Your Aid Package
Your Financial Aid Package is unique to you.
No two financial aid packages are exactly alike. Financial aid packages differ for each USF student and from one college to another.
Before financial aid funds can be released to your billing account, official high school and post-secondary transcripts must be on file with the Admissions Office. A sample request release form is found on the Registrar's Office website.
New Student Award Notification
The University of Sioux Falls Financial Aid Office will send you two copies of your Official Award Notification. One copy is for your records and one copy is to sign and return to us.
It is important to understand the awards listed on your award letter. If you are declining or changing any award, draw a line through the award, write in the change and initial the change. If you decline an award, there is no guarantee that it will be available to you at a later date. If you have questions regarding the award letter being presented to you, please call the USF Financial Aid Office to discuss the awards.
Sign and return one copy of the award letter within 30 days of receiving it to secure the aid being offered to you.
Current/Returning Student Award Notification
You must apply for financial aid on an annual basis. Your financial aid award will be made available to you via MyUSF. You will receive an email, to your USF e-mail address, from the Financial Aid Office once your award is available. You must then accept or decline your award by logging onto MyUSF and taking appropriate action.
The Official Financial Aid Award is based upon the information we have at the time the award is created. However, if the Financial Aid Office receives new information or a scholarship changes or is added, your initial award may be adjusted.
The Financial Aid Office reserves the right to adjust financial aid awards if errors are discovered or additional funds from outside sources are received after the financial aid package has been accepted.
If your package is adjusted and the changes are significant, you will be sent a revised award letter. If the adjustments do not affect your loan eligibility, you will be advised to review your awards on MyUSF.
Disbursement of Funds
If you have chosen to take out a Federal Direct Loan, Federal Direct Parent PLUS Loan or Alternative Student Loan, those funds are received at the USF Student Accounts Office by Electronic Funds Transfer (EFT). These funds are then applied directly to your account. The loan proceeds must first be applied to tuition, fees and room and board charges (if any). After the charges are paid in full, any remaining funds will be paid to you. Funds will not be disbursed to your account until you begin the enrollment period. Follow this link for information on obtaining those overage funds.
Financial aid such as USF Grants and Academic Scholarships, Federal Grants such as the Federal Pell Grant and the Federal Supplemental Educational Opportunity Grant (FSEOG) and the Federal Perkins Loan funds are credited to your account at the USF Student Accounts Office at the beginning of each semester.
Federal Work-Study is on-campus, hourly employment, and funds are issued via payroll check each month from the USF Payroll Office. Qualification is based on results of the FAFSA. Priority in awarding work-study is given to students who file their FAFSA by January 1.
Family Education Right to Privacy Act (FERPA)
FERPA stands for the Family Educational Rights and Privacy Act. It is also referred to as the Buckley Amendment. FERPA is a federal law (20 U.S.C. section 1232g) that was passed by Congress in 1974 to protect the privacy of student education records. It also provides rights to access or amend those records.
Satisfactory Academic Progress Policy
Federal regulations require that students (undergraduate and graduate) maintain satisfactory academic progress toward the completion of a degree program in order to receive Title IV Federal financial aid.