2009-2010 Boston University Application Thread

[Encephalectomy]

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I had my CSS etc. done May 5th (hooray for email archiving), so I don't remember exactly when it was in, but probably early May. I would try to get it in as early as possible and give the FINAID people a call to see if you could get by with rough estimates of your parents info (unless there have been major changes, your parents tax return this year should be similar to their tax return last year).

For full disclosure, I didn't qualify for institutional aid, but I don't think that had anything to do with when my forms were in (parents make a fair amount of money and are helping with tuition, my wife works, and I worked before school, so I'm able to get by on just the federal loans).

 

[Rose123410]

I just received my financial aid package today. And, as I expected, it's mostly loans. Is anyone else grappling with whether paying the extra money to attend BU is worth it? Versus attending a state medical school? If you have any insight about this, please share! Thanks!

 

[Mandiblespeaks]

I just received my financial aid package today. And, as I expected, it's mostly loans. Is anyone else grappling with whether paying the extra money to attend BU is worth it? Versus attending a state medical school? If you have any insight about this, please share! Thanks!

Go with BU. In my humble opinion that is. Because you alone will carry the debt.

For me, I would rather eat the loans and be happy. Excited about my education in such an academically inspiring place. My thinking is that I will be happy dealing with 150-250 grand in debt if prefer my education and situation. But everyone has to make this choice on their own. I too have the option of going to a great state school. But medical school is a one time thing. I have been waiting to long for this.

Happier-->more inspired-->makes a for a well adjusted me---> better success etc etc.

That aside. People will fall on two sides of the line regarding this. Those who want to do research and or academic medicine and those who could care less. Those who could care less tend to dismiss rank/research/prestige etc because it isnt as pertinent to them. Not always though.

Best of luck. I have seen this question played out on SDN ALOT!!! And believe me, no one has yet to provide a simple solution or consensus.

 

[guyski79]

I just received my financial aid package today. And, as I expected, it's mostly loans. Is anyone else grappling with whether paying the extra money to attend BU is worth it? Versus attending a state medical school? If you have any insight about this, please share! Thanks!

I loved BU, but there was no way I could justify that much debt.

Withdrew yesterday.

 

[dw2158]

they had all my materials such a long time ago!!!! where is my package :cry:

 

[Mandiblespeaks]

they had all my materials such a long time ago!!!! where is my package :cry:

+1. I got faked out by a delayed "MyFapp application complete" email. SUCK

 

[OneMCATAway]

where are the rest of the waitlisters here? gave up already?

 

[OneMCATAway]

seems like i was right 😛

 

[Pri84]

where are the rest of the waitlisters here? gave up already?

I am still here!!!! WAITING TO HEAR!!! But I actually don't expect to hear anything until the end of May 🙁

 

[hasslefree]

I just received my financial aid package today. And, as I expected, it's mostly loans. Is anyone else grappling with whether paying the extra money to attend BU is worth it? Versus attending a state medical school? If you have any insight about this, please share! Thanks!

Debt is a huge factor... I work in a lab now with fellows and Asst profs all they talk about day in and day out is their debt and they wish now they'd pick the cheaper school as many of their contemporaries went that route have no debt and are in the same "Ivey" for fellowship and jobs!!!!

 

[Reekneee]

Just got my financial aid package, wasn't expecting to hear so soon!

Does anyone know anything about the Hayes Loan or the BUSM loan? Are they subsidized? What is the interest rate?

 

[Mandiblespeaks]

Just got my financial aid package, wasn't expecting to hear so soon!

Does anyone know anything about the Hayes Loan or the BUSM loan? Are they subsidized? What is the interest rate?

The BU loans are GREAT. Something like 3-5% only. And I could be wrong but I think you can defer through residency (maybe?) but the low interest rate is key. Grad plus are much much worse.

How were you notified?

