Financial Aid
Student loans are valuable resources that may be available to you. It is free to apply for loans and you may qualify for educational loans regardless of your income.
General eligibility for federal loans requires that you meet the following criteria:
- Be accepted as a degree-seeking student, and
- Be making satisfactory academic progress
- Be a U.S. citizen, national, or permanent resident alien
- Be enrolled at least 4 credits
- Not be in default on prior student loans
- Not owe a repayment or overpayment of a Federal Grant
Before Being Admitted:
To expedite the eventual processing of your loan application (if you are accepted and you choose to attend), it is recommended that you complete the FAFSA within a few business days of submitting your application for admission to Boston University. It is also recommended that you complete the Entrance Counseling and Master Promissory Note which can be done online at www.bu.edu/finaid. Boston University’s school code is: 002130.
After You Have Been Admitted:
After you have been admitted and confirmed your attendance, you will receive an e-mail containing the Stafford Loan Request Form and further directions for completing the form. Once you have submitted the Stafford Loan Request Form it can take up to three weeks for your loan to be processed. Please note if you have not already completed the FAFSA, Entrance Counseling, and Master Promissory Note this will slow your processing time by several business days. These documents are required to receive a Stafford Direct Student Loan.
Useful Web Sites
- FAFSA on the Web
http://www.fafsa.ed.gov/ - Helping in completing the FAFSA
http://studentaid.ed.gov/students/publications/completing_fafsa/index.html - The Student Guide
http://studentaid.ed.gov/students/publications/student_guide/index.html - The Smart Student Guide
http://www.fafsa.org
