Seven Steps to financial aid success

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By Stephen Hill, Director of Financial Aid and Scholarships

It is essential students stay informed of the current national decisions regarding financial aid. We encourage you to participate in the national dialogue.

Although the Financial Aid Office does not assert a political position, we are fully committed to helping you explore and leverage available options to finance your education. Our website (financialaid.byu.edu) outlines seven steps to assist you:

1. Calculate the cost of being a college student. We encourage you to plan ahead, recognizing the total cost includes tuition, room, board, books, supplies, personal
expenses, transportation and loan fees.

2. Determine which financial aid options fit your situation. There are many opportunities available at BYU, such as part-time work, scholarships, federal grants
and loans and BYU loans. Our website provides specific details about these various
options.

3. Apply for scholarships by the published deadlines. Scholarships are not automatically renewed – you must initiate the process.

4. Apply for federal student aid. Each program, or aid type, carries its own eligibility
requirements, including enrollment and satisfactory academic progress.

5. Complete your to-do list items listed in My Financial Center in a timely manner
and read your messages regularly. Financial aid can be an intricate process, which
requires communication and coordination.

6. Review your awards. We automatically accept grants on your behalf, but you must
decide on loans.

7. Monitor disbursement. All financial aid and scholarship funds are first disbursed into your BYU student account. These funds will automatically pay any applicable
tuition and fees, and then excess funds are refunded. BYU encourages students to
set up direct deposit for excess student account refunds.

To be a member of the university community is a privilege. Your BYU education is a
valuable investment. To learn more about financial aid, including institutional and
federal programs, visit our website at financialaid.byu. edu or schedule an appointment
with one of our counselors, (801) 422-4104 or D-148 ASB.

When applying for federal aid, it is important to start early and complete these five steps as soon as possible:
1. File your income taxes.
2. Fill-out your FAFSA at www.fafsa.ed.gov.
3. Complete the BYU financial aid application
on My Financial Center.
4. Complete the To-Do List on My Financial Center.
5. Check the Message Center messages periodically.

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