Cost and Aid FAQs
What is financial aid?
Financial aid makes the cost of education more affordable for students and their families. There are four primary types of financial aid: grants, scholarships, work-study, and loans.
Can my family afford USF?
To address the rising cost of college tuition, the University of Sioux Falls is resetting its undergraduate tuition price by $10,000 to $17,980. The change, which will take effect in the fall of 2018 for all new and returning students, will bring tuition back to levels last seen in 2007-08.
This move places USF among the most affordable institutions in the region. And it helps make USF’s high-quality, intensely personal, Christ-centered educational experience accessible to more students of diverse socioeconomic backgrounds. For more information, visit: usiouxfalls.edu/tuitionreset.
When should I apply for financial aid?
You should complete the FAFSA as soon as possible after October 1. Some of the aid programs have limited funding and are given first to students who make the priority date of January 1.
How is financial aid eligibility determined?
When you complete and submit a FAFSA, the Federal Processor calculates an Expected Family Contribution, or EFC. The formula takes into account factors such as family income, assets, number of dependents, number in college, as well as other factors. Your GPA and ACT scores are also used to determine the amount of aid you will receive.
What is a financial aid package?
Your financial aid package is the combination of grants, scholarships, loans, and campus employment opportunities that you have been awarded.
How do I apply for your institutional aid?
By submitting your FAFSA and being accepted for admissions, you have applied for institutional aid. There are some scholarships that require additional applications. You must be attending USF full-time (12-17 credits) as an undergraduate student to receive institutional aid.
I know I'm not going to qualify for federal need based aid. Do you still want me to file the FAFSA?
Applying for financial aid is voluntary. Filing the FAFSA may enable you to receive additional non-need based federal aid such as the federal loans. If you decide not to complete the FAFSA, notify the USF Financial Aid Office so we can review your eligibility for institutional aid.
What is included in the student budget?
The student budget, or cost of attendance, for financial aid includes: tuition, fees, room and board, as well as an allowance for books, transportation and personal expenses incurred by the student.
How will a scholarship I recieve from a community group or school organization affect my financial aid package?
If you are applying for financial aid and receive a scholarship from a source outside USF, that scholarship becomes part of your financial aid package and is included in your total aid award. In some instances, it may be necessary to adjust other aid, usually a loan or work-study, to meet federal regulations. Please notify USF's Financial Aid Office as soon as you receive any scholarships from outside sources.
What can I do if there has been a significant change in our family's financial situation?
If there is a significant change in your income from the prior year, the Financial Aid Office may review your aid. This is only done in extreme cases and it may or may not affect the amount of aid you receive. Notify the Financial Aid Office as soon as possible if your circumstances have changed.
Where can I get help?
Our experienced, helpful staff can guide you to many sources of financial aid. Some students qualify for grants. Many can receive loans with a variety of repayment options. Scholarships are also a possibility. And you might even pick up a work-study job on campus. We also provide a Payment Plan that can help as well. Whatever your situation....traditional, nontraditional, veteran, single parent....we will help you navigate your financial options.
How much will it cost per credit if I decide to take an overload of courses (more than 17 semester hours)?
You will pay $360 per semester hour for overload credits.
Can I audit a class? If so, how much does it cost?
Yes. You will pay $180 per semester hour to audit a class.
Can I receive Financial Aid for Summer School?
Yes. In order to qualify for Federal Financial Aid for a summer session, you must be enrolled in at least 6 (six) credit hours (undergrad) or 4.5 credit hours (graduate).
If you are awarded a Federal Direct Loan in the summer, your loan eligibility for the next academic year will be reduced (i.e. you will not be able to borrow as much for the fall and spring.)