Deferring Financial Aid

Revised:    February 5, 2015

If you have received financial aid and you will be deferring for one semester or more, please be aware of the following:

  1. Student Loans: Student loan funds that you have accepted but not yet received will be cancelled. If you will be out of school for six consecutive months or more, you will be required to begin making payments on your loan(s) and your six-month grace period will be expended. You will also be required to complete student loan exit counseling at www.studentloans.gov using the pin from your FAFSA. If you have questions or concerns about loan repayment, please contact your loan servicer for information on available options. 
  2. PLUS Loans: PLUS Loan funds that you have accepted but not yet received will be cancelled. Loan repayment will begin when you have been out of school for 60 consecutive days. If you have questions or concerns about loan repayment, please contact your loan servicer directly for options.
  3. Pell Grants: Pell grants for the semester you are deferring will be cancelled. If you return to school during the same academic year, you may be eligible to receive a portion of the grant. Please contact the Financial Aid Office to see if your aid can be reinstated. If you return to school in a subsequent academic year, you must complete a new FAFSA to determine your eligibility for federal Pell grants. 
  4. BYU-Idaho Scholarships: BYU-Idaho scholarships will be cancelled for the semester(s) you are deferring. If you return to BYU-Idaho in a different academic year, you will need to complete the new scholarship application to be considered for scholarships. 
  5. Non BYU-Idaho Scholarships: Any scholarships for the semester that you are deferring will be cancelled and funds will be returned to the awarding agency. It is your responsibility to contact the agency directly about deferring the scholarship. 


Exceptions for Missionary Deferments: 

BYU-Idaho Scholarships: Departing missionaries who complete a missionary deferment through the university can defer current BYU-Idaho scholarships (with the exception of talent, leadership, and internship scholarships) until they return to BYU-Idaho. Please contact the Financial Aid Office at financialaid@byui.edu upon your return to have your scholarship reinstated. 

Student Loans: Your student loans will go into repayments six months after you leave school; however, you may be able to temporarily reduce or postpone required loan payment by enrolling in an income-based payment plan through your loan servicer. For more information, go to www.studentloans.gov, click on “Repayment Plans & Calculators,” and then select “Income-Based Repayment Plan (IBR)” or contact your loan servicer directly.