 

[Reekneee]

The BU loans are GREAT. Something like 3-5% only. And I could be wrong but I think you can defer through residency (maybe?) but the low interest rate is key. Grad plus are much much worse.

How were you notified?

Really? Thats really good, I wish they would send you a little info about what the loans were with your package. I just got an e-mail today about it, had my application complete on April 15th.

 

[Mandiblespeaks]

Really? Thats really good, I wish they would send you a little info about what the loans were with your package. I just got an e-mail today about it, had my application complete on April 15th.

Nice. 🙂 I got it in near the deadline myself. They should be coming soon. Better then waiting for an acceptance.

😎 Boston University School of Medicine's Class of 2014!

The Ninjas!

 

[Reekneee]

Well I hope you find out soon! I was sure that I wasn't going to hear anything until May 7th or later with how things turned out with the acceptance decisions, but I guess they're quicker with this.

I just looked up the BUSM loans and its 5% interest but there is no interest charged until after you graduate!

 

[Mandiblespeaks]

Well I hope you find out soon! I was sure that I wasn't going to hear anything until May 7th or later with how things turned out with the acceptance decisions, but I guess they're quicker with this.

I just looked up the BUSM loans and its 5% interest but there is no interest charged until after you graduate!

What about during residency. And that is a better loan then you wil get anywhere else. Did you recieve a formidable amount of the BU loan? 👍😍

 

[Reekneee]

What about during residency. And that is a better loan then you wil get anywhere else. Did you recieve a formidable amount of the BU loan? 👍😍

It didn't say anything about residency, it said you have to start paying it off in June after you graduate I believe. I got a pretty good amount of BUSM loans, although I got more unsubsidized loans, but I'm actually pretty happy with my financial aid package. I was surprised.

 

[Mandiblespeaks]

It didn't say anything about residency, it said you have to start paying it off in June after you graduate I believe. I got a pretty good amount of BUSM loans, although I got more unsubsidized loans, but I'm actually pretty happy with my financial aid package. I was surprised.

Will you be visiting for 2nd look day?

 

[Reekneee]

Will you be visiting for 2nd look day?

Yep, you?

 

[seira]

I completed myfapp and sent in tax return informations by mid march, and I haven't received my financial package yet. Did everyone receive it already or are people still waiting?

For people who have received it, do you mind sharing how much BU grant and loan you received? I really want to go to BUSM next year but finance is obviously an issue so I want to know what I should expect. Thanks in advance!

 

[UncleAdam27]

I completed myfapp and sent in tax return informations by mid march, and I haven't received my financial package yet. Did everyone receive it already or are people still waiting?

For people who have received it, do you mind sharing how much BU grant and loan you received? I really want to go to BUSM next year but finance is obviously an issue so I want to know what I should expect. Thanks in advance!

Yup, I've been complete for almost two months now and still no word. I called the Financial Aid office today, and they said we should expect to receive an award decision within a week's time. So I hope I hear something soon... Not sure how they determine aid packages since people who filed their application way later than us have already received award letters.

 

[Mandiblespeaks]

Yep, you?

Definitely! See you there. 😎

 

[dw2158]

i've been complete for almost a month, and i emailed the financial aid office last night. they said i should expect to hear this week.

 

[UncleAdam27]

Just got my financial aid award decision via email. It's mostly institutional and federal loans, though I was offered $15K in scholarship money for the 2010-2011 academic year, so that's something

 

[dw2158]

Just withdrew. Hope a lucky WLer gets my spot. Peace, y'all.

 

[mdeast]

Just withdrew. Hope a lucky WLer gets my spot. Peace, y'all.

bad financial aid?

 

[dw2158]

bad financial aid?

bad, like they must have a made a mistake. my family contribution was $17,548. even at schools that gave me terrible, unsubsidized loan-heavy packages, my expected family contribution ranged from $3000-$5000. BU messed up. but i don't care enough to argue with them.

