BU need-based scholarship eligibility is established the first year the student applies for and receives scholarship aid and it is guaranteed for each year of undergraduate study; that’s the BU Scholarship Assurance. Need is determined with information from the CSS Profile™ and CSS Institutional Methodology (IM) calculations, with some standard BU modifications. These calculations have proven to give a fair and reasonable assessment of a family’s financial strength. After the first year as a BU need-based scholarship recipient, the Profile™ is no longer required.

Family income is only one of several factors involved. Other important factors include the number of household members, the number of siblings (or certain other household members) attending college as undergraduates, and the financial assets of both student and parents. The BU calculation of total income usually excludes certain losses and includes certain types of tax-deferred income.

The Expected Family Contribution (EFC) consists of:

• A parental contribution, calculated from income and assets
• 25% of the student’s accumulated savings and other assets
• A minimum contribution from student earnings, usually from student employment.

Use our Net Price Calculator to help you estimate how much your family will be expected to pay.

Initial calculations may be revised, based on actual tax return information. Standard adjustments to Institutional Methodology (IM) formulas, made according to University policy, may also affect your demonstrated financial need.

Eligibility for federal financial aid is determined with the Free Application for Federal Student Aid (FAFSA) and federally legislated formulas. The formula produces a Student Aid Index (SAI) which is a measure of your eligibility.

BU need-based scholarship aid is renewed based on the terms of the BU Scholarship Assurance. After the first year, recipients are not required to file the CSS Profile™.

Federal and state funded financial aid is renewed each year based on the FAFSA, which must be filed each academic year.

BU is committed to meeting the demonstrated BU financial need of all admitted students entering college for the first time. Your demonstrated financial need is determined by the information from both the FAFSA and the CSS Profile and may be different than your FAFSA SAI. Students may still have expenses, either billed or unbilled, even with BU meeting their full demonstrated need.

Students can contribute to a portion of their cost of education and expenses while at BU through student employment. Reasonable and responsible student borrowing, where students are making an informed choice to invest in their education and future, can also be a great tool to contribute to the investment in your education.