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How do I apply for federal loans?
Can I apply for a loan if I am receiving a fellowship?
It depends. Your total aid, including all loans, scholarships, and non-service stipends (such as a Dean’s Fellowship stipend), cannot exceed your cost of attendance (or “budget”). Service stipends, such as teaching and research fellowships, do not count towards your cost of attendance figure. Therefore, you may be eligible to take out a small loan for living expenses if you are receiving a service fellowship. Please contact at grsaid@bu.edu (and include your BU ID) if you have questions about this.
How do I calculate my “budget” or cost of attendance?
You can view the current academic year cost of attendance here. If you are enrolled in less than 12 credits, you must use the per-credit rate to calculate your tuition charges each semester. Please contact at grsaid@bu.edu (and include your BU ID) if you need assistance with determining your budget for the academic year.
Are there any resources related to private loans?
You are welcome to borrow from any lender of your choice. For some helpful information on credit-based loans, and comparison of some private loan programs, please see visit the information listed on the loans website. Please note that this is not intended to be an exhaustive list of loan options.
When and how can I access the loan funds for my living expenses?
Loan funds are credited to the student’s account and the earliest that a refund can be released to the student is the first day of classes. Keep in mind that academic year loan disbursements are split evenly between both semesters, and you may only request a refund for the current semester’s loans. You can request an electronic refund by submitting a Graduate Student Refund Request Form.