Grants, Loans & Work-Study

The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program provides grants of up to $4,000 per year (dependent on enrollment status) to students who agree to teach for four years at an elementary school, secondary school, or educational service agency that serves students from low-income families.

Learn more about the TEACH Grant and apply: TEACH Grant Program Application PDF

Federal Direct Unsubsidized loans are long-term, low-interest education loans. You are eligible to participate in the Federal Direct loan program if you are:

• A U.S. citizen or permanent resident
• Enrolled in a degree program on at least a half-time basis (or considered at least half-time by your School/College) and credits count towards your degree
• Making satisfactory academic progress
• Do not have an outstanding balance from a prior period of enrollment at Boston University
• Have not met the cumulative (aggregate) limit for the Federal Direct (formerly Stafford) Subsidized/Unsubsidized loan program of $138,500 for graduate and professional students, including any amount borrower for undergraduate study.

Processing your loan application takes about three to four weeks. Be sure to complete the loan application steps at least one month before the beginning of the semester. For more information about how to apply for a Federal Direct Loan, visit Graduate Federal Direct Loan Request.

Graduate Federal PLUS loans are long-term, low-interest education loans. The PLUS loan is a credit-based loan.

Eligible graduate loan borrowers are those who are enrolled at least half-time (6 credits) per semester in a graduate or professional degree that leads to a master’s, law, or medical degree. The credits must be accepted toward the degree program. The student must be a US citizen or permanent resident, must not have an outstanding balance from a previous enrollment period, and must be making satisfactory academic progress according to school guidelines.

The PLUS loan does not have any annual borrowing maximums, so you may use this loan to bridge the gap between all other forms of funding and aid and your total cost of attendance.

For more information about the Federal PLUS loan and how to apply, visit Graduate Federal PLUS Loan Fact Sheet.

Summer Federal Direct Unsubsidized Loan Request Form

Summer Federal PLUS Loan Request Form

Students can also apply for private credit-based loans to cover all or a portion of their cost of attendance. Boston University has created a list of private loans to help you get started. You don’t have to borrow from one of the lenders listed on the website—you can choose to borrow from any lender without penalty.

BU also has a tool called that helps students compare a few private lenders who have been reviewed by a University-wide committee. Learn more about ELM.

Federal Work-Study is a program that promotes access to employment for students who demonstrate financial need. The Work-Study Office provides information to eligible students about available jobs in University departments as well as off-campus nonprofit agencies.

Graduate Work-Study students may be paid either weekly at established hourly rates or monthly at a fixed amount, depending on the nature of the job. Job assignments, which average 12 to 15 hours per week, are coordinated with the student’s class schedule. Funding is extremely limited for graduate-level Federal Work-Study.

If you’re interested in a Federal Work-Study position, contact the BU Wheelock Financial Assistance team by emailing wheaid@bu.edu.