Boston University is an excellent university located in Boston, Massachusetts. Currently, the university has over 16,000 undergraduates and 15,000 graduate students in attendance, and these students study in hundreds of different majors offered at the university. In this article, we will be looking at Boston University scholarships and financial aid so that you can finance your education.
Cost of Attendance
The cost of attendance at Boston University is the same for both in-state and out-of-state since it is a private university. The tuition fee is approximately $55,000, room and board are about $16,000, and including personal expenses, the total cost of attendance at BU is estimated to be $75,000 per year.
Please note that this cost is without Boston University scholarships and financial aid that are offered to many of its students. Per year, Boston University awards over $260 million in financial aid for its students. About 90% of these funds were need-based aid, and the average financial package was approximately $50,000 per year. If you have more need, you will receive more, and if you don’t, you will receive less.
Although the majority of the financial aid at Boston University is need-based, there are also some major awards that are merit-based. So, let’s take a look at these scholarship opportunities!
Boston University Merit Scholarships
Boston University has several types of merit scholarships available to its incoming freshmen. Please note that these awards are based on aspects such as academic achievements, leadership potential, SAT/ACT scores, and extracurricular activities. These are not awarded based on need.
1. Trustee Scholarships
Each year, top twenty students receive Trustee Scholarships, which is a full tuition and fees scholarship for all four years. This is the most prestigious type of scholarships that are offered at Boston University. To apply, you will need to submit your application by December 1 and also submit the 600-word supplemental essay on the Common Application.
You will have to be an excellent student to receive this scholarship. Typically, students that have received this scholarship in the past have scored above 1500 on the SAT and 33 on the ACT as well as receiving a 4.0 GPA or above. Also, notable extracurricular activities and leadership position helps.
2. Presidential Scholarships
This is a $25,000 a year for four years scholarships that are offered to the top 3% of the incoming freshmen each year. There is no supplemental application that needs to be submitted, but you do need to submit your Common Application to Boston University by December 1.
3. National Merit Scholarships
For students who are National Merit Finalists, they are eligible to receive $25,000 a year scholarship if they chose Boston University as their first-choice institution.
4. Thomas Menino Scholarship
This scholarship is given to students who have graduated from Boston public high schools. It is a full-tuition scholarship that is renewable for all four years of attendance.
There are other merit scholarships that are awarded to incoming freshmen. You can see these awards at the Scholarships Page.
Boston University Need-Based Grant
Now let’s look at grants that are awarded based on need. Although these are need-based, you will need to have certain academic achievements to receive these awards. In other words, if you have done poorly during high school but have much financial need, they will likely not award you with an aid that covers the entirety of your financial need. However, if you have excelled in high school, they will most likely cover the entirety of your financial need.
1. Boston University Grants
This is the most general grant, and the biggest source of financial aid for most students. It comes from the funds set aside by Boston University to give aid to students.
2. BU Community Service Award
This award is given to students who have graduated from Boston public high school and who have demonstrated a commitment to community service. Students who have received this award will receive non-loan aid up to the demonstrated financial need calculated by CSS Profile and FAFSA. Also, the award covers the increase in tuition in the future years.
3. Richard Cohen Scholarship
This scholarship meets the demonstrated financial need of the applicant calculated through the FAFSA and CSS Profile. It is awarded to students with outstanding academic achievements with great financial need. If you require a fully-funded scholarship (full tuition, room, and board) according to CSS Profile and FAFSA, you will be given that amount if you receive this scholarship. Also, students will be awarded money to cover increased tuition.
4. Alumni Council Scholarship
Students whose immediate family member is an alumnus of Boston University and also demonstrated need will be given $2,500 a year scholarship.
I hope that this list of need-based scholarships offered at Boston University was helpful. You can find more information on Need-Based Aid Page!
Additional Financial Package
There is additional aid that is given to students who demonstrate need. These include federal grants, student loans, and work-study. Federal grants do not need to be repaid, student loans do need to be repaid, and work-study is a part-time job on campus. You might receive some or all of these types of aid.
How to Apply for Aid
To apply for aid, you will need to file CSS Profile and FAFSA by the financial aid deadline. As stated before, these forms ask you questions about your and your family’s finances to determine the Expected Family Contribution (EFC). Then, the cost of attendance minus EFC is your demonstrated need.
For Early Decision 1, the deadline is November 1, and for Early Decision 2 and Regular Decision, the deadline is January 6. These forms are available starting on October 1, so you should submit these as soon as they become available!
I hope that this article on Boston University Scholarships and Financial Aid was helpful. If you are from Massachusetts, I highly recommend that you visit the Massachusetts Scholarship Category, and if you are not from Massachusetts, you should visit Authority Scholarship Website and look at the universities in your state. These will be most likely to be affordable to your family.
