Student Finances FAQ

FAQ

How do I apply for financial aid?

What is the BYU-Idaho Grant (formerly known as Thomas E. Ricks Grant)?

  • The BYU-Idaho Grant is intended to assist students at BYU-Idaho who show financial need and/or academic merit. For more information on eligibility as well as how to apply for this grant, please see BYU-Idaho Grant.

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

  • 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

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

  • Go to the FAFSA website and 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, after you have made changes, it takes 24-48 business hours for updates to show on your student account; however, it could take up to a week to update in the Financial Aid system. 
  • Check your portal to see if you are required to submit any verification documents. Those must be completed and processed before aid is offered. See Viewing Missing Documents for Federal Aid

How do I know if anything else is needed to determine my 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. 

What financial aid do I qualify for?

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.

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

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. 

How do I check charges on my student account?

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 have NOT met 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. 

How do I get my financial aid to apply to my student charges and can I choose what it pays for?

  • Financial Aid will automatically pay for tuition charges, class fees, and on campus housing (Centre Square Apartments and University Village).
  • To see if it has paid your student charges, look at your Personal Account Summary. Click on "show history" to see if there was a balance and how it was paid.
  • It will NOT automatically pay for other student charges like graduation fees, health center fees, university store charges, parking permits/fines, or other miscellaneous charges. To allow your financial aid to pay for these charges, you will have to authorize BYU-Idaho to do so. 
  • To apply Financial Aid to be used for all charges on your student account, see Financial Aid Authorizations

How do I get a non-BYUI scholarship applied to my student charges?

How was my financial aid applied to my student charges?

What happens to extra or leftover financial aid?

  • Leftover financial aid will be sent to you either via eRefund or in the form of a physical check to your address on file. An email will be sent to your student email letting you know that the remainder of your financial aid is being refunded to you. 
  • You can also look in your Personal Account Summary under "Financial Aid Accounts" and "show history" to see if you have been refunded. 

How do I sign up for eRefund?

  • Signing up for eRefund will allow BYU-Idaho to refund any remaining aid electronically to your bank account which takes 2-3 business days.
  • If you do not enroll in eRefund, a check will be mailed to you within 2 weeks with the remaining aid. 

I still have questions, who can I contact?

  • If you have questions about your financial aid, we are happy to assist you! Agents are ready to answer your questions or refer you to a specialist if needed.

    • Call or text us at (208) 496-1411
    • Live chat with us from the BYU-Idaho webpage by clicking on the blue text bubble icon in the bottom right
    • Email us at financialaid@byui.edu with your name and I-number
  • Please be aware that responses may be delayed during busier times during the semester (i.e. during registration, at the beginning of the semester, etc.).

 

For recent questions in regards to Finances, see Finances Questions.

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Article ID: 8244
Created
Fri 1/8/21 6:43 AM
Modified
Fri 6/10/22 2:40 PM

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