FAQ
Frequently Asked Questions
General Questions
I am new, I know nothing about financial aid, where do I start?
Educate yourself on the information provided on the About Financial Aid page. Covering the pages in the Financial Aid Guide should also provide necessary details regarding the financial aid process.
When will my financial aid be disbursed?
Financial aid awards (scholarships, grants, and/or loans) are disbursed within the first week of the semester, only if the student has completed all of the requirements at least two months prior. Occasionally some financial aid awards will be disbursed earlier or later than others. However, there is no guarantee date for disbursement.
How do I know when my financial aid has been disbursed?
Financial aid award funds are released into a student's Personal Account Summary. It can be found under the heading Available and Disbursed Financial Aid/Scholarships. If financial aid awards have been released, there will be account names and balances under this heading on the page.
Where can I pick up and access my disbursed financial aid money?
The Bursar's Office is responsible for disbursing funds (not the Financial Aid Office). Students can pick-up their funds at the Cashier windows (Kimball Bldg. next to the Bursar's Office). Students can also access and transfer funds through their online Personal Account Summary (under the Finances tab).
How can I pay tuition or school fees with my financial aid money?
Students can access and transfer funds through their online Personal Account Summary (under the Finances tab). Students can use this Account Summary to pay off outstanding balances with the school such as tuition or books using this page. Students can authorize BYU-Idaho to automatically use financial aid funds to cover tuition costs by signing the Title IV Authorization.
How can I use financial aid funds?
Financial aid funds are intended to be used for education costs. Initially, your financial aid should be used first to cover your tuition costs and any tuition (class) based fees. Remaining financial aid funds can then be used to pay off any outstanding school balances, books, school supplies, and any living expense you incur while completing your education, such as: housing, travel expenses, insurance, and food expenses.
Please note, certain financial aid awards, such as some private scholarships, have requirements limiting their use only for tuition based costs.
I need proof of financial aid to show my housing/apartment managers, what do I do?
A student can print a copy of their online Financial Aid Awards statement. Students can access this through their school account under the Finances Tab. This can serve as proof of financial aid to housing/apartment managers.
Students experiencing difficulties regarding their housing arrangements (i.e. uncooperative mangers concerning late rent) may contact the Housing Office. The Housing Office is responsible for dealing with such situations (not the Financial Aid Office).
I’m getting married soon. What do I need to do regarding financial aid?
Students who are nearing marriage and anticipate applying for Federal Aid need to visit or contact their Financial Aid Advisor. Advisors will need to review and confirm certain details to advise the students when to apply for Federal Aid.
How do I obtain financial aid if I am off-track (on Fast-Grad or with an override)?
Please inform your Financial Aid Advisor that you are attending a semester on your off-track or have been accepted as a Fast-Grad student. Financial aid for off-track/fast-grad students varies according to the type of financial aid award. Direct any inquiries regarding off-track/fast-grad financial aid awards to your financial aid advisor. Please do not assume the Financial Aid Office knows that a student is off-track or is on fast-grad. It is the student’s responsibility to make these arrangements.
Please note, according to new Federal Aid Policy as of the 2012-2013 Academic Year, Federal Pell Grants are limited to 2 full time (at least 12 credits) semester awards per academic year. This means students can no longer receive a 3rd full semester Pell award. Student's can receive Pell award during a 3rd semester so long as they have not already exceeded the equivalent of 2 full time Pell awards for the academic year.
I am deferring a semester(s) for LDS mission, medical, or continuing education reasons, how will this affect my financial aid?
The Deferring Financial Aid and Loan Policies pages provide complete answers to this question:
- Deferring Financial Aid policy page
- Loan Policies page
Questions about Financial Aid Email notices
I received an email informing me that I have missing documents?
If you received an email indicating that you need to turn in missing documents, you may need to send in any of the following:
- Verification documents - These are documents required to verify a student's FAFSA form when applying for Federal Aid. Students should include their I-numbers and appropriate signatures on all submitted documents.
- Thank you letter & color picture - These are required to receive any scholarship through the Heber J. Grant Scholarship Program at BYU-Idaho.
- MPN (Master Promissory Note) – Required if you have not taken a loan out since May 30, 2010. All loans are now Direct Loans and require a new MPN be signed. You may complete this at studentloans.gov.
- Entrance loan counseling – Required if you have not taken out a loan while at BYU-Idaho. You may complete this at studentloans.gov.
* A student needs to decline the loan offer if he/she does not want to accept a loan. Declining the loan offer will remove the MPN and Entrance Counseling requirements
Students can view which documents are being requested by visiting the Financial Aid Document Tracking
page.
I received an email informing me that an update has been made to my account?
If you received an email indicating that an update or addition has been made to your financial aid, it is to inform you that your financial aid has either been awarded or adjusted.
I received an email informing me that my loan servicer now considers me less than a half-time student and is asking for repayment, what do I do?
It is the students responsibility to maintain contact with their loan servicer. Visit nslds.ed.gov to access servicer information. Students can access Enrollment Verification from the Student Records Office and send it to their loan servicer to confirm or correct their student status.
Loan Questions
How do I receive loan offers?
The first step to receiving and becoming eligible for loan offers is to submit a FAFSA (visit the Federal Aid page for details). After completing and processing FAFSA, loan offers (if the student is eligible) will be displayed in the Financial Aid Awards statement (under the Finance tab).
How do I accept loan offers?
After completing and processing the correct FAFSA, loan offers (if the student is eligible) will be displayed in the Financial Aid Awards statement. There will be an Accept or Decline response link available. A students needs to accept the loan and authorize the loan amount. Loan offers require a student complete Entrance Counseling (Introduction to loan terms) and sign an MPN (Master Promissory Note - agreement to repay loan). These requirements can be completed by logging onto studentloans.gov
After accepting my loan offer, signing my MPN, and completing Entrance Counseling, how long will it take for my loan funds to be released?
Financial Aid Office cannot guarantee a specific release date for loans. Typically loans are released within 2-3 weeks after completing all necessary requirements.
I rejected my loan offers, I now need them, can I still receive them? How?
Yes, a student can still accept and receive their loans if the student is attending school at least half time (6 credits). These can be made available again by contacting the Financial Aid Office and requesting that these be made available again. The student needs to have his or her I-number or I-card available to make the request.
I accepted part of a loan offer, can I accept the rest? How?
To accept more of a loan offer, a student needs to contact their Financial Aid Advisor and make the request.
How can I cancel a loan?
To make these arrangements if they are still possible, a student needs to contact or visit with their Financial Aid Advisor.
I accepted a loan offer, I no longer need the full amount, can I decrease or cancel the loan? If so how?
To make these arrangements if they are still possible, a student needs to contact or visit with their Financial Aid Advisor.
I received my first installment to my loan, I no longer need the second installment, can I cancel it? If so how?
To make these arrangements if they are still possible, a student needs to contact or visit with their Financial Aid Advisor.