BYU can now accept wire transfers for 529 funds. The 529 Form must be completed before sending any funds to BYU. Once the form is completed, email scholarshipprocessing@byu.edu for information on how to complete the wire transfer.
After receiving instructions, send an email to scholarshipprocessing@byu.edu the same day that funds are transferred. That email must include:
Identifying student information must be provided with the transfer. Funds that cannot be processed will not be held.
Processing and posting of all funds will have an indeterminate delay due to the current pandemic.
529 plan payments first apply to tuition charges, unless otherwise indicated. Please complete the 529 Prepaid Tuition Form to ensure that your funds are applied correctly. It is your responsibility to make sure funds are applied to the correct charges. After funds are applied, you have 2 weeks to request any changes through YMessage.
BYU applies funds to your account prior to them being cashed. Before your funds are voided, send an email to scholarshipprocessing@byu.edu with the following information:
It can take up to 3 weeks for BYU to receive a check in the mail, with additional time afterwards for processing. Check with BYU before voiding any funds, as voiding funds in the middle of the process will cause further delays for them to post to a student’s account.
Funds must be requested to be transferred directly from your 529 plan. If you have questions on submitting the request and how much additional processing time it will add, please contact your 529 Plan.
The average processing time is 2-3 weeks from the date the funds are mailed to BYU. To ensure timely processing of funds, please send funds at least one month prior to the start of the semester (holidays may delay processing). Funds are processed on a first-come-first-serve-basis. Processing will not be expedited due to late receipt of the funds. The Financial Aid Office does not hold classes.
Students are notified via Ymessage once funds have been received and processed. Due to the high volume of checks received, any request made to the Financial Aid Office to verify your funds have arrived will not be granted.
Funds received without identifying student information are returned immediately to the granting organization.
529 Plans can pay off the following charges: tuition, Book Store (for Undergraduates), and On-Campus Housing/Meal Plans (for Undergraduates). Additional charges would be paid off using any refunded monies.
If your agency requires verification, proof of attendance, financial needs analysis, or a statement of charges, please complete a Verification Request. If you have any questions, you can send a YMessage to the Registrar’s Office.
If your agency requires cost of attendance: please see Cost of Attendance.
Housing payment deadlines are as follows:
| Semester | Housing Due |
|---|---|
| Fall (August to December) | July-November |
| Winter (January-April) | December-April |
| Spring (May-June) | April-May |
| Summer (June-August) | June-July |
If you are sending your funds in early for the next semester, those funds will not release until the start of the semester.
Fall funds cannot be released before the start of the semester; however, Student Financials runs a report the first week of July to find students who have Housing and Meal plan payments pending for Fall Semester. They hand process each of these accounts to release funds early. It is performed weekly.
Winter funds will not typically release until after Thanksgiving, though it can change year to year. If you have sent in fund for housing charges prior to the Dec. 1 deadline, and they are just waiting to release, there should not be an issue with the Housing Office, due dates, or late fees.
If there is an issue with the housing office and when the funds are released, both offices collaborate to make sure the student isn’t negatively impacted, especially those students who have sent their money in advance.
If you withdraw or cease enrollment, unless notified, we will still release the funds to your account.
529 payments are typically used as a reimbursement toward these fees since the due dates are earlier than the funds can be released (funds go toward tuition charges first and then you can use the reimbursement to pay for your international study abroad).
529 funds may be used as reimbursement for previously paid for Independent Study or Continuing Education courses. To transfer funds to Independent Study or Continuing Education, please provide a written statement of approval from your 529 account holder and a letter listing the courses you wish to take (along with the fees). Funds are not released until we verify Independent Study enrollment. Please note that we can only accept the amount for your course(s) and materials. Any funds in excess of your course fees and materials will be returned to the granting organization.
