STH Financial Aid Orientation Presentation
Robyn Kinch, Financial Aid and Advanced Studies Officer
Suite 108, , 617-353-3045
* This presentation is available in Word format at http://www.bu.edu/sth/academics/financial-aid/
STH Tuition and Financial Aid Homepage: http://www.bu.edu/sth/academics/financial-aid/
• Information on financial aid by degree program
• Tuition and fees information
• Menu links to:
• Financial Aid Application Forms
• Scholarships and Outside Awards
• Loans and Future Annual Income
STH Financial Aid Application Process
• All students (including Dean’s Scholarship/Doctoral Fellowship recipients) must re-apply each academic year.
• For future academic years you must: (1) submit the STH financial aid application, (2) submit the FAFSA (required for tuition scholarships, required for any student who wants to borrow federal loans) (3) be registered and (4) have no previous semester balance on your student account. Aid cannot be processed until you have met all the requirements.
How long am I eligible for STH financial aid?
• Eligibility depends on your degree program.
• M.Div. – 3 years of full-time study
• MTS/MSM – 2 years of full-time study
• STM – 1 year of full-time study
• Ph.D. – 5 years of full-time study (2 years of coursework plus 3 years of continuing registration)
• For part-time students: 2 part-time semesters of financial aid equal 1 full-time semester of financial aid
Where is my financial aid?
• Have you completed all the application requirements (STH application and, if required, the FAFSA)? Your aid cannot be processed until you have completed the application process.
• If you have completed the application process, your aid will be processed as quickly as possible.
• Tuition Scholarships, Full Tuition scholarships and federal loans will go directly to your student account. Stipend payments will be made by check.
Your Student Account
• For information on your student account, visit the Student Link: http://www.bu.edu/students/.
• Use your kerberos password to log in then go to the Money Matters tab.
• On the Money Matters tab you can also waive the optional Sports Pass.
• If you have your own coverage, you can also waive the BU Medical Insurance: http://www.bu.edu/studentaccountingservices/resources/medical-insurance/comparable-coverage/.
Student Accounting/Payment Information
• All payments are made through Student Accounting Services.
• The payment deadline for new graduate students is Monday, September 15th.
• For information on payment plans, please contact Student Accounting Services:
• 881 Comm. Ave. lower level
• Take the T Outbound to the St. Paul Street (B Line) stop.
• 617-353-2264 http://www.bu.edu/studentaccountingservices/.
Why is my loan pending?
• Loans in transit may show as pending. The Office of Registration and Financial Aid can check the status of your loan.
Federal Loans
• All STH borrowers must complete a promissory note, entrance counseling, and financial awareness counseling even if they borrowed for a previous degree. Links can be found at: https://studentloans.gov/myDirectLoan/index.action. All three must be completed before loan credit will be released to you from your student account.
• Federal loans can be adjusted up or down during the academic year, depending on the student’s eligibility. Federal unsubsidized loans accrue interest as soon as they disburse so do not borrow more than you need.
Withdrawing Credit – loan credit is available beginning on September 2nd
• (1) Electronic Request – Student Link>Money Matters Tab>Account Inquiry
• Must provide valid bank account number for deposit
• Takes approximately 1-2 business days following your request
• OR (2) Student Advance Voucher
• pick up/turn in completed form in suite 108
• Requires minimum of 24-48 hours to process
• Pick-up completed form from suite 108 and walk it up to Student Accounting Services to receive check
• $4,000 maximum on first day of classes regardless of method
Helpful Resources
• http://www.bu.edu/smartmoney101/ - BU Smart Money 101. Information on budgeting, credit cards, and spending tips.
• http://www2.ed.gov/offices/OSFAP/DirectLoan/BudgetCalc/budget.html - Budget Calculator from the Federal Direct Loan site. You can find the 2014-2015 STH financial aid budget (which gives the tuition cost and estimates on other educational and living costs) here: http://www.bu.edu/sth/academics/financial-aid/loans-and-future-annual-income/. The STH financial aid budget will help you fill in information when using the Budget Calculator.
• https://www.nslds.ed.gov/nslds_SA/ National Student Loan Data System. You can view your loan history here.
• https://studentaid.ed.gov/repay-loans/understand/plans/ Loan Repayment Estimator and other repayment information.
• http://www.feedthepig.org/ - Feed the Pig. Find free savings tips, tools, and resources.
Loan Deferment
• If you have borrowed loans from a previous degree program, contact the Office of the University Registrar for assistance:
• 881 Comm. Ave. 2nd Floor
• 617-353-3612
• http://www.bu.edu/reg/
Work Study/Perkins Loan
• STH receives a very limited budget for both items. Both Work Study and Perkins Loans are federally-funded programs.
• Preference given to returning students and remaining funds awarded to incoming students with the greatest need on a first-come first-served basis. Due to the limited nature of these funds, students are not re-evaluated for them in subsequent academic years if they do not receive them upon entry to STH.
Questions?
• To make an appointment with Robyn to discuss financial aid questions, please go to suite 108, email , or call 617-353-3045.
• To contact the Office of Registration and Financial Aid main number, call 617-353-3053 or email .
• Dean Lightsey – Student Affairs & Personal Concerns; 617-353-3050
• Dean Stone – Academic Concerns; 617-353-3050
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