BU adjusts local financial aid

Hoping to capture a bigger segment of the Boston's graduating public high school seniors, Boston University will retool its financial aid incentives to include more need-based aid on top of its merit-based scholarships, the administration announced on Monday.

BU will trim spots from the Boston Scholars Program, which selects a few qualified seniors for full rides, but add more financial aid for Boston public high school graduates regardless of merit.

Boston seniors accepted into BU will have all tuition costs other than the expected family contribution as calculated by Free Application for Federal Student Aid covered by the university, BU spokesman Colin Riley said.

"We will meet the students eligible for need-based assistance in its entirety without reliance on loans," Riley said. "They won't have any loan component as part of their aid package."

Students graduate BU owing an average of $24,000 in student loans, Riley said.

The Boston Scholars Program, founded 35 years ago, has rewarded more than 1,719 Boston public high school graduates more than $126 million, Riley said. The program is a joint effort between BU, BPS and the city.

"This is a long-standing scholarship program that has been enhanced and now for the first time will provide additional opportunities beyond the merit scholarship itself," Riley said. "It's part of our giving back to the city."

The Boston Scholars Program offered 58 fulltime, four-year scholarships per academic year, Riley said. BU will now offer 20 to 25 scholarships. Schools must nominate students for the merit-based scholarships.

"It's a real issue about affordability and accessibility," Riley said.

"This is a way to increase the opportunity for students in an urban public school system that they can apply to and ultimately enroll in Boston University and be able to afford it at the time that they graduate."