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Financial Aid

The University of Sioux Falls is a private, Christian liberal arts institution committed to helping students receive the financial assistance they seek in order to continue their education.  You must be accepted for admission in order to receive a financial aid award.

MANDATORY FORMS

1.  Free Application for Federal Student Aid (FAFSA)

"Federal Student Financial Aid" means federal grants, loans, and work study money to finance your education.

Be sure your form has the necessary signature(s) by using a PIN to sign the form online.
Listing USF code 003469 will enable USF to receive your processed application and determine your eligibility.

(Click here) for FAFSA on the web.

The U.S. Department of Education has a toll-free number to answer questions about federal student aid programs.  This number is
1-800-4-FEDAID (1-800-433-3243).

2.  SAR - Student Aid Report

Within seven to ten days after submitting the FAFSA, you will receive a Student Aid Report (SAR) by email from the U.S. Department of Education.  On the SAR you will find either a request for further information or a number called an Expected Family Contribution (EFC).  A formula established by law is used to figure the EFC from the information you provide.  The Financial Aid Office uses the EFC to determine your aid eligibility.

3.  Award Letter

Once you are admitted and accepted into the Degree Completion Program and all additional forms necessary have been received, your financial aid eligibility will be determined.  You will receive an award letter listing the amounts and types of aid you are eligible to receive.  Once you have received the award letter, you must accept or decline the financial aid offered and complete additional forms and/or loan applications, if necessary.

4.  Student Loan Entrance/Exit Interview

All students applying for a loan are required to have an entrance interview and an exit interview.  These interviews are required by law to inform students of their responsibilities regarding their loans.  The entrance interview will be conducted online at the USF website (click here).  The exit interview is to be completed online prior to program completion or withdrawal (click here).

5.  MPN - Master Promissory Note

Students wanting to receive Federal Stafford Loan funds which they have been awarded must complete an MPN before the loan can be processed. An MPN will be completed online through the USF website (click here).

6.  Maintaining Eligibility

In order to remain eligible for any Federal financial aid you have been awarded, you must remain enrolled at least half-time (6 or more credit-hours per term).  Students receiving Federal or institutional financial aid are required to maintain a cumulative grade point average (CGPA) of 2.0 or higher and complete a minimum of 70% of the courses attempted.  Please visit the financial aid office before dropping any courses.

7.  Employer Tuition Assistance Deferment Form

If your employer is providing partial or full tuition assistance, please print out the employer-paid tuition deferment form (click here), complete the form, and send it in for approval prior to beginning each term. If your employer provides a form, USF will accept that form as well. Any portion of tuition and fees not covered by your employer is due at the beginning of each term. Employer forms are to be submitted to the USF Financial Aid Office.

CONDITIONAL FORMS

Verification Worksheet

FAFSA's are randomly chosen for verification of information.  If selected, you will need to complete a Verification Worksheet, which can be obtained at the USF Financial Aid Office.  You will need to send a signed copy of your Federal Tax return with the completed verification worksheet to the USF Financial Aid Office.  NO FUNDS WILL BE DISBURSED OR LOANS CERTIFIED PRIOR TO THE RECEIPT OF THE WORKSHEET AND TAX RETURN COPIES.  This is a federal regulation.

For more information or clarification about this process, contact the USF Financial Aid Office at 331-6623.