Things to keep in mind when using the College Funding Tool:
- Most degrees at BYU require 120 hours to meet graduation requirements.
- Estimate anticipated income based upon your major, and future career aspirations. If you are uncertain about your future career, and don't know what a reasonable expectation would be for income, use an estimate for now. You can refine this information as you gather more details.
- Gather information and estimate your expenses for rent, utilities, groceries, eating out, transportation, and personal expenses. Be sure to also include estimates for tuition, books, health insurance, and the purchase of a laptop, if needed.
- Gather information and estimate the amount of support you may receive from personal savings, parental or family support, any scholarship awards and grants.
- Consider possible income from part-time employment, during your enrollment at the university. This may help you to pay for some of your living expenses, and avoid additional debt.
- The difference between your total expenditures and total resources is displayed as either a surplus or a deficit. If you have a deficit, we refer to this as a funding gap.
- Before borrowing, consider any possible spending adjustments to reduce the amount of money you may otherwise need to borrow (visit Smart Spending Options).