Student Financial Services Presented by: Emir Morais, Associate Director Scott Harrison, Assistant Director Barbara Attianese, Housing Resources Manager / Senior Financial Aid Advisor
Student Financial Services (SFS) Locations: Building A-303 SFS Office Hours Monday Friday 8:30 A.M. 5:00 P.M. Phone: 617-638-5130 Email : osfs-sph@bu.edu Web: www.bumc.bu.edu/osfs/sph/
Housing Resources Barbara Attianese Housing Resources Manager Building A-311 Phone: 617-638-5125 Email: ohr@bu.edu Web: www.bumc.bu.edu/ohr/
Financial Literacy Sessions Sept. 16: Military Scholarships & Loan Repayment Programs Nov. 6: Home Financing and the Purchase Process Dec. 10: Traveling on a Shoestring Budget More sessions will be added for 2014-2015
Monthly SPH Listserv Notification Be sure to always check your BU email address. The monthly SFS Listserv notification will keep you informed of current financial aid tasks and what tasks are coming the following month. SFS Listserv notification is typically issued during the middle of the month.
Applying for Financial Aid Apply Annually application instructions are available to students during February. Free Application for Federal Student Aid (FAFSA) complete online Continuing Student Application for Financial Assistance standard MPH Program William D. Ford Direct Loan Request Form Dual Degree and all other programs Scholarship Link: www.bumc.bu.edu/osfs/finaidalerts
Applying for Financial Aid First year students in the MPH program may be awarded Need-Based Scholarship funds if eligible. Continuing students that have received their full needbased scholarship amount may be eligible for a low interest loan directly from BU when funding is available. Financial Aid awards for graduate level students are based on available funding as well as student income information. Therefore you should not expect the same award every year.
Graduate PLUS Loans The Graduate PLUS Loan is a supplemental loan. You can apply for a PLUS loan after you have been awarded federal Direct Loans. There is a credit check for the loan. If you are denied you will receive information directly from the federal processor regarding steps to appeal the decision. You may need to add a cosigner to the loan. The application is available to download off our website. We need to receive the original form for processing.
Private Credit-Based Loans Credit-based Loan Products 2014-2015: www.bumc.bu.edu/osfs/creditbasedloans Choosing a Private Loan: Interest Rate Terms and Conditions Repayment Options Customer Service Co-Signer Release
Certifying Private Loans Most lenders automatically inform our office once your loan is ready for certification. If your loan has not been certified: Check with the lender to make sure everything is complete. Allow 10 business days for SFS to certify the loan. SFS typically certifies loans once a week. Email osfs-sph@bu.edu.
Helpful Hint: Credit Reports PLEASE REMEMBER: www.annualcreditreport.com is FREE www.freecreditreport.com is NOT FREE Subscription site that obtains one of the three credit bureau reports Then tries to sell you the reports from the other two credit bureau sites
Applying for Financial Aid International Students Students who have a change in visa status to Permanent Resident or Eligible Non-Citizen while enrolled may become eligible to receive Federal Direct Unsubsidized Loans. Contact SFS by email if this occurs at osfs-sph@bu.edu.
The Master Promissory Note (MPN) & Entrance Counseling Required for any new SPH borrower. Direct Loan/Graduate PLUS borrowers visit www.studentloans.gov to complete all MPNs and entrance counseling. Requires federal PIN number. Visit www.pin.ed.gov to obtain, change or to request a duplicate PIN.
The Exit Counseling Session Required of students who borrow loans during enrollment: When you graduate, enroll less than half-time (6 credits), take a leave of absence or withdraw. SFS is notified of students intending to graduate provided students complete their graduation paperwork on time. If you withdraw, take a leave of absence, or do not file your graduation paperwork on time you must contact SFS for exit counseling.
Reducing Loans I ve borrowed too much! Students have until the end of the semester to adjust loan amounts. SFS will notify you at your BU email address when a deadline for changes is set towards the end of the semester. You will not be responsible for interest that has accrued if you reduce your loan within 120 days of the date of disbursement.
Direct Deposit How Do I Request Living Expense Money? Submit a request through the Student Link. You must enter a value of $1.00 or higher; we will send the total available credit to you. You must repeat the process every time you have a new credit you wish to receive. Funds will be released after the first day of class for the semester. The majority of students receive their funds on the second or third day of class.
Log into your Student Link Account and Select Money Matters
Select Student Account Inquiry
Select Request a Refund
Building Your Own Budget Identify your financial goals Identify your resources Estimate your expenses be realistic Determine borrowing needs, not wants Do the math do you have a surplus or deficit? Evaluate impact of planned borrowing then adjust as needed
Building Your Own Budget Sample Budget: Based on 14-15 Budget Total Living Expenses: Includes Room & Board, Personal & Transportation Allowances. $16,551 for 2014-2015 Per Month: $1839 per month 9 months Sample Monthly Budget: Rent: $1,000 Utilities: $ 150 Food: $ 400 Phone: $ 90 Transportation: $ 100 Total Expenses: $1,740 ($99 remaining)
Building Your Own Budget Cost of Attendance Increase Appeal Complete Cost of Attendance Increase Form and submit supporting documentation: Form available at our front desk or our website Commonly approved items: One-time computer purchase Limited increases for rent Childcare expenses When in doubt - ask!
Helpful Websites www.mymoney.gov Financial Literacy and Education Commission website. www.bls.gov Bureau of Labor Statistics website. www.mint.com Budgeting website. www.studentloans.gov Federal Loan website.
Questions and Answers