529/Prepaid Tuition

How and When Will I Receive My Money?

529 Plan payments will first apply towards the current semester's charges on your account. Any excess amount will be refunded to you. At that point, it is your responsibility to make sure the excess amount you receive is applied to any remaining charges.

Basic timeline for receiving funds:

1. Send the wire transfer to BYU or mail the funds to the address listed below. Funds must include the full name and student ID number for the funds to be posted to your account. Funds received without identifying student information are returned immediately to the granting organization:
   
   1. Off-Campus Scholarships
      A41 ASB
      Provo, Utah 84602
2. Funds that are wire transferred typically take 3-4 days to post to your account. Processing times may vary depending on time of year and volume of requests. You will be notified via email when your funds post to your account. You can view your funds at the Scholarship Summary page of your My Financial Center. 

Funds must be requested to be transferred directly from your 529 Plan. If you have questions on withdrawing the funds, your plan’s processing time, or tax implications, contact your 529 Plan.

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. Due to the high volume of checks received, any request made to Off-Campus Scholarships to verify your funds have arrived will not be granted.

Wire Transfers

BYU can now accept wire transfers for 529 funds. To initiate a wire transfer, please email OCS@byu.edu for instructions. That email must include:

• Student Name
• Student ID number

Identifying student information must be provided with the transfer. Funds that cannot be processed will not be held.

Semester Housing Payment Breakdown

Housing payment deadlines are as follows:

Be aware that the December deadline for rent applies towards the Winter semester.

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. For July housing and meal plan payments, Student Financials runs a report the first week of July to find students who have Housing and Meal plan payments pending for Fall Semester to release funds early. It is performed weekly.

Winter funds will not typically be released until after Thanksgiving, though it can change year to year. If you have sent in funds 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.

Voiding Funds

Before your funds are voided, send an email to OCS@byu.edu with the following information:

• Check Number
• Check Date
• The address where the funds were sent
• Date the funds were sent

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.

Verification/Tuition Statement/Billing

Verification
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 submit a case to the Registrar’s Office.

Cost of Attendance
If your agency requires cost of attendance: please see Cost of Attendance.

Withdrawing
If you withdraw or cease enrollment, unless notified, we will still release the funds to your account.

Study Abroad
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).

Independent Study/Continuing Education
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.