1. Fill out a FAFSA
A FAFSA is a Free Application for Federal Student Aid.  FAFSA determines a student's eligibility for the awards listed below.  In order to be considered for any Federal Aid, a student must fill out the FAFSA application correctly and follow up with the Financial Aid Office.
Application Deadline:
  • The FAFSA needs to be submitted roughly 3 months before the student starts school each academic year in order to receive their aid by the tuition payment deadline.
Frequently Asked Questions:
  • What is our school code?
    • 001625
  • What information do I need to fill out the FAFSA?
    • If married: Your Personal and Spouse's tax information
    • If single (dependent): Parent's tax information.
  • I'm having problems with the FAFSA application/website, what can I do?
    • Call FAFSA support at 1-(800)-433-3243
  • What if I'm getting married?
    • Speak with your financial aid advisor BEFORE filling out the FAFSA
  • When do I complete the FAFSA?
    • The FAFSA needs to be submitted roughly 3 months before starting school each academic year in order to receive aid by the tuition payment deadline.
Avoid common FAFSA errors:
  • Blank fields. Leaving fields blank can cause miscalculations, and instead should be filled out with a 0 or “not applicable”.
  • Using decimals or commas. Round amounts to the nearest dollar.
  • Using the wrong Social Security Number. You must use the correct Social Security Number or driver's license number. Don't make up identification numbers.
  • Incorrect Name. The name used on the FAFSA must match the name that is on you Social Security card.
  • Incorrect Address. Temporary addresses should not be used on the application, only a permanent address.
  • Income Tax amount. The correct amount that you paid is on your income tax return, not your W-2 form.
  • Not reporting children. Children that will be born during the year of the award will still need to be reported as a member of the household if more than half of the child's support will be paid by you.
  • List the College. Our college's federal school code is 001625.
  • Sign and date. Your PIN is the electronic signature. You can obtain one at www.pin.ed.gov. Be sure to sign, date, and submit the FAFSA upon completion.

2. Verification
BYU-Idaho is required by the Department of Education to verify that FAFSA forms are filled out correctly. To complete this process, one out of every three students will be required to submit certain documents to the BYU-Idaho Student Financial Aid Office. If a discrepancy is found, the FAFSA will be corrected by our office based on the information found on the documents submitted to us. Verification must be completed (i.e. all documents submitted, including corrections) before students will be notified of which FAFSA awards they will receive.
Submitting Documents Submission Guidelines
  • Include student's full name and I-number (Student ID number) on all documents
  • Submit only legible and readable documents (text and info needs to be clear and not blurred)
  • If a document is being submitted for multiple students, please include all students' names and I-numbers
  • Worksheets need to be filled out completely and correctly. An incomplete document will cause a longer processing time as the document will need to be completed and re-submitted.
    • Please read all instructions on every worksheet.
Ways to Submit Documents
  • Fax - Documents can be faxed to: (208)-496-6711
  • Mail - Documents can be mailed to:
    • BYU-I Student Financial Aid Office
    • 100 Kimball Building, 1610
    • Rexburg, ID 83460
  • Personal Delivery - Documents can be dropped off at the front dest of the Student Financial Aid Office, located at 100 Kimball Building
Timelines
  • After submitting a document, it will be between 2-4 weeks before it shows as received in the Financial Aid Document Tracking link.
  • Once the Student Financial Aid Office has received every document (including corrections) that is necessary, it can take anywhere from 6-8 weeks before awards will be posted.

3. Receive Awards:

Federal Pell Grant
Federal Pell Grants are awarded to undergraduate students pursuing a degree on the basis of financial need.  Students are considered for these awards based off of a FAFSA.
Deadlines Requirements
  • Be a U.S. citizen or an eligible non-citizen
  • Be a degree seeking undergraduate student
    • Students who already have a bachelor's degree are not eligible.
    • Continuing Education Students, Pathway Students, and other Non-Matriculating Students are not eligible.
  • Meet the financial need requirements determined by the FAFSA application
  • Meet the Satisfactory Academic Progress Requirements
  • Award amounts are based on need and on enrollment status (credit level). The award amount will vary depending on enrollment status.
  • Submit verification documents(if required)
    • (See Step 2: Verification above)
Duration
  • Federal Aid awards are valid for one academic year
  • Pell Grants are limited to the equivalent of two full time awards (on or off track). There will not be a third semester Pell Grant award unless the student has not exceeded the two full-time award equivalent limit.
Pell Grant Caps
  • Students are eligible to receive Pell Grants up to the equivalent of 6 years at full time (12 credits or more). For example, if a student is attending full time at a university, they could potentially receive up to 12 semesters of Pell Grants. If a student is attending half time every semester, they could potentially receive up to 24 semesters of Pell Grants, which is the equivalent of 6 years at full time.

