Latest COVID-19 Information

Credit-Based Loan Timeline

If you plan to use a credit-based loan to satisfy or ‘settle’ your BU bill, it’s important to take the action steps listed below which start well before the payment deadline. You are required to settle your student account by the payment deadline. If you’re not using these loan funds to settle your account and plan to use them for other school expenses, you canĀ  apply later in the year.

ACTION STEP WHEN SHOULD I ACT? WHERE CAN I GET HELP?
1 Do I need to borrow?
How much should I borrow?
Start researching your options 3 – 4 months before the semester payment deadline. Go here to use our college cost planning calculator.
2 What am I looking for in a loan? Start identifying the elements of a loan that are important to you 2 – 3 months before the semester payment deadline. Go here to learn more about how to identify which loan is right for you.
3 How do I pick a lender? Decide which loan product you will apply for 1 – 2 months before the semester payment deadline. Go here to learn more about loan products.
4 How do I apply for a loan? Be prepared to submit your application approximately 45 days before the semester payment deadline, to maximize the likelihood that the lender will approve your loan by the date the bill is due. To apply for private credit-based loans, go to the website of whichever lender you choose.

To apply for the Federal PLUS Loan at BU, go here to apply.