Federal Loan Options

If you’re a US citizen or permanent resident, pursuing a master’s degree program at BU School of Hospitality, federally supported loans are an option available to you. There are two loan options available to both part-time (8 credits) and full-time (16 credits):

• Federal Unsubsidized Direct Loan
• Federal Graduate Plus Loan

If you are an incoming or current SHA graduate student, please schedule an appointment with our academic services team to discuss your option, here.

Federal Unsubsidized Direct Loan

The Federal Unsubsidized Direct Loan is offered to assist you with postsecondary educational expenses. The Unsubsidized Direct loan is made directly to the student who is responsible for repayment. Interest accrues and must be paid by the borrower or is capitalized during periods of in-school enrollment, grace, and/or deferment. Learn more about the current interest rates for the Federal Direct Loan.

You must meet federal eligibility criteria to qualify for the Unsubsidized Loan. Financial eligibility is determined by a federally legislated analysis of family financial information provided on the Free Application for Federal Student Aid (FAFSA). You must file the FAFSA and use Boston University’s School Code (002130) to apply for the Unsubsidized Direct Loan.

Federal Graduate PLUS Loan

The Graduate Federal PLUS is a federal credit-based loan that is available to assist you with the costs of the MMH degree. To be eligible for the loan, you must enroll at least part-time (six credits per semester) in the MMH program. The credits must be accepted towards the degree program. You must be a US citizen or permanent resident, have no outstanding balance from a prior period of enrollment, and must be making satisfactory academic progress per school guidelines.

Direct PLUS Loans do not have fixed amounts. You can borrow up to the cost of attendance minus all other financial assistance you received. The current interest rate on the Graduate Federal PLUS Loan can be found on the Financial Assistance website. Interest begins to accumulate on the date of the first loan disbursement.

Learn more about the credit-based Graduate PLUS loan.

Federal Loan Refunds

Any extra funds resulting from a federal loan will automatically be refunded to you in the form of a check. The refund will appear on the MyBU Student Portal as a Title IV Refund. Students can also submit an online refund request to set up direct deposit.

If you do not receive your check two weeks after the disbursement of your loan, please contact Student Accounting Services.

Private Loans

We encourage you to research and apply for other private loans that suit your lending and educational needs. BU has identified some credit-based private loans if you are interested in researching additional options. This list of options is not all-inclusive, and we encourage you to search for other outside private loan options that may be available to you.

You can also review additional financial aid resources outside of Boston University.

Loan Repayment

Find the complete listing of loan servicers and their contact information.

You can also find your loan servicer’s contact information on the National Student Loan Database System (NSLDS).

Satisfactory Academic Progress

Invest in Your Future with a Graduate Degree in Hospitality

Are you ready to take the next step and pursue your passion for hospitality management? Apply to one of our graduate programs to grow into a visionary leader in the hospitality industry.

Need more information about SHA graduate programs, tuition, and financing options? Request information!