Student Finances FAQ

Tags ontology

Applying for Financial Aid

Federal Financial Aid (FAFSA)

How do I apply for federal financial aid?

What is the BYU-Idaho FAFSA code?

  • The BYU-Idaho FAFSA code is 001625.

How do I tell if BYU-Idaho received my FAFSA information?

  • See Viewing Financial Aid Offers, to see any financial aid you have been offered. (If BYU-I has received it, it will show as a satisfied document in your portal.)
  • See if your FAFSA application was processed or submitted on the Federal Student Aid website, see Checking my FAFSA Info

How do I know if anything else is needed to determine my federal financial aid offers?

  • See Viewing Missing Documents for Federal Aid
  • If you have no missing documents and your financial aid offers are not showing within 2-3 business days of the University receiving your FAFSA, please contact the Financial Aid office.

How do I see what federal financial aid I qualify for?


BYU-Idaho Grants

What is a BYU-Idaho Grant and how do I apply?

  • (The BYU-Idaho grant was formerly know as the Thomas E Ricks Grant.)


Other Scholarships

Are there other scholarships I can apply for?


Receiving Student Loans

I've been offered federal student loans, how do I accept them?

  • To accept loans, see Accepting/ Declining Federal Loans.
  • If it is your first time accepting a federal student loan, you will need to complete a Master Promissory Note (MPN) and Entrance Counseling. Instructions can be found in the Missing Documents section of your Financial Aid Student Portal. 
  • Once your loan offer is accepted (and you have completed your MPN and Entrance Counseling if needed), the loan funds should appear in your student account within 2-3 business days once the semester has started.
  • Deadline for accepting loans: You can accept offered loans for the current semester up until the last week of the semester. See Loan Policies for more information about accepting loans.

When do I have to pay back my student loans?

  • You are required to begin making payments on your student loans once the grace period ends. The grace period ends either 6 months after graduation or once you drop below 6 program applicable credits for 6 consecutive months. For more information on repayment options, see loan repayment plans
  • Note: Some lenders have different student loan repayment options based on income or individual situations. This option can be especially helpful for missionaries who received student loans before their missionary service. For more information, reach out to your lender before you leave for your mission. 

Accessing My Financial Aid

I need to pay for some things, when will I get my financial aid?

  • Financial aid is typically disbursed within the first week of the semester if you have met the deadlines and submitted any required verification documents. (If you attended the previous term, your grades need to be posted first so the Financial Aid Office can check your eligibility before your aid is released.)
  • Books: If you are needing to purchase books for your classes, you may charge the balance to your student account which gives you 30 days to pay off the charges. For in person pickup, use your I-number and for online orders, select "Campus Charge" at checkout.
  • Housing: If you are worried about housing payments, speak with your housing manager to let them know you are waiting on financial aid. 
  • Late fees: If you do NOT meet the FAFSA Priority Deadlines (see Dates and Deadlines) for submitting your FAFSA, you may be subject to late fees (5% of the unpaid balance) which are added to your student charges one week after tuition is due unless you pay your balance by other means. 

Other FAQ

I have already submitted my FAFSA but I have not seen my financial aid offers. What should I do?

  • Check your portal to see if you are required to submit any verification documents, see Viewing Missing Documents for Federal Aid. Any documents requested must be completed and processed before aid is offered.
  • Check the FAFSA website to verify that the academic year for your FAFSA application is correct.
  • Make sure that BYU-Idaho has your correct Social Security Number and birth date. If they are incorrect, see Demographic Changes for how to update to the correct information. (Please note, it takes 24-48 business hours after making a change for updates to show on your student account and up to a week to show in the Financial Aid portal.)

What happens to my financial aid if I drop a class? 

  • Dropping one or more classes could affect your financial aid. Because each student's situation is different, it is recommended you reach out to the Financial Aid Office prior to dropping any credits.
  • Federal financial aid is dependent on the number of program applicable (PA) credits you are enrolled in. Generally, you need at least 12 credits to receive the full amount of any award. University grants and federal loans require at least 6 credits. Pell Grants may be prorated down to a 0.5 credit depending on your eligibility level. 
  • For more information on how a student's Financial Aid is affected when dropping courses, see Adding/Dropping Classes


After reading this page, I still have questions. Who can I contact?

  • If you have questions about your student finances, we are happy to assist you! Chat with us by clicking on the blue chat bubble icon in the bottom right-hand corner of this page or Contact BYU-Idaho through another channel


For list of recent questions students are asking about their Finances, see Finances Questions.

Was this helpful?
0 reviews


Article ID: 8244
Fri 1/8/21 6:43 AM
Tue 3/28/23 9:26 AM

Related Articles (3)

Non-BYUI schorlarship application and FAQ