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Cost of Attendance
The total cost of attendance at the Boston College Law School includes fixed and estimated expenses for the nine-month academic year. Fixed expenses include tuition and fees. Estimated expenses include room and board, books, travel, and personal expenses. Boston College bills students electronically for fixed expenses. Fall semester bills are sent in June and are due in August. Spring semester bills are sent in November and are due in December. For more information see the Online Billing and Payment section on page four of this newsletter.
Living expense amounts listed below are estimates since actual amounts will vary based on a student’s living arrangements and associated costs. A student’s actual academic year budget may be less than listed below. Therefore, students should plan their budgets wisely and borrow conservatively, keeping in mind that loans have to be repaid.
Dependent Care Expenses
Boston College will increase the budget by $1,800 per dependent for applicants with children under the age of sixteen.
Other Budget Adjustments
Please be aware that indirect costs may not be adjusted within the total budget except for special circumstances. Applicants should save all receipts associated with non-standard educational expenses (unreimbursed medical and/or dental) in the event a budget appeal is required during the academic year.
Determining Your Award
Your award has been prepared after a careful review of the financial aid materials submitted to our office. Your eligibility for all sources of aid has been calculated based on this self-reported data. We have applied the federal need analysis formula to evaluate your eligibility for federal assistance. Your eligibility for Boston College aid was based upon institutional methodology, availability of funding, and timeliness of your application.
Verifying Your Award
Once all of the required documentation is received, all application materials will be reviewed. If the verification process results in a change in your eligibility, your initial financial aid offer will be recalculated and a revised award letter will be mailed to you.
Your Right to Appeal
A recipient has the right to appeal a financial aid award. Before making an appeal, however, understand that Boston College has already awarded the best financial aid package available based on the information supplied. However, if errors are made in the annual reporting or calculation of data, or if student circumstances change, aid awards can be reconsidered. Any request for a review must be in writing with supporting documentation attached. Written appeals should be sent to the Assistant Director of Financial Aid at the Law School. A written response can be expected within two to three weeks of the receipt of the appeal.
Financial Aid Programs
The resources you have been offered in your award
letter are described in this booklet. To ensure proper
processing of all assistance, carefully review the instructions described under each program. Please note that your aid will be disbursed to your account in two equal installments, each just prior to the beginning of the fall and spring semesters. Loan proceeds do not credit your account at Boston College until the money is received from the lending agency. If your loan proceeds do not arrive in time for registration, deferment of payment for the net amount of the first disbursement(s) is granted provided the loan is processed and approved.
Important: Refunds will not be available to students until the first week of classes. Therefore, students must be prepared to meet all living expenses prior to financial aid being disbursed and any refund that you are due is available. Refunds may be requested through Agora at http://agora.bc.edu/.
Institutional Funding
Note: Some or all of the awards you receive may be taxable. Please consult the Internal Revenue Service (IRS) or a tax professional for further information about your specific tax situation.
Boston College Law School
Dean’s Scholarship
This scholarship program is awarded on the basis of academic merit and is renewed for the second and third year of law study if the student remains in good academic standing. Once the award is verified, the funds will be credited automatically to the student’s account at the beginning of each semester.
Scholarships and Grants
The scholarship and grant programs are awarded on the basis of merit and need, and are renewed annually if the student maintains need and has filed an on-time financial aid application. Once the award is verified, these funds will be credited automatically to the student’s account at the beginning of each semester.
Boston College Law School
Endowed Scholarships
These scholarships are identified by name in accordance with specific criteria established by the donor. Notice of these awards is sent directly to the student by the Law School and will be considered part of the student’s need-based aid package. Depending on the timing of the award, it is possible that adjustments to your award will be made after the start of the academic year.
Public Service Scholarship
This scholarship is awarded through an application process to highly qualified students who plan to practice law in service of the public. This program encourages students to seek careers in the public sector, notwithstanding the expense and associated debts of their legal education and the relatively low salaries associated with such careers. This award is renewable, pending receipt of documentation by the Law School Admissions/Financial Aid Office which is due by August 1 each year.
Boston College Law School
Loan Program
There are no fees associated with this need-based loan and no interest accrues until repayment begins six months after graduation or leaving school. The Law School Loan has a ten-year repayment period and carries a fixed 5% interest rate. The maximum award per academic year is $5,000. Students will be sent an email to their BC email accounts in August about e-Signing their promissory note. Only after the promissory note is processed will funding be credited to the student’s account in two equal disbursements: one disbursement per semester.Failure to sign for the loan during the stated period will result in cancellation of the award.
Federal Funding
Subsidized Federal Stafford Loan
The subsidized Federal Stafford Loan is a need-based loan made to students attending school at least half-time. Law students may be eligible to borrow up to $8,500 per year. The interest rate for new loans is a fixed rate of 6.8%. For borrowers prior to July 1, 2006, the interest rate varied depending on which year you borrowed. Because the federal government subsidizes the loan, no interest accrues during the in-school deferment period. Repayment begins six months after a student graduates or ceases to be enrolled at least half-time. An origination fee of 1% may be deducted from the loan. In addition, a Federal default fee of 1% may also be deducted.