 

[Reekneee]

Just got my financial aid award decision via email. It's mostly institutional and federal loans, though I was offered $15K in scholarship money for the 2010-2011 academic year, so that's something

I got the same amount of scholarship, I was kinda surprised, I wasn't expecting any scholarships at all. Were you happy with your award?

bad, like they must have a made a mistake. my family contribution was $17,548. even at schools that gave me terrible, unsubsidized loan-heavy packages, my expected family contribution ranged from $3000-$5000. BU messed up. but i don't care enough to argue with them.

I had an expected family contribution much higher than I was expecting too, but my loans and scholarship covered everything which confused me...

 

[jturkel]

did you guys get your scholarship notifications with your financial aid package or earlier? like with your acceptance or soon following your acceptance?

 

[redsquareblack]

I got the same amount of scholarship, I was kinda surprised, I wasn't expecting any scholarships at all. Were you happy with your award?



I had an expected family contribution much higher than I was expecting too, but my loans and scholarship covered everything which confused me...

When you say your "loans and scholarship covered everything", what do you mean?

 

[UncleAdam27]

did you guys get your scholarship notifications with your financial aid package or earlier? like with your acceptance or soon following your acceptance?

The scholarship amount was included in the financial aid package, which also listed specific amounts offered in institutional loans, and any amounts left over that would have to be covered by federal funding.

When you say your "loans and scholarship covered everything", what do you mean?

I think what this means is that even though the Expected Family Contribution (EFC) may be $17K, the total breakdown of funding, including scholarship money and all institutional/federal loans adds up to the total Cost of Attendance (COA). AKA, they don't do COA-EFC, then breakdown your funding based on the difference.

 

[snkr]

Any current BU medical students ( especially out of state) have anything to say about their experience? I am choosing where to go and am having a very hard time with the decision since I did not spend much time at the school or in Boston ... thanks so much! ( and ie how do you deal with the cost?)

 

[redsquareblack]

I think what this means is that even though the Expected Family Contribution (EFC) may be $17K, the total breakdown of funding, including scholarship money and all institutional/federal loans adds up to the total Cost of Attendance (COA). AKA, they don't do COA-EFC, then breakdown your funding based on the difference.

Of course they do. That's why I'm asking what he/she means by "everything" being covered.

 

[UncleAdam27]

Of course they do. That's why I'm asking what he/she means by "everything" being covered.

By "everything", he/she meant "the entire COA". They offer you loans/scholarships to cover the entire COA, regardless of what your ECF is.

 

[dw2158]

Of course they do. That's why I'm asking what he/she means by "everything" being covered.

not of course. my loans + scholarship did not cover the whole amount, it covered the whole CoA *minus* my family's EFC. the government affords me the right to borrow the equivalent of my family's EFC, up to the total CoA, but that's not listed on what BU gave me.

 

[redsquareblack]

not of course. my loans + scholarship did not cover the whole amount, it covered the whole CoA *minus* my family's EFC. the government affords me the right to borrow the equivalent of my family's EFC, up to the total CoA, but that's not listed on what BU gave me.

No, I mean of course they subtract EFC from COA.

 

[UncleAdam27]

No, I mean of course they subtract EFC from COA.

Oh gotcha. My package outlined the entire COA, and didn't subtract out the EFC. Of course, a good chunk of the package was just eligibility for federal loans, which I obviously don't have to take out... but they still laid out everything as if assuming I would pay $0 out of pocket, giving me the option to reduce loans by any amount I would choose to pay up front.

 

[UncleAdam27]

bad, like they must have a made a mistake. my family contribution was $17,548. even at schools that gave me terrible, unsubsidized loan-heavy packages, my expected family contribution ranged from $3000-$5000. BU messed up. but i don't care enough to argue with them.

Yeah, my FAFSA EFC was $0 (Included parental info there as well), but for some reason my BU EFC jumped up to over $10,000. I think BU just expects you to conjure money from the gods to pay for your education... now if I could just remember the name of the god responsible for med school funding, I could get to making offerings...

