Undergraduate Loan Request For which loan type is this request being submitted?* Federal Direct Student Loan Private (Alternative/Bank) Education Loan Federal Direct Parent PLUS Loan Massachusetts No Interest Loan This form is for students who already have a private, credit-based education loan that has been disbursed or is scheduled to be disbursed to Boston University. If you are trying to apply for a new private, credit-based loan please visit our Credit-Based loan page for more information. If you have already been approved for a private, credit-based loan and wish to request an increase you may need to contact your lender directly. Boston University cannot increase a private credit-based loan unless the lender has already approved said increase. Exception: We may be able to increase your existing loan if has been credit approved for more than the current amount and has not yet disbursed.If you are unsure whether you wish to cancel or adjust your private loan or you have more questions regarding your private loan please contact our office for more information.This form should only be submitted if you are an undergraduate student requesting a new Federal Direct Loan or you are requesting an increase to an existing Federal Direct Loan that is already on your student account. If you would like to decrease or cancel an existing Federal Direct Loan on your student account, you can do so directly through your MyBU Student Portal if you have not already accepted it.Students enrolled fill time will have their loans split evenly between Fall and Spring semesters.Federal Direct Loan annual and lifetime limits are set by the U.S. Department of Education and students must meet certain eligibility requirements to qualify for the Federal Direct Loan program. Students who receive a Federal Direct Loan must also complete a 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. before receiving their first disbursementThe process of sending the proceeds of an educational loan to Boston University Student Accounting Services, usually at the start of each semester.. For more information about Federal Direct Loan requirements, limits, and terms please visit:Federal Student AidBU's Federal Direct Loan pagePrior to awarding a Federal Direct Loan, BU Financial Assistance will first review your eligibility for a more beneficial Massachusetts No Interest Loan. If you are eligible for a Massachusetts No Interest Loan, we will award it before a Federal Direct Loan. You can reduce or decline this Loan in your MyBU Student Portal if you have not already accepted it.To apply for a Federal Direct Parent PLUS loan please visit our PLUS Loan information page for more information and for the Federal Direct Parent PLUS Loan Request Form.If the parent borrower is requesting a change to their PLUS loan (such as a reduction or cancellation) the parent borrower can contact our office at ofaloans@bu.edu and our office can assist with their request.In order to receive a Massachusetts No Interest Loan, students must meet all eligibility criteria established by the State of Massachusetts.Completing this form does not guarantee receipt of a Massachusetts No Interest Loan.Please make sure to review borrowing terms and complete all additional requirements listed on BU's website.Would you like to request a Massachusetts No Interest Loan Yes - Review my eligibility for MA NIL and award maximum amount BU Financial Assistance will review your eligibility for a Massachusetts No Interest Loan and award your full eligibility (or maximum eligible amount) if you are eligible. If you would not like to utilize the maximum amount, you can decrease the total amount in the MyBU Student Portal.If you are not eligible for a Massachusetts No Interest Loan, would you like to be awarded your eligibility for Federal Direct Loans (if not already awarded) instead? Yes No Legal Name* First Last BU Email* PhoneBU ID Number* Anticipated Graduation Date (MM/YYYY)* Today's Date* Month Day Year I have previously completed a Master Promissory Note (MPN) and Entrance Counseling.*Please visit StudentAid.gov to learn more and to complete both requirements. Your Direct loan(s) will not disburseThe process of sending the proceeds of an educational loan to Boston University Student Accounting Services, usually at the start of each semester. until you have completed your MPN 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. requirements. Yes No I have completed a 2026/2027 Free Application for Federal Student aid (FAFSA).*BU's Federal School Code is 002130. Your loan request will not be reviewed until you have a valid 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. The Boston University FAFSA school code is 002130. on file with Boston University. Yes No Are you requesting a new Federal Direct Loan or an increase to a Federal Direct Loan on your account?