Unsubsidized Federal Stafford Loan
Students may be eligible to borrow up to $20,500 minus their subsidized Stafford eligibility, through this federal loan program. The interest rate and repayment terms are identical to the subsidized Federal Stafford Loan except that interest accrues during the in-school period. Repayment begins six months after a student graduates or ceases to be enrolled at least half-time. An origination fee of 1% may be deducted from the loan. In addition, a Federal default fee of 1% may also be deducted.
How to Apply for Federal Stafford Loans
Once your eligibility for a Federal Stafford loan has been verified, the loan certification is transmitted electronically to American Student Assistance (ASA), the Massachusetts loan guarantor. ASA is the oldest Federal Family Education Loan Program (FFELP) guaranty agency in the country. They are a non-profit organization funded by the U.S. Department of Education. ASA delivers quality default prevention, guarantee, origination, and fund delivery services to students, parents, schools, and lenders nationwide. ASA’s unique, pro-active Wellness programs help students and their parents manage higher education debt successfully.
For new borrowers, ASA will prepare an electronic Master Promissory Note (MPN) and send you a letter explaining their electronic signature process as well as the process for selecting a lender. This MPN is valid for ten years. Returning students do not need to E-sign unless they are selecting a new lender. Since Boston College participates in the FFELP Stafford Loan program, each student must select their own lender and is free to choose any lender that participates in the FFELP process. The basic terms of the loans (maximum interest rate, mandatory fees, deferment options) are set by the federal government. However, many lenders offer additional benefits to borrowers. The Boston College Financial Aid staff encourage you to compare the loan benefits offered by different lenders so that an informed choice can be made.
To make the selection process easier, Boston College has selected a group of lenders for our Preferred Lender List. If you select a lender from this list, you can be assured that you will receive outstanding borrower benefits and customer service. For additional information on the selection process, please visit the Preferred Lender Selection Process webpage to select a lender. You may select a lender from this list, or any lender you choose.
Once you have determined which lender you’d like to use, click on the ASA link. Once you have logged into the ASADirect system, and followed their step-by-step instructions for setting up a username and password, you will be asked to select a lender from a drop-down menu. If the lender you want is not on this list, you have the ability to select any other participating lender from ASA’s lender list. Once you have made your choice, authenticated your identity with your FAFSA pin, and "signed" your MPN, ASA will process your loan and notify Boston College when the loan is ready to be disbursed. Additionally, all new borrowers must complete Entrance Counseling, which is available online or through your Agora services account. This involves reading information and answering questions about rights and responsibilities of borrowing a Stafford loan. This is a federal requirement which must be fulfilled before your Stafford loan can be disbursed.
Please note that you may also choose a non-ASA lender. To do so, you must contact that lender directly and have them forward a Master Promissory Note directly to Boston College.
Prior borrowers (students who have previously borrowed a Stafford loan while enrolled at Boston College) will have their prior lender assigned automatically. If you wish to select a new lender, you may do so by contacting the Student Services Office directly.
If you wish to borrow less than what you have been awarded, indicate on the award letter the amount of the funds that you want to borrow. Federal regulations require all lending institutions to disburse Federal Stafford Loans for an academic year in two substantially equal amounts. A Federal Stafford Loan does not credit the bill until the electronic fund transfer or check is received.
Federal Perkins Loan
This federal loan is awarded to students with exceptional financial need. There are no fees associated with the Perkins Loan, and, for new borrowers, repayment of principal and interest (fixed 5%) begins nine months after the student ceases to be enrolled at least half-time. Repayment may be spread over ten years and deferred or cancelled under certain conditions. The maximum award per academic year is $6,000 based on available funding.
If you are a new borrower, you are required to complete a Master Promissory Note (MPN) and related materials. This is an electronic process and specific instructions will be emailed to you at your BC email address once the financial aid verification process is complete. If you are a prior Perkins borrower at BC, you do not need to complete another MPN. The financial aid verification process must be complete and all promissory notes must be signed before any disbursements can be made to your student account. Disbursements are made in two equal amountsone each semester. If increases or new loans are awarded, you will not receive a new MNP as the original MPN is valid for all additions to the original award. Failure to complete any required paperwork during a stated period will result in the cancellation of your award.
Student Employment Opportunities
Federal Work-Study (FWS) is a federally subsidized employment program that provides funding for students to help them meet college expenses (including personal expenses, travel, etc.). It provides students with job opportunities on- or off-campus, including community service. FWS is awarded based on availability to students with federal eligibility. The amount indicated on the award letter is maximum eligibility and not a guarantee. This amount is not deducted from the bill. Actual earnings depend upon whether the recipient participates in the program, the hours worked, and the pay rate of the position as determined by the University. FWS recipients receive first consideration for available campus positions. A FWS award does not guarantee students an on-campus job.
Campus employment is a separate option allowing students to hold part-time jobs on campus to help them meet college/living expenses. Students do not need to apply for financial aid to work through this program. Students in either program may work no more than 20 hours per week while school is in session. When school is in recess, students may work up to 40 hours per week if the job and funding permit.