Direct Stafford Loans
Stafford loans are a series of fixed-rate student loans for undergraduate and graduate students attending college at least half-time (6-credits or more).  Students are considered for these loan offers based on the FAFSA.
Deadlines Requirements Loan Levels
Direct Subsidized LoanDirect Unsubsidized Loan
3.4% APR interest rate 6.8% APR Interest rate
The federal government pays the interest for the loan while the student is in school. The student pays for the interest that the loan accrues while they are in school.
Principal and Interest payments are postponed while students are enrolled in at least 6 credits and during their grace period. Principal payments are postponed while students are enrolled in at least 6 credits and during their grace period.
Grace Period - students aren't required to start repayment until 6 months after dropping below 6 credits
  • If a student defers a semester and is below 6 credits for more than 6 months, repayment will start and their grace period will have been used up.
Grace Period - students aren't required to start repayment until 6 months after dropping below 6 credits
  • If a student defers a semester and is below 6 credits for more than 6 months, repayment will start and their grace period will have been used up.
Duration
  • Direct Stafford Loans are valid for one school year. The accepted loan amount is disbursed in two installments (divided between two semesters).
  • Students need to re-apply every academic year.
Loan Caps

Students must be making Satisfactory Academic Progress (SAP) in order to be eligible for loans. Students also must be maintaining a 6 credit minimum to be considered eligible.

Maximum Amounts of Borrow
YearDependent*Independent*
1st Year $5,500 $9,500
2nd Year $6,500 $10,500
3rd & 4th Year $7,500 $12,500
Aggregate $31,000 $57,500

*The total amount includes subsidized and/or unsubsidized loan amounts

Beginning July 1, 2013, first time borrowers may not receive Direct Subsidized Loans for more than 150% of the published length of the academic program in which they are currently enrolled. For example, a first time borrower in a 4-year degree program would have 6 years of Direct Subsidized Loan eligibility, and a borrower in a 2-year certificate program would have 3 years of Direct Subsidized Loan eligibility. Borrowers that have taken out loans before July 1, 2013 will still be eligible to receive loans under the previously established maximums, or until they reach SAP.

Current interest rates for all Direct Loans are as follows:
Current Interest Rates*
Direct Subsidized 3.86%
Direct Unsubsidized 3.86%
Direct Parent PLUS 6.41%
*Effective 07/01/13 to 06/30/14

For more information on Loans and other financial aid, visit www.studentaid.ed.gov.

Important Information
  • BYU-Idaho is not the servicer or loan servicer. Questions about repayment, consolidation, etc. all need to be directed to the student's servicer, and not BYU-Idaho.
  • Loan Policies Page
  • Studentloans.gov
  • NSLDS.ed.gov - To find out who a student's loan servicer is as well as total loan balances
  • For further instruction on how to find your loan servicer click here.
  • Contact your financial aid advisor if you will be attending school on your off-track OR if you will be attending only one semester during the school year.

Plus Loan
A Parent Loan for Undergraduate Students (PLUS) is a federally guaranteed loan and is available for a parent of dependent undergraduate students.  The parent may borrow up to the student's annual cost of attendance minus any financial assistance the student has been or will be awarded during the period of enrollment.
Deadlines Requirements Interest Rate and Repayment
  • 7.9% APR Interest Rate
  • Repayment begins within 60 days after the loan has been fully disbursed.
  • Interest begins to accumulate at the time the first disbursement is made (on the first semester amount only until the second half is disbursed).
Duration
  • PLUS Loans are valid for one school year. The accepted loan amount is disbursed in two installments (divided between two semesters).
  • Students and Parents will need to re-apply every academic year.
Important Information
  • BYU-Idaho is not the servicer or loan servicer. Questions about repayment, consolidation, etc. all need to be directed to the servicer, and not BYU-Idaho.
  • Loan Policies Page
  • Studentloans.gov
  • NSLDS.ed.gov - go to find out who the loan servicer is.
  • For further instruction on how to find your loan servicer click here.

Federal Disclosure: Students enrolled in study abroad programs approved for credit by BYU-Idaho may be considered enrollment at BYU-Idaho for the purpose of applying for assistance from federal financial aid as contained under title IV, HEA programs. The program must meet the Department of Education’s definition of a study abroad program.