<p> Office of Graduate Financial Assistance 2014-2015 Budget and Financial Aid Planning Worksheet</p><p>Step 1. Create your graduate school budget First, create your estimated monthly budget for living expenses and other bills. This budget should include all of your expenses EXCEPT tuition and fees. Write any missing categories in the blank boxes. It might help to think of variable expenses on a weekly basis, i.e. “How many times per week would I eat dinner away from home?” </p><p>When you are finished with the monthly columns, multiply your monthly estimates by 9 to determine your academic year budget or by 12 if you will be enrolled in the academic year plus a summer term.</p><p>Living Expenses Category Monthly Cost Academic Year Cost Fixed Expenses Rent/Mortgage Car/Transportation Insurance (BU Medical Insurance - $2,141/academic year) Other Bills (utilities, cell phone, etc.)</p><p>Total fixed A. Variable Expenses Groceries Personal Items (clothing, electronics, etc.) Entertainment Dining Out Travel/Special Occasions Household/Laundry Gym Membership/Health Costs</p><p>Total variable B. Total living expenses*(add A and B) C.</p><p>*Please note: BU estimates that graduate students will require a reasonable maximum of $2,208 for living expenses each month ($19,872 for the 9 month academic year). Requests for financial aid beyond this figure require special appeal and documentation of additional approved expenses.</p><p>(Please see reverse) Step 2. Factor in Tuition, Fees, and Financial Assistance Now, factor in the inputs and costs related to your graduate degree at Boston University.</p><p>Tuition and Fees Full-time (12-18 credits/term): $45,686; $656 fees/year Part-time (11.5 credits or fewer/term): $1,428/SED* daytime credit; $714/SED* evening credit (4pm or later); $600/SED* summer credit; $70 fees/term Tuition and fees Combined D. Living expenses (from previous page) C. Total costs (add C and D) E. Inputs Contribution from savings/family Scholarships/Grants Expected Wages (from work-study, employment, assistantship, etc.) Total Inputs F. Step 3. Determine the amount of additional financial aid you require Amount of Financial Aid Required (Subtract F from E) G. Step 4. Review your budget and your options Now that you are able to see the overall picture, you may wish to reevaluate the variable expenses section of your monthly budget or, if you are relocating to Boston, even the fixed expenses. Did you factor in anything that you could live without while you are in graduate school? You may want to eliminate some luxuries, but be realistic about your needs!</p><p>Step 5: Decide how to fund your cost of attendance. There are federal and private loans that will help you cover you cost of attendance. Begin looking at various loan options. If you are interested in receiving federal financial aid please return the Federal Financial Aid Interest Form so that you will be notified when the appropriate loan request forms are available. When considering federal loan options, please use the repayment calculators located at http://studentaid.ed.gov/ in order to ensure that you are borrowing responsibly. When considering private loan options, Boston University’s Central Financial Aid Office has created a website to help you compare your options: http://www.bu.edu/finaid/types-of-aid/loans/credit-based-loans/graduate/all-other-graduate-student-loans/</p><p>Please feel free to contact the office of Graduate Financial Assistance at 617-353-4238 or [email protected] with any questions.</p><p>*Tuition rates at other schools within Boston University vary.</p>