Boston College provides on-campus student employment opportunities in many University departments. In addition, we partnered with CollegeHelpers.com which makes off-campus job listings available to enrolled Boston College students. For information about student employment, visit http://www.bc.edu/studentemployment/.
Alternative Loans and Other Financing Options
PLUS Loans for Graduate and Professional Students
Graduate or professional students are eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other financial assistance the student receives. Students must be enrolled at least half-time and must meet all of the other general eligibility requirements for the Federal Student Aid programs. In addition, another requirement includes a determination that the applicant does not have an adverse credit history. This loan has a fixed interest rate of 8.5%, a 3% origination fee, and repayment begins after the loan has been fully disbursed. However, students can postpone payments while enrolled at least half-time. Applicants for this loan are required to complete the Free Application for Federal Student Aid (FAFSA). They also must have applied for their annual loan maximum eligibility under the Federal Subsidized and Unsubsidized Stafford Loan Program before applying for a Graduate/Professional PLUS Loan.
Alternative Loans
Students may choose to finance the balance of their cost of attendance (budget minus financial aid) through alternative loans. These loan options include home equity, educational, and personal loans. In deciding which loan option to explore, please note that home equity loans may be tax deductible. The interest paid on educational loans may be tax deductible. Consult the Internal Revenue Service (IRS) Publication 970 or a tax professional for further information about your specific tax situation. For all of these options you, and/or your co-borrower where required, must have good credit to receive these loans. Information about private educational loans can be found on the Law School’s Financial Aid website.
When comparing loan programs, we recommend that you consider the different repayment, deferment, and capitalization of interest options, and borrow only the amount that you will need for this academic year.
As it normally takes three to six weeks to process these loans, we recommend that you file an application for an alternative loan by July 1 to ensure processing by the billing due date in August. The Financial Aid Office at the Law School, as well as Student Services, will be happy to answer questions regarding these options or you may contact the lending organization directly. Applications should be sent to the Financial Aid Office at the Boston College Law School.
Outside Aid—Exploring Other Resources
Outside aid refers to any aid program, outside the control of Boston College, from which a student may receive aid. Corporations, foundations, local bar associations, service organizations, religious groups, parent and school associations, and other organizations sponsor educational assistance programs. These awards can be based on any number of criteria and usually require a separate application sent directly to the agency. If the remarks section of the award letter includes an estimate, we have calculated an award based upon previous data/awards or application information submitted to our office. Outside aid recipients are responsible for providing copies of award notices and notifying our office if your award will be different from the estimate. Deferment of payment is possible provided Student Services also has received a copy of the award notification.
The Law School Financial Aid Office maintains current information on some of these scholarships, however, your local library and the Internet are often better resources. One of the Internet’s largest free scholarship searches is located at http://www.fastweb.com/. In addition, TERI College Access maintains information on a number of outside resources, and can be reached at 617-536-0200 or toll-free in Massachusetts at 877-332-4348. If you prefer the Internet, their address is http://www.tericollegeaccess.org/.
Please note that a student who receives funds from an outside source may have an adjustment made to his or her award to ensure that the total of all resources is within the calculated cost of attendance.
Online Billing and Payment
Boston College utilizes online billing and payment service. Online billing and payment will provide you with a faster, more convenient, and more flexible means of paying tuition and fees. For more
information about online billing, http://www.bc.edu/mybill/ where you will find instructions and frequently asked questions.
Other Payment Options
Boston College also offers the Tuition Management Systems monthly payment plan. Tuition Management Systems’ Interest-Free Monthly Payment Option allows you to spread your education expenses over monthly installments for only a small enrollment fee. For more information or to enroll in the Interest-Free Monthly Payment Option, visit Tuition Management Systems’ website at http://www.afford.com/bc/ or call 1-888-216-4258 and speak with an Education
Payment Counselor.
Conditional Financial Aid Award Letter
Does your award letter indicate that your financial aid is conditional for this academic year? You may determine what additional information is needed to complete your application if you are an incoming student or your Agora account if you are a continuing Law student.
Students should send all correspondence and documents to the Boston College Financial Aid Processing Center, P.O. Box 489, Randolph, MA 02368. Alternative education loan applications should be sent to the Financial Aid Office at the Boston College Law School. Please retain copies of all materials for your records.
For More Information
Further information regarding financial aid at Boston College and links to other useful websites are available on-line at http://www.bc.edu/financialaid/. Students should direct questions regarding the information contained in this booklet to:
Law School Financial Aid Office
Stuart House M301
Newton, MA 02459
617-552-4243
Office Hours: Monday through Friday 9:00 A.M. to 5:00 P.M.
Office of Student Services
Lyons Hall
Chestnut Hill, MA 02467
617-552-3300 or 800-294-0294
Walk-In Service: Monday through Friday
9:00 A.M. to 5:00 P.M.
Limited walk-in service available until 6:30 P.M. on Wednesdays during the academic year (excludes vacation periods).
Phone Service: Monday, Tuesday, Thursday, and Friday
9:00 A.M. to 4:45 P.M.
Wednesday
9:00 A.M. to 3:45 P.M.
Back to Main Online Financial Aid Award Information Page