STUDENT FINANCIAL SERVICES

Transcription

1 STUDENT FINANCIAL SERVICES Presented by: Drew Sands, MBA Assistant Director Emir Morais, MPA Associate Director

2 Student Financial Services Located in B-401 (Robinson Building) SFS Office Hours: Monday Friday, 9:00 A.M. 5:00 P.M bumc.bu.edu/osfs/med

3 Our Team Lisa Nguyen Administrative Assistant Sandia Chau Assistant Director Jonathan Brett Housing Resources Manager & Senior Financial Aid Advisor Emir J. Morais, MPA Associate Director Drew Sands, MBA Assistant Director BUSM Liaison Scott Harrison Assistant Director SPH Liaison Keneshia Estime Assistant Director GSDM Liaison Sherill Ashe Financial Aid Administrator GMS Liaison

4 Services Offered by SFS Administering aid: institutional, federal, and private loans Financial Literacy Workshops Debt Management Counseling Approving cash refunds for living expenses Our office is a great resource to our student population

5 BUMC Housing Resources Contact: Jonathan Brett Housing Resources Manager & Senior Financial Aid Advisor Phone: FAQs: bumc.bu.edu/ohr/faqs BU Real Estate: bu.edu/realestate BUMC Housing Resources: bumc.bu.edu/ohr

6 Master Promissory Note (MPN) & Entrance Counseling Required for any new borrower. Direct Loan/Graduate PLUS borrowers visit studentloans.gov to complete all MPNs and Entrance Counseling requirements. Requires FSA ID. Visit for details. Each document will expire after 10 years

7 Applying for Financial Aid Apply Annually FAFSA becomes available on October 1 st for the following year s FAFSA Free Application for Federal Student Aid (FAFSA) William D. Ford Direct Loan Request Form Credit-Based Loan Products: bumc.bu.edu/osfs/creditbasedloans Scholarship Opportunities: bumc.bu.edu/osfs/resources/scholarships

8 How Do I Request Living Expense Money? Submit a request through your Student Link You must repeat the process every time you have a new credit Requests reviewed no sooner that the first day of class expect the funds 3-4 business days later

9 Log into your Student Link Account and Select Money Matters

10 Select Student Account Inquiry

11 Select Request a Refund

12 Building Your Own Budget Planning Steps Identify your financial goals Estimate your expenses Determine borrowing needs not wants Do the math do you have a surplus or deficit? INCOME EXPENSES

13 Sample Budget: Total Living Expenses: $19,500 (Includes Room & Board, Personal & Transportation Allowances)* Monthly: $1,950 Sample Monthly Budget: Rent: $1,200 Utilities: $ 150 Food (includes eating out): $ 396 Phone: $ 100 Transportation: $ 140 Total Expenses: $1,986 *bumc.bu.edu/osfs/med/budget1718/

14 Building Your Own Budget Reducing Loans (Surplus) You can cancel or reduce any loan at any time during the academic year. Funds returned within 120 days of disbursement: The interest accrued will be cancelled. The fees assessed will be removed. After 120 days: You will be responsible for any accrued interest.

15 Building Your Own Budget Cost of Attendance Increase Appeal (Deficit) Complete Cost of Attendance Increase Form and submit supporting documentation Form available at our front desk & website in September Each request is reviewed separately based on the individual s unique situation RECEIPTS, RECEIPTS, RECEIPTS!

16 Financial Literacy Workshops Workshops that help with real life financial issues Personal budgeting and debt management Understanding your credit score & remain credit healthy Student loan repayment strategies Home buying process Steps to filing your income taxes Other topics

17 Additional Resources & Programs On-campus Financial Literacy Workshops AAMC s Website: AAMC First aamc.org/first Bureau of Labor & Statistics Financial Literacy and Education Commission bls.gov mymoney.gov accessgroup.org/access-assist saltmoney.org Public Service Loan Forgiveness studentloans.gov or myfedloan.org

18 Questions? Website: bumc.bu.edu/osfs/med