* New Direct Loan Request Increase to Existing Direct Loan Decrease/Cancellation of an Existing Direct Loan If you have not previously accepted a federal direct loan, you can reduce or decline it directly in your MyBU Student Portal. Please only submit a decrease/cancellation request using this form if you have previously accepted your federal direct loan and it has already disbursed.I plan to enroll in the following number of credit hours:*FallSpringIn order to be eligible for a Federal Direct Loan you must be enrolled in at least 6 credits that count towards your degree program.I wish to apply for Federal Direct Loans (Total Amount Split Fall/Spring) for the following amount:*Please see below for the annual borrowing limit for each grade level. Direct 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 will be awarded up to your calculated Federal eligibility prior to the awarding of additional 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. A 1.057% origination fee will be assessed by the Department of Education for each Direct Loan.Please enter a number from 100 to 12500.Annual and lifetime borrowing limits Dependent Students Annual Loan Limits First-Year Sophomore Junior Senior 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 $5,500 $6,500 $7,500 $7,500 Independent Students* Annual Loan Limits First-Year Sophomore Junior Senior 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 $9,500 $10,500 $12,500 $12,500 *Independent students and dependent students with a parent who has been credit denied for a Federal PLUS Loan.Please Note for All Loans:If you request an adjustment after the disbursementThe process of sending the proceeds of an educational loan to Boston University Student Accounting Services, usually at the start of each semester. of the fall semester portion has been received, we reserve the right to make the entire requested adjustment to the spring semester disbursementThe process of sending the proceeds of an educational loan to Boston University Student Accounting Services, usually at the start of each semester..We may not be able to comply with your request due to Federal regulations, University policies or other reasons which will be communicated to you upon review of your loan adjustment request.If your Direct Loans were previously cancelled and you are requesting your Direct Loans be reinstated please complete the "New Direct Loan Request" section of this request form.Please increase my Direct Loan(s) to the amounts requested below:Please decrease my Direct Loan(s) to the amounts requested below:Current Total Federal Direct Loan(s) Amount*Semester 1Semester 2Annual and lifetime borrowing limits Dependent Students Annual Loan Limits First-Year Sophomore Junior Senior 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. Only $3,500 $4,500 $5,500 $5,500 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 $5,500 $6,500 $7,500 $7,500 Independent Students* Annual Loan Limits First-Year Sophomore Junior Senior 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. Only $3,500 $4,500 $5,500 $5,500 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 $9,500 $10,500 $12,500 $12,500 *Independent students and dependent students with a parent who has been credit denied for a Federal PLUS Loan.Requested Total Federal Direct Loan(s) Amount*Semester 1Semester 2Please note that a reduction or adjustment may cause an outstanding balance on your student account. If federal loan funds have been disbursed already, Boston University will return any reduced amount directly to the government. In some cases, BU Financial Assistance may not process your request if the result would be a significant balance that would unsettle your student account.HiddenPrivate LoanI am requesting a change to my private, credit-based education loan from the following lending institution:* I request the following change to my private education loan:* Cancel my private loan Reduce my private loan Adjust the amount for each semester I understand that the full amount of my private loan will be cancelled. Boston University will cancel any pending disbursements and will return any disbursed funds to the private lender. I understand that I am responsible for any outstanding balance with Boston University that may occur due to the cancellation of my private loan.* I understand Current Private Loan Amount*Semester 1Semester 2Requested Private Loan Amount*Semester 1Semester 2Please note that a reduction or adjustment may cause an outstanding balance on your student account. If private loan funds have been disbursed already Boston University will return any reduced amount directly to your private lender. HiddenCommentsAdditional comments regarding this loan request:Please use this section to provide any additional information that might be needed in order to review your loan request or adjustment. HiddenDue to the end of the 2022/2023 academic year Boston University can no longer process new loan requests. If you are requesting an adjustment to a loan that is already on your account for 2022/2023 please contact our office at ofaloans@bu.edu.HiddenDue to the end of the 2022/2023 academic year Boston University can no longer process new loan requests. If you are requesting an adjustment to a loan that is already on your account for 2022/2023 please contact our office at ofaloans@bu.edu.HiddenDue to the end of the 2022/2023 academic year Boston University can no longer process new loan requests. If you are requesting an adjustment to a loan that is already on your account for 2022/2023 please contact our office at ofaloans@bu.edu.Please submit your 2026/2027 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. The Boston University FAFSA school code is 002130. before submitting a loan request.