$4,486

Avg. Federal Grant

$5,073

Avg. Federal Loan

$159,339,374

Total Aid Awarded

Brigham Young University (BYU) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

73%

Total Aid Amount Average Total Aid Awarded per year.

$159.339M

Financial Aid Official Website

https://financialaid.byu.edu/

Brigham Young University (Provo) makes enough room for you to take the advantage of financial aid in the form of scholarships, grants and different categories of loans. They believe that a student must be judged by the holistic development of their personality rather than their financial strength.

The university shows you the path towards a more financially secure education system by recommending you to fill up the FAFSA form. The scholarships and aids that you are eligible for may vary depending on the category of student you fall under. For example, you can be a graduate student or undergraduate student or maybe a visiting or a home-school student. You may also visit their official site for knowing more about their financial aid categories. Here you will also be able to get access to personalised updates and information under the ‘My Aid Dashboard’ section. 

Brigham Young University (Provo) makes enough room for you to take the advantage of financial aid in the form of scholarships, grants and different categories of loans. They believe that a student must be judged by the holistic development of their personality rather than their financial strength.

The university shows you the path towards a more financially secure education system by recommending you to fill up the FAFSA form. The scholarships and aids that you are eligible for may vary depending on the category of student you fall under. For example, you can be a graduate student or undergraduate student or maybe a visiting or a home-school student. You may also visit their official site for knowing more about their financial aid categories. Here you will also be able to get access to personalised updates and information under the ‘My Aid Dashboard’ section. 

Scholarships

The BYU generously offers freshman scholarships to almost one-fourth of the new students. Prospective students may also apply for this loan in advance. The criteria for choosing the recipient of these scholarships is ACT and SAT scores and also the high school GPA. 

The Continuing Student Academic Scholarship is provided to those students who can meet the cut-off set by the university. The transfer students are however eligible for scholarships only after fulfilling a 12-credit hour period.

The university also in few cases may provide certain departmental scholarships. Apart from these, special spring and summer scholarships are also offered to the existing students based on their performance. Only under graduation students are eligible for the spring-summer scholarships. International students however will need to apply separately through the official site in order to get a scholarship.

BYU has purchased a licensed software which is a third-party scholarship provider named the Scholarship Universe. Students desiring for a scholarship are advised to make a profile in the Scholarship Universe and based on the information that they provide, the scholarship details will be provided. This is basically an off-campus scholarship that you can avail.

Grants

Grants primarily include the Federal PELL Grants which depend on your EFC-expected family’s contribution as per the information given in your FAFSA and the documents provided during the admission. In order to view the breakdown of the total amount of PELL Grants, you can view the MyAid Dashboard.

Additional PELL Grants are also available for the third semester, if you have already received the Pell Grant for the previous two semesters. The additional Pell Grants is basically an extra financial support to those who are in dire need of funds to backup their education.

Loans

You can start with the repayment of the loan once the amount is fully disbursed. In order to find out more details and specificity of the loans, you may log in to the National Student Loan Data System(NSLDS) using your FSA ID.

BYU has also entered into a contract with ECSI (Educational Computer Systems, Inc.) for generating their long-term loans. For more details regarding your BSU long term loans, you may visit BYU Financial Services.

The university understands that education stands as a very important investment and hence it also provides you the necessary guidance that you need about loans. In order to take their service, you have to be an existing student of the institute and can check out the following link  Financial Fitness Center.

Federal subsidized loans are available to the students at an interest rate of just 4.53%. The federal unsubsidized loans can be undertaken also at 4.53% interest rate for undergraduate students and 6.08% for graduate candidates and students going for a professional degree. In addition to the following you might also be eligible for Federal PLUS loans and other private loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

13%

State Grant Aid

14%

Institution Grant Aid

45%

Pell Grant

13%

Average Aid Awarded

Federal Grant Aid

$4,486

State Grant Aid

$2,321

Institution Grant Aid

$4,061

Pell Grant

$4,486

The amount of Federal Loan sums up to an amount of US$5,073 on an average. The total aid generally received by the students is US$159,339,374. A large number of students, almost 73% of them receive such loans.

The federal Pell grant percentage is about 13% and is an amount of US$4,486. The state aid grant provided turns out to be around US$2,321. The institutional grants however are US$4,061 and it is offered to around 45% students.

Coming to the student loans, the average amount of student loans amount to US$5,104 and around 12% students choose to avail students’ loans. The loan default rate is also at a low range of 1.5%.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$9,442

$30,001 - $48,000

$8,278

$48,001 - $75,000

$5,750

$75,001 - $110,000

$2,132

Over $110,000

$1,023

In order to compare the financial aid with your family income strength, it becomes important to keep both in mind while planning about applying for any of the financial aids. Here’s some information that you might find to be useful in case you want to make a comparative analysis between the family income bracket you fall within and the amount that you can expect to get as a financial aid.

If you fall under a family income category under US$30,000 then you might be sure of receiving a basic amount of US$9,442 as financial aid. A family income category ranging from US$30,001 - US$48,000 can expect the same amount to go down to US$8,278. For an income range between US$48,001 to US$75,000 the expected financial aid that you might expect to receive can be close enough to a figure of US$5,750.

Usually in the similar manner a family income falling under the range of US$75,001 - US$110,000 can avail for a financial aid up to US$2,132. For any family with an income range falling over and above US$110,000 may get an amount of just US$1,023

Student Loans for Brigham Young University (BYU)

Average Loan Amount Average Loan Amount received per year.

$5,104/Year

Students Taking Out Loans

12%

Loan Default Rate

1.5%

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