MET students applying for financial assistance must complete and submit the following before the application can be considered:

• Metropolitan College Application for Financial Assistance
• 2024/2025 Free Application for Federal Student Aid (FAFSAThe Free Application for Federal Student Aid (FAFSA) is used to determine eligibility for state and federal grants, scholarships, and loans. The FAFSA can be completed on the Federal Student Aid website.)
• If FAFSAThe Free Application for Federal Student Aid (FAFSA) is used to determine eligibility for state and federal grants, scholarships, and loans. The FAFSA can be completed on the Federal Student Aid website. acknowledgement email indicates it was selected for federal verification, more documents may be required.

MET students enrolling in more than 12 credit hours per semester may be considered for BU scholarship aid. Prior recipients do not need to reapply as renewal is guaranteed by the BU Scholarship Assurance**. Those who have not received BU scholarship aid in the past must submit the following additional materials:

• 2024/2025 CSS Profile
• Income Verification Documentation for 2022 tax year (copies of complete federal income tax returns and/or Income Tax Non-Filer Form, and all W-2 Forms)

Any student awarded Federal Direct Loans for the first time as part of their financial assistance package must also complete the following on the Federal Student Aid website before the loan can be disbursed:

• Direct Loan Master Promissory NoteThe Master Promissory Note (MPN) is a legal document in which the borrower promises to repay their loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of the loan(s). The Master Promissory Note can be completed on the Federal Student Aid website.
• Direct Loan Entrance CounselingEntrance Counseling is a Federal Direct Loan requirement that ensures the borrower understands the terms and conditions of their loan and their rights and responsibilities. Federal loans cannot disburse until the borrower has completed it. The borrower can complete Entrance Counseling on the Federal Student Aid website.
• Loans will be canceled if the master promissory noteThe Master Promissory Note (MPN) is a legal document in which the borrower promises to repay their loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of the loan(s). The Master Promissory Note can be completed on the Federal Student Aid website. and entrance counselingEntrance Counseling is a Federal Direct Loan requirement that ensures the borrower understands the terms and conditions of their loan and their rights and responsibilities. Federal loans cannot disburse until the borrower has completed it. The borrower can complete Entrance Counseling on the Federal Student Aid website. are not complete before the end of the loan period.

*Eligibility for SubsidizedA Subsidized Federal Direct Student Loan is made on the basis of the borrower’s financial need (FAFSA) and other specific eligibility requirements. The federal government pays the interest on subsidized loans while the borrower is enrolled at least half time, during the grace period, or during periods of deferment. loans varies and this amount may include UnsubsidizedAn Unsubsidized Federal Direct Student Loan is made to a borrower meeting specific eligibility requirements, but not based on financial need (FAFSA). The borrower is responsible for paying all interest that accrues throughout the life of an unsubsidized loan. During in-school status, deferment, and forbearance periods, the borrower may choose to pay the interest charged on the loan or allow the interest to be capitalized. loans instead.

**As long as student maintains enrollment of greater than 12 credits per semester.

• BU Financial Assistance will calculate your cost of attendance based on actual and allowable educational expenses anticipated for each academic semester/year. Tuition charges are an integral part of this cost of attendance calculation. Because most Metropolitan College students are charged tuition on a per credit hour basis, you must notify BU Financial Assistance of your intentions regarding your level of enrollment for the award period.

If your have any questions regarding this form, please contact Boston University Financial Assistance at 617-353-2965 or finaid@bu.edu.

You must complete the following in order to be considered for financial aid:

• If your enrollment increases or decrease from the amount indicated above, your award will be recalculated.
• Students who will be enrolled for the entire academic year (both fall and spring semesters) must provide information regarding enrollment for both the fall and the spring semesters. Failure to provide the number of credit hours in which you plan to enroll will delay and possibly jeopardize consideration of your financial aid application.

• Please note that, if the amount you requested is greater than your annual eligibility and/or lifetime aggregate borrowing limit, BU Financial Assistance will award the maximum allowable amount. Be aware that borrowing the maximum annual eligibility during the academic year may limit your eligibility during summer sessions.
• If you would like to receive your maximum allowable eligibility, please find your applicable "SubsidizedA Subsidized Federal Direct Student Loan is made on the basis of the borrower’s financial need (FAFSA) and other specific eligibility requirements. The federal government pays the interest on subsidized loans while the borrower is enrolled at least half time, during the grace period, or during periods of deferment. and UnsubsidizedAn Unsubsidized Federal Direct Student Loan is made to a borrower meeting specific eligibility requirements, but not based on financial need (FAFSA). The borrower is responsible for paying all interest that accrues throughout the life of an unsubsidized loan. During in-school status, deferment, and forbearance periods, the borrower may choose to pay the interest charged on the loan or allow the interest to be capitalized. Total" eligibility listed in the table above and divide it by two. This will be your maximum eligibility for each semester.
• If you would not like to be awarded Direct Loans, please indicate $0 and we will review your eligibility for grants only. This may result in no award if you are not eligible for any grants.

Federal Financial Aid Credit Authorization: If the federal financial aid you are awarded exceeds your tuition, fees, room, and meal plan charges on your student account, you will receive a check in the mail for the excess amount. This may generate an unpaid balance if other (e.g. medical insurance, convenience points, etc.) charges are posted to your student account or if your award is adjusted due to changes in enrollment. If you do not wish to receive this automatic refund, you must complete the Federal Financial Aid Credit Authorization Form. For more information and a link to this form, visit BU Student Accounting Services.

Agreement

• By completing this form, I acknowledge that the information submitted is true and correct. I understand that I must notify BU Financial Assistance in writing regarding any and all changes to the information above.
• I understand that any reduction to my level of enrollment may reduce my eligibility for financial assistance.
• I have read and understand the financial aid eligibility and application requirements noted on this document.