STUDENT FINANCIAL SERVICES · 2017-08-04 · Student Financial Services •Located in B-401 (Robinson Building) •SFS Office Hours: •Monday –Friday, 9:00 A.M. –5:00 P.M. •617-638-5130

STUDENT FINANCIAL SERVICES

Presented by:

Drew Sands, MBA

Assistant Director

Emir Morais, MPA

Associate Director

Student Financial Services

• Located in B-401 (Robinson Building)

• SFS Office Hours:

• Monday – Friday, 9:00 A.M. – 5:00 P.M.

• 617-638-5130

• [email protected]

• bumc.bu.edu/osfs/med

Our Team

Lisa Nguyen

Administrative AssistantSandia 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

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

BU Real Estate:

bu.edu/realestate

BUMC Housing Resources:bumc.bu.edu/ohr

Contact: Jonathan Brett

Housing Resources Manager &

Senior Financial Aid Advisor

Phone: 617-638-85125 Email: [email protected]

FAQs: bumc.bu.edu/ohr/faqs

BUMC Housing Resources

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 https://studentaid.ed.gov/sa/fafsa/filling-

out/fsaid#fsaid-intro for details.

• Each document will expire after 10 years

Applying for Financial Aid• Apply Annually

• FAFSA becomes available on October 1st 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

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

Log into your Student Link Account and Select “Money Matters”

Select Student “Account Inquiry”

Select “Request a Refund”

Building Your Own BudgetPlanning 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

Sample Budget: 2017-2018• 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/

Building Your Own BudgetReducing 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.

Building Your Own BudgetCost 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!

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

Additional Resources & Programs• On-campus Financial Literacy Workshops

• AAMC’s Website: AAMC First aamc.org/first

• Bureau of Labor & Statistics bls.gov

• Financial Literacy and Education Commission mymoney.gov

accessgroup.org/access-assist

saltmoney.org

• Public Service Loan Forgiveness studentloans.gov or myfedloan.org

Questions?

Email: [email protected]

Website: bumc.bu.edu/osfs/med