applying for graduate financial aid
Once you receive your first bill, it should tell you the exact amount due for the first semester and it is your cue to take action on your account.
Please note that your award letter is not the same thing as your bill. Please visit the links below for samples of each document. We've included notes that we hope you will find helpful!
Before you enact your plan, there's just a couple more things you should know about your bill:
- We do not mail paper bills. Bills are sent electronically to your BC e-mail address.
- Please keep in mind that although the bill is for one semester, your plan should be for the year.
- All charges are semester-specific.
- The charges reflected on your bill are based on your current registration for that semester.
- The aid reflected on your award notification is based on what you reported to us on your Boston College Graduate Financial Aid Application.
If either your current registration or what you reported is expected to change, please let us know so that we can provide more accurate information.
Checking Your Estimate
Assuming your registration is the same for the fall and spring semesters and that you will waive the health insurance, doubling your fall bill is a good way to get a second estimate of what you will need for the year. If you are taking summer classes don't forget to include them in your estimate.
Action Items: Cover Your Balance
Once you know how much you need for each semester and therefore the year, implement your plan! This may include any combination of the following:
- If needed, set up your payment plan
- Complete your Master Promissory Note and Entrance Counseling
- Apply for your loan for the year
- Note: Do not apply for any PLUS loans until after July 1 if you are starting in the fall! The credit check for the PLUS loan is valid for 180 days and credit must still be valid when classes start for the semester. The credit decision for the PLUS loan typically takes about 24–48 hours. It is recommended that you submit your application approximately two weeks before the bill due date.
- Send us copies of your outside scholarship award letters each year
- Make a payment to your account
- Waive the health insurance if applicable
At this point you should have your balance covered through either pending financial aid or payments made to your account.
Once you see a $0 or negative "balance" on the account, there are only a few more things to do in the: