Financial Frequently Asked Questions

Students who are selected for merit scholarships are notified in their letter of admission. BU Wheelock does not have the resources to award scholarships based on financial need, nor do we automatically apply federal funding to a student’s account. 

Admitted students should review the information on the Loans, Grants & Work Study section of our website. If you need more help, feel free to contact our Financial Assistance team at wheaid@bu.edu

If you are enrolled in a degree program and registered for six credits or more during the summer term, you may be eligible for a Summer Direct Unsubsidized Loan. To receive a Summer Direct Unsubsidized Loan, you must submit the loan request form, which is available online near the end of the spring semester. To be considered for federal financial aid, you must submit a FAFSA for the upcoming academic year and complete your summer registration before submitting the request form. If additional funds are necessary, the summer Graduate PLUS loan is also an option.

The University is committed to supporting educators and working professionals to advance in their careers. We understand that most teachers work during the day and can’t take classes before the evening, and for this reason, BU Wheelock is proud to offer a discounted tuition rate for our part-time students taking courses with us.

BU Wheelock offers merit-based scholarships for incoming graduate students only. There are no supplemental application materials required; all students are considered for scholarship through a holistic review of their application. Student who are awarded merit scholarships should carefully review the BU Wheelock Scholarship Policies (pdf) for details about their scholarship, and their responsibilities as scholarship recipients.

Yes. Students who enroll in a multi-year program are eligible to receive their merit scholarship in the same merit scholarship amount for their subsequent year in their program.

We very much understand the challenges associated with financing your degree. All scholarships are based on the merit of the applicant, and as such, they are highly competitive.  If you would like more information about possible scholarship opportunities from agencies outside our institution, please visit our  Scholarships & Fellowships page and navigate to the “External Scholarships & Funding” links at the bottom. Please also reach out to us via email if you would like more information about scholarship reconsideration.  

It’s recommended that you submit the FAFSA at your earliest convenience to expedite the Federal Loan Process. The 24/25 FAFSA was opened by the Department of Education in December 2023, and students who wish to borrow Federal Loans can apply through the FAFSA any time between now and the end of their academic period. Students who complete the FAFSA are eligible to borrow federal Unsubsidized Direct loans up to an annual limit of $20,500 upon completion of a Direct Loan Request Form. Upon receipt of your loan request, our team will reach out to ensure that your FAFSA is being loaded into our system for review.   

Students who wish to finance their educational or living expenses can do so with credit-based loans. There are two credit-based loan options, the Federal Graduate PLUS Loan and Private Lender Loans. The Federal Plus requires the completion of a FAFSA, while loans from a private lender can be found through the use of Credible, a third-party site that allows our students to compare available options to choose a lender that works best for them.

Please only choose one credit-based loan option.  Students who borrow loan funding to pay for living expenses can request a refund on or after the first day of the semester. To request a refund, go to the Student Link > Money Matters > Student Account Inquiry, and at the top of the screen is the link for Request a Refund. Click on the link and follow the instructions. The refund will be directly deposited to your bank account.

Students starting in the fall should plan to start researching their lending options at the outset of the summer. To ensure that your credit check is valid for the entire year, we recommend that you apply for your credit-based loans no earlier than July 1. We also recommend that students intending to borrow loans plan to borrow for the entire year at once, rather than submitting a new application every term. Loans are usually disbursed to students’ accounts two weeks before the start of the semester if students have successfully submitted a loan request form, completed loan counseling, and signed the Master Promissory Note in ample time for processing. It will generally take 7-10 days to fully process a loan.

If you have previous educational loans with in-school deferment provisions, you can defer payments as long as you are seeking a degree and enrolled in at least six credits.

Boston University has contracted with the National Student Clearinghouse to provide proof of enrollment, enrollment history, and loan deferment information. You will need to log in to the Student Link > Money Matters > Loan Deferment Notifications and complete the necessary steps.

Some loan servicers do not accept documentation from the National Clearinghouse (Navient and Sallie Mae, for example), so you may need to download an application for in-school deferment from the loan servicer. This form will need to be signed and completed by the Boston University Registrar’s Office at 881 Commonwealth Avenue.

International students have to produce documentation showing that they have financial support from their family or from a sponsor in order for the University to issue an I-20. If we offer a scholarship, students can include the aid we’re providing as part of their financial aid statement, but they still have to show that they have sufficient remaining funds. There are loans that are offered through US sources to international students who have a US cosigner or a US sponsor, but in most cases, loan options for international students are quite limited.

Our assistantships are also a source of support and an option for both international and domestic students. Depending on their various needs at any given time, departmental offices and professors hire graduate assistants. Teaching assistant positions may provide some tuition benefits as well as a stipend. It is unusual, however, for international students to receive graduate assistantship offers before arrival in the United States.

If you’re an international student, you will be considered for a merit scholarship at the time of admission. There are also a number of lenders that offer financing options for our international student population. Please visit Boston University’s central Financial Aid website for more information about which lenders can offer you borrowing opportunities. To receive additional financial support during the academic year, be sure to review and apply for any graduate assistantships you may be qualified for.

New graduate students will have their payment deadline set for mid-September, after the official start of the Fall term. More communication about the exact date will be distributed by the Student Accounting Services office in the coming weeks.  

There are payment plans for both full-time and part-time students. Payment plans are coordinated by the Student Accounting Services office with a 3rd party. Typically, full-time students pay in five installments beginning in May. More information and instructions on enrolling can be found on the Student Accounting Services website.  

Graduate assistantships are available across campus, not just at BU Wheelock. Each assistantship is unique; however, most will require an interview process. Most departments will post their available assistantships starting in May. Please monitor our assistantships board for available opportunities.