Here is a list of frequently asked questions about graduate financial aid at Metropolitan College. To learn more or to speak with a financial assistance advisor, contact us:
Graduate Financial Aid
Boston University Metropolitan College
1010 Commonwealth Avenue, 1st Floor
Boston, MA 02215
Email: email@example.com | Phone: 617-358-4072
Is financial aid available, and how do I qualify?
Financial Aid is available in the form of federal loans. To qualify, you must be a U.S. citizen or permanent resident and have been accepted into a degree program. You must also plan to attend at least half-time (six or more credit hours) and maintain satisfactory academic progress each semester. Metropolitan College graduate students are encouraged to submit the Free Application for Federal Student Aid (FAFSA), which determines eligibility for federal loan programs, the Federal Direct Unsubsidized Loan, and the Graduate PLUS Loan.
What if I do not qualify for a federal loan?
What are the steps for applying for a federal Direct Unsubsidized Loan?
- Complete the Free Application for Federal Student Aid (FAFSA); BU School Code: 002130
- Complete a Loan Request Form (required for each new semester)
- Complete the graduate Loan Entrance Counseling (new students/first time borrowers only)
- Complete the graduate Master Promissory Note (MPN for Subsidized/Unsubsidized Loans)
How much can I borrow with a Federal Direct Unsubsidized Loan?
Graduate students can borrow up to $20,500 unsubsidized per academic year. Interest will accrue, and must be paid or capitalized during periods of in-school enrollment and/or deferment.
Is financial aid available for the summer?
Yes. Please note that different Federal Direct Unsubsidized Loan and Graduate PLUS Loan request forms are required for the summer semester. When these seasonal forms are available, they will be found on our Links & Documents page.
What is satisfactory academic progress?
Satisfactory academic progress (SAP) is one of the criteria that a student must meet in order to remain eligible for financial assistance. SAP is made up of the following factors:
- Minimum cumulative Grade Point Average (GPA)
Students are required to maintain a minimum 3.0 cumulative GPA throughout the MET Master’s degree program to maintain financial aid eligibility and good academic standing.
- Minimum completion percentage
The minimum completion percentage is the percentage of attempted courses that a student must complete during enrollment to maintain financial aid eligibility. For MET graduate degree programs at Boston University, students must complete at least 75% of the courses they attempt to remain eligible for aid.
Students who do not meet either or both of the above factors comprising Satisfactory Academic Progress (SAP) are not eligible to receive federal financial aid, including student loans. A student who is not meeting SAP is permitted to apply for aid but must also submit an explanatory, compelling letter of appeal to MET Graduate Financial Assistance in order to have their aid application considered. Contact MET Graduate Financial Assistance at 617-358-4072 or firstname.lastname@example.org for information and instructions regarding the SAP appeal process.
Can I apply for a Federal Direct Unsubsidized Loan if I’m enrolled in only one course (four credit hours) this semester?
In order to qualify for a Federal Direct Unsubsidized Loan, you must be enrolled at least half-time per semester (six or more credit hours). Private and non-federal loan programs are available for students attending less than half-time.
Can I apply for a Federal Direct Unsubsidized Loan if I’m taking classes while I’m waiting to hear if I’ve been accepted into a graduate program?
What are my options if I’m not interested in a Metropolitan College graduate degree or certificate but I would like to enroll in a course?
You must be a degree candidate to qualify for a Federal Direct Unsubsidized Loan. However, private loans are available for those who do not qualify for a federal loan.
Are certificate program students eligible for financial aid?
No. Only students enrolled in a degree program are eligible for financial aid. However, private loans are available for those who do not qualify for a federal loan.
What happens if I withdraw from a class?
How do I request a refund?
For federal loans, refunds are distributed automatically after the disbursement of the loan. Once the student’s account is settled, a check with the refunded amount will be mailed to the student.
Another option available to students is the online refund request.
What if I’m in the military or have veterans benefits?
Are monthly payment plans available?
To learn more about payment plans for part-time students, visit Student Accounting Services.
How do I defer repayment of my previous student loans while I’m in school?
If you’re enrolled half-time (i.e., 6 credits or more in a semester), you may qualify for in-school deferment. Contact your lender or loan servicer and request the In-School Deferment Form. To find contact information for your federal loan servicer, log onto the National Student Loan Data System (NSLDS). To obtain loan deferment request forms for any private loans (e.g., Sallie Mae, Discover), contact the agency or lender directly. Fill out the student section of the form, then email it to the BU Registrar at email@example.com for completion.
Do I have to pay taxes on scholarship money I receive?
Your scholarship may or may not be taxable. Generally speaking, a scholarship is tax free if you are a degree candidate and the award is used to pay for tuition and required fees, books, supplies and equipment. However, there are some scholarship opportunities that are not tax exempt. Any amount used to pay for room and board or a stipend for living expenses is taxable, for example. Go to IRS.gov and view Tax Benefits for Education: Information Center for more guidance.