Financial Aid
Financial Aid for Graduate Students
For many students, financial assistance is essential in funding their education. Our goal is to ensure that all students with the drive and determination to complete our professional programs have the opportunity to do so.
As a Boston University student, you may be eligible for graduate financial aid in the form of Federal Student Loans such as the Direct Stafford Loan or Graduate PLUS Loan, private educational loans, assistantships, or scholarships.
Federal Financial Aid
Applying for federal financial aid is as simple as one-two-three (and four). As a graduate student, you may be eligible for two types of federal financial aid - the Federal Direct Stafford Loan or Graduate PLUS Loan.
To be eligible for Federal Financial Aid, you must:
- Be a United States citizen or permanent resident
- Have been accepted into a degree program
- Be making satisfactory academic progress (3.0 GPA)
- Have no drug convictions
- Not have met or exceeded the maximum borrowing limit ($138,500)
- Have no prior loan default
- Enrolled at least part-time (2 classes)
The Federal Direct Stafford Loan is a low-interest loan for graduate students available for face-to-face, online and blended-format classes. The maximum amount that can be borrowed every two semesters is $20,500 (or $10,250 per semester). You may qualify for:
- Subsidized: No interest is charged until the repayment period begins (six months after student falls below half time). The subsidized maximum is $8,500.
- Unsubsidized: Interest must be paid or capitalized during periods of in-school enrollment.
Requesting a Federal Direct Stafford Loan is as simple as one-two-three (and four).
Step 1 - Complete the FAFSA (Free Application for Federal Student Aid)
- Complete online: www.fafsa.ed.gov
- Must be completed every year
- Federal school code for BU: 002130
Step 2 - Fax in Loan Request Form
- Available on the MET financial aid website-visit www.bu.edu/met/financial_aid
- Must be faxed in to 617.353.4190
Step 3 - Complete Entrance Counseling
- Available online
- Includes tutorial and quiz
- Provides information and terms to help you make the right choices
- Must be completed by first-time borrowers at Boston University
- Helps you understand your rights and responsibilities as a student loan borrower
Step 4 - Complete Master Promissory Note
- The MPN is a statement of repayment that is completed online
The Graduate PLUS Loan is a credit-based loan that covers the cost of attendance (such as tuition, books, living expenses, etc.) There are four steps to applying to requesting a Graduate PLUS Loan:
- Step 1 - Complete the FAFSA (Free Application for Federal Student Aid)
- Step 2 - Fax in Graduate PLUS Loan Request Form
- Step 3 - Complete Graduate PLUS Entrance Counseling
- Step 4 - Complete the Graduate PLUS Master Promissory Note
Alternate Loan Options
There are many private institutions that lend money to part-time working professionals to cover educational expenses. Private loans are available for less than half-time study, non-degree seek students, and are also available to international students (must have a U.S. citizen/permanent resident co-signer). To learn more, please visit www.bu.edu/finaid/loans/credit/grad-other/index.html.
For additional questions, please contact an Enrollment Advisor by phone at 617.358.3993 or by email at finanaid@bu.edu.
Scholarships
There are many different types of public and private scholarships available to a diverse range of students. While there are currently no scholarships available at BU, opportunities may be available from outside sources. They usually require applicants to meet specific academic, social, or economic requirements that are unique to each scholarship program.
Be sure to thoroughly explore all scholarship materials for detailed requirements and disbursement information. You can conduct a free scholarship search at www.FederalStudentAid.ed.gov/funding.