 

[redsquareblack]

Yeah, my FAFSA EFC was $0 (Included parental info there as well), but for some reason my BU EFC jumped up to over $10,000.

Yeah, that's probably a reflection of the difference between the Federal and Institutional methodologies for determining EFC. Federal methodology uses your (and your parents') answers on the FAFSA, whereas Institutional also includes information from your CSS Profile.

One of the major differences between the two is that the Institutional methodology includes your and your parents' assets (e.g., the value of their house) in calculating EFC, which generally results in a higher value.

My assumption (incorrect though it may be) is that the Institutional methodology is used in determining how much institutional aid (scholarships, named loans) you can receive, while the Federal methodology is used for determining your sub/unsub Direct Loan eligibility. Obviously, you can borrow up to the COA, but the breakdown will be different depending upon your EFC.

I think BU just expects you to conjure money from the gods to pay for your education... now if I could just remember the name of the god responsible for med school funding, I could get to making offerings...

Tell me about it.

 

[Reekneee]

When you say your "loans and scholarship covered everything", what do you mean?

I meant that the loans and scholarships covered the entire cost of attendance, meaning they didn't subtract out my expected famiy contribution, which I thought was odd.

 

[Mandiblespeaks]

not of course. my loans + scholarship did not cover the whole amount, it covered the whole CoA *minus* my family's EFC. the government affords me the right to borrow the equivalent of my family's EFC, up to the total CoA, but that's not listed on what BU gave me.

DW,

There is a common misunderstanding amongst students regarding fin aid packages. I am not sure but I think you might be under the same misconception.

My EFC by most schools was covered by a GRAD plus loan. This is a common way to package the fin aid. But BU, and a lot of other schools, see this as unethical. You can not package with the Grad plus loans because they are credit based loans so anyone who sees that in their package and thinks "great, my total cost of attendance is covered," is making a somewhat incorrect assumption. BU does not package with grad plus loans because there are A LOT of other options for credit based loans and it really should be the choice of the student.

 

[seira]

Yey I finally got my financial aid! it was actually better than I expected it to be. Does anyone know the difference between Wolfson Loan and John I. Sandson Loan? I think I know what Wolfson loan but I don't know what John I. Sandson loan at all.

 

[dw2158]

DW,

There is a common misunderstanding amongst students regarding fin aid packages. I am not sure but I think you might be under the same misconception.

My EFC by most schools was covered by a GRAD plus loan. This is a common way to package the fin aid. But BU, and a lot of other schools, see this as unethical. You can not package with the Grad plus loans because they are credit based loans so anyone who sees that in their package and thinks "great, my total cost of attendance is covered," is making a somewhat incorrect assumption. BU does not package with grad plus loans because there are A LOT of other options for credit based loans and it really should be the choice of the student.

no, no, i totally understood that. i was just pissed because my EFC is 4-5 times what it was at other schools. i know that i am able to borrow up to the full CoA (in fact, i think i posted that yesterday).

 

[Otiose]

ooooh man worst financial aid package I've received yet.....definitely withdrawing.....so sad.....

 

[jturkel]

i'm gonna be withdrawing my spot. GL everyone and have fun in Boston

 

[OneMCATAway]

wow so many withdrawals, im starting to count of my chances a little 🙄

 

[Pri84]

wow so many withdrawals, im starting to count of my chances a little 🙄

I agree with you OneMCATAway... hopefully they will get to us!!!

 

[anfleisch]

Maybe we need a new poll?

 

[Mandiblespeaks]

wow so many withdrawals, im starting to count of my chances a little 🙄

Count up your chances?!


GO MDOG! WE WANT YOU AT BU!

 

[OneMCATAway]

I agree with you OneMCATAway... hopefully they will get to us!!!

Count up your chances?!


GO MDOG! WE WANT YOU AT BU!

aww thanks 🙂

Maybe we need a new poll?

go for it 👍