How am I going to pay for college?

GOT MONEY?

Sample Budget worksheetFall Semester Winter Semester Summer Semester

Sept Oct Nov Dec Jan Feb Mar Apr May Jun July AugBudget Actual Budget Actual Budget Actual Budget Actual Budget Actual Budget Actual Budget Actual Budget Actual Budget Actual Budget Actual Budget Actual Budget

ESTIMATED RESOURCESNet Wages Job1 $500 $500 $500 $500 $500 $500 $500 $500 $750 $940 $940 $750Net Wages Job2Scholarship & GrantsIWES Sponsorship FundsFederal Aid (Pell Grant)Federal Aid (Stafford Loan)Family AssistanceOther:Other:TOTAL ESTIMATED INCOME $500 $500 $500 $500 $500 $500 $500 $500 $750 $940 $940 $750ESTIMATED EXPENDITURES Budget Actual Budget Actual Budget Actual Budget Actual Budget Actual Budget Actual Budget Actual Budget Actual Budget Actual Budget Actual Budget Actual BudgetTithes/Offerings 50 50 50 50 50 50 50 50 50 50 50 50Yourself (savings) 50 50 50 50 50 50 50 50 50 50 50 50Housing (Rent) 350 350 350 350 375 375 375 375 350 350 350 350Food/Clothing/Household 150 150 150 150 150 150 150 150 150 150 150 150Tuition & Fees 2,385 2,385 2,385Books 200 300 400EntertainmentMedicalSavings:(purpose)Other:TOTAL EST. EXPENDITURES $3,085 $500 $500 $500 $3,210 $525 $525 $525 $3,285 $500 $500 $500

UNMET NEED ($2,585) $0 $0 $0 ($2,710) ($25) ($25) ($25) ($2,535) $440 $440 $250

Fall Winter SummerSemester/Term Totals ($2,585) ($2,785) ($1,405)

Budgeting• Set up a spread sheet or ledger to make and track your

budget• Calculate and list how much money you earn in a month in

your budget worksheet • Calculate and list your expenses in your budget worksheet• Set your goals (education, computer, car, vacation,

entertainment, etc)• Divide your budget into basic categories/goals

• (Pay the lord, Pay yourself, Save toward your goals)• List all your projected spending/savings for each

category/goals• List both budgeted and actuals for your category/goals• Review progress regularly (weekly, monthly, semi-monthly)

Financial AidWhat is Financial Aid?Financial aid consists of funds provided to students and families to help pay for postsecondary (college) educational expenses. When planning for college and comparing aid packages, it is important to look at the net cost of attendance:

Example: Friends University

BYU-HawaiiTuition $20,000

$2,385Scholarship -10,000

-500Net Costs $10,000

$1,885

Now lets look as some ways we can pay those net costs!

BYU-H Scholarships• Recruiting Scholarships- for new and transfer students.

Criteria considered include, but not limited to: Seminary attendance, essay, GPA, ACT/SAT scores, extra-curricular activities, leadership experience

• Returned Missionary Voucher Serve in or are from target area: South Pacific and Far

East Has not previously attended BYU-H

• University Scholarships GPA – Based on Cumulative GPA for courses taken at

BYU-H Credit Requirement – at least 14 credits for Fall &

Winter and 12 credits for Summer• External Scholarships

Each have own criteria

Common criteria for external scholarships• Study hard and achieve a high GPA• Write a strong essay• List achievements and activities• List special or unique skills• Search for scholarships for your major• Ask teachers, organizational leaders, supervisors and/or

coaches for letters of recommendation

Start your scholarship search early. Most scholarship applications are due between November and March of your

senior year of high school

Free Application for Federal Student Aid (FAFSA)

www.fafsa.ed.gov

Pell Grants = FREE MONEY!TEACH GrantsStafford Loans

Parent Plus LoansFederal aid is based on financial

need!

www.fafsa.ed.gov

What other resources can help me pay for college at BYU-H?

• Part-time student employment• Deferred Payment Plan• Book Loan• Payroll Deduction

Financial Aid & Student Accounts Brigham Young University Hawaii

Box #195555-220 Kulanui Street

Laie, Hawaii 96762-1294(808) 675-3316,  (808) 675-3706

Fax # (808) 675-3323Email: financialservices@byuh.eduURL: http://financialaid.byuh.edu  

 

Mahalo!