Demonstrated Financial Need & Expected Family Contribution
BU need-based scholarship eligibility is established in the first year that you apply for and receive scholarship aid and it is guaranteed for each year of undergraduate study; that’s the BU Scholarship Assurance. BU Financial Assistance calculates your Demonstrated Financial Need with information from the CSS Profile™ and an equitable calculation that provides a fair and reasonable assessment of a family’s financial strength. After your first year, you will not be required to submit the CSS Profile™ again unless you are appealing for reconsideration of your financial aid award.
Demonstrated Financial Need for BU Need-Based Scholarships
Four major factors make up the Demonstrated Financial NeedThe amount of financial aid you are eligible for based on the total annual cost of attendance minus the amount BU Financial Assistance determines you and your family are able to contribute toward those costs using the information provided on your CSS Profile application. : Income, Assets, Number in Household, and Number in College. Since your eligibility is influenced by all of these factors, no two reviews are alike as families with similar income may have more substantial differences in the other categories.
Use our College Cost Estimators to help you estimate how much aid you may be eligible for. While our calculators are great at providing a general estimation of demonstrated financial needThe amount of financial aid you are eligible for based on the total annual cost of attendance minus the amount BU Financial Assistance determines you and your family are able to contribute toward those costs using the information provided on your CSS Profile application. it may be less accurate in more complex financial situations and is intended for domestic first-year undergraduates only.
Eligibility for Federal and State Financial Aid
Eligibility for federal financial aid is determined with the 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. ( Free Application for Federal Student Aid) and federally legislated formulas. The formula produces a Student Aid IndexCollege financial aid offices use the Student Aid Index (SAI) to determine how much federal student aid you may be able to receive. The SAI is calculated using information from your FAFSA form. BU Financial Assistance uses information reported on the CSS Profile to determine eligibility for Boston University scholarships, not the SAI. (SAI) which is a measure of your eligibility.
Renewal of Aid
BU need-based scholarship aid is renewed based on the terms of the BU Scholarship Assurance. After the first year, recipients are not required to file the CSS Profile™ unless they are appealing for reconsideration of their financial aid.
Federal and state funded financial aid is renewed each year based on the 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. which must be filed each academic year.
BU is meeting my full demonstrated need but I still have a bill?
BU is committed to meeting the demonstrated BU financial need of all admitted students entering college for the first time. Your demonstrated financial needThe amount of financial aid you are eligible for based on the total annual cost of attendance minus the amount BU Financial Assistance determines you and your family are able to contribute toward those costs using the information provided on your CSS Profile application. is determined by the information from both the 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. and the CSS Profile and may be different from your 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. SAI. Students may still have expenses that are not covered by aid, either billed or unbilled, even with BU meeting their full demonstrated needThe amount of financial aid you are eligible for based on the total annual cost of attendance minus the amount BU Financial Assistance determines you and your family are able to contribute toward those costs using the information provided on your CSS Profile application. .
Students can earn and cover a portion of their total expenses while at BU through student employment. Reasonable and responsible student borrowing, where students are making an informed choice to invest in their education and future, can also be a great tool by which you can investment in your education.
Learn more about managing college costs
Whatever the amount of your family’s share of the total costs, it’s critical that you and your family plan for this expense before you arrive on campus. For more information, see Your Plan for Managing BU Expenses and Four Steps to Managing the Cost of Your Education.
