Highlights
Complete Entrance Counseling/Master Promissory Note (MPN)
Enroll in 6 Program Applicable Credits
Completed FAFSA® Form Required
Must Be Repaid With Interest
Loan Types
Direct Subsidized
For students with financial need.
The government pays the interest while you are in school and taking at least 6 Program Applicable (PA) credits.
This continues until you graduate or go 6 months without being enrolled in at least 6 PA credits.
Learn More About Subsidized Loans
The government pays the interest while you are in school and taking at least 6 Program Applicable (PA) credits.
This continues until you graduate or go 6 months without being enrolled in at least 6 PA credits.
Learn More About Subsidized Loans
Direct Unsubsidized
Interest starts accruing as soon as the loan is disbursed to your student account.
You can make early payments if you want to reduce interest.
Unsubsidized loans are usually offered to all students.
Learn More About Unsubsidized Loans
You can make early payments if you want to reduce interest.
Unsubsidized loans are usually offered to all students.
Learn More About Unsubsidized Loans
Direct Parent Plus
Parents can borrow loan funds to help their students.
The student must complete the FAFSA
The parent must complete the Direct PLUS Loan application, which will require a credit check.
Learn More About Parent Plus Loans
The student must complete the FAFSA
The parent must complete the Direct PLUS Loan application, which will require a credit check.
Learn More About Parent Plus Loans
BYU-Idaho is required to publish the institutional loan default rate for federal loans. The current institutional default rate is 0%
Federal Student Loan Qualifications
- Enroll in at least 6 Progam Applicable credits.
- Complete Entrance Counseling at studentaid.gov.
- Sign a Master Promissory Note (MPN) at studentaid.gov.
- Accept your loans in your Financial Aid Portal at least 3 days before the semester ends.
Application
FAFSA® Application Required
US Citizens and eligible non-citizens can complete the FAFSA® Application.
If you are not eligible to apply for FAFSA® visit Alternative and Private Loans for more options.
FAFSA® Application
If you are not eligible to apply for FAFSA® visit Alternative and Private Loans for more options.
FAFSA® Application
Receiving Loans
Once your FAFSA® has been processed, Loan Offers are added to the Financial Aid Portal, where they can be accepted or denied by clicking on “Review and Update.”
How will I get them?
When will I get them?
It may take a few days for the school to receive your loan funds and process refunds to your bank account.
- Choose to accept all, part or none of the loan.
- If your loan is for two semesters, it will disburse in two equal portions.
- Subsidized loans must be accepted before Unsubsidized.
- Loans do not have to be declined – they will only disburse if you have accepted them.
- You can override a declined loan later by accepting loan amounts.
How will I get them?
- Loans go to your student account and automatically pay for school costs.
- Leftover funds can be sent to you through eRefund.
Sign up at Refunds
When will I get them?
- Accepted before school starts: loans should be disbursed to your student account during the first week of the semester.
- Accepted after the semester starts: should disburse in 3-5 business days
It may take a few days for the school to receive your loan funds and process refunds to your bank account.
Managing Loans
Once you have accepted your federal loans, they can be managed from your studentaid.gov account. Within your studentaid.gov account you are able to:
- Keep contact information up to date.
- Find your loan servicer's contact information.
- Talk to your loan servicer if you are having issues making payments:
Loan Deferment (pausing payments)
Loan Forbearance (temporary pause or reduced payments)
Loan Consolidation combines several existing loans into one new loan - If you are leaving for a mission, you must contact your loan servicer to manage arrangements.
- Receive important updates about interest, enrollment changes, grace periods, and repayment obligations.
Repaying Loans
You don’t have to start repaying until six months after you graduate or take fewer than 6 credits. Although you can make early payments to reduce interest.
Important details about the grace period:
Important details about the grace period:
- The grace period begins the day after you stop attending school at least half-time (6 credits) and ends the day before the repayment period starts.
- Short breaks (like missing a semester) don’t use up the grace period. If you return to school within six months and take at least 6 PA credits, you still get the full six-month grace period when you graduate or drop below six credits again.
- You should get a Repayment Schedule during your grace period. If you don’t, contact your servicer. Payments start after the six-month grace period ends.
Frequently Asked Questions
If this is your first time receiving a federal student loan, you must complete Entrance Counseling and sign a Master Promissory Note (MPN) before your loans can disburse. Once all required actions are...
BYU-Idaho doesn’t handle loan arrangements, payments or contact with loan servicers. If you are going on a mission, you must reach out to your loan servicer to plan. You may qualify for a forbearance ...
When you take fewer than 6 credits, you enter the grace period. The grace period starts the day after you stop attending school at least half-time (6 credits) and ends the day before the repayment per...
If you have declined your loan, you can still return to your <b class="rte2-style-bold">Financial Aid Portal</b> and accept the full amount or a partial amount. Keep in mind that federal student loans...