Paying for College

At Southwest Minnesota State University, we make your education affordable! We strive to ensure that paying for college makes sense while you are here and when you are done.  

Below you will find information about:

• Cost of Attendance
  
  
• Scholarships at SMSU
  
  
• FAFSA Information
  
  
• Types of Financial Aid

Check out the information below for more information about how you can finance your education at SMSU!

Cost of Attendance

Scholarships at SMSU

Southwest Minnesota State University is proud to award academic scholarships to high academic achievers to help cover their college costs. Not only that, but it is our opportunity to invest in you and your future. 

The Office of Admission awards scholarships to new entering first-year and transfer students. Current students should inquire with the Financial Aid Office and their Academic Department about scholarship opportunities.

Scholarships are available to qualified students who are admitted to SMSU and complete the SMSU Scholarship Application. By completing this application, you will have applied for all new entering student scholarships. The only exception is the SMSU Alumni Heritage Scholarships, which require a separate application. For information about the Alumni Heritage Scholarships, please visit the Alumni homepage.

Scholarship Priority Deadlines

Freshmen:*

Scholarships for freshmen will be awarded in the 1st week of each month, starting in October. Students must be admitted to SMSU before the last day of the previous month and qualify for a scholarship offer.

Transfers:*

1st week of June - Must be admitted to SMSU by May 31

*Students admitted after these dates can still be offered scholarships upon admission to SMSU.

By clicking on the links below, you can view the award amounts and criteria. If you have questions about scholarship criteria, awards, or the application process, please contact the Director of Admission, Charlotte Wahle, at (800) 642-0684 ext. 6286.

The Mustang Scholarship Program is a broad, inclusive scholarship that benefits all students who meet the eligibility criteria.

FAFSA Information

The Free Application for Federal Student Aid (FAFSA) is available to U.S. citizens and eligible noncitizens to help them pay for their college education. The application process is the same for traditional, non-traditional, dependent, and independent applicants.

SMSU FAFSA Code is: 002375 

How do I apply?

1. Apply for your Federal Student Aid ID. Each student must apply for an FSA ID. The FSA ID allows users to electronically access personal information on Federal Student Aid websites and electronically sign the FAFSA. https://studentaid.gov/fsa-id/create-account/launch

2. Complete the FAFSA - Complete the Free Application for Federal Student Aid (FAFSA) for the appropriate year. We recommend that you print out the Pre-Application Worksheet. Use this worksheet to assist you in collecting information for the online FAFSA Application.

For other FAFSA filing options, deadline information, and more complete directions, please visit https://studentaid.gov/

FAQ's

Q: Do I need to fill out the FAFSA every year...?

Yes. You need to fill out a FAFSA for the academic year for which you would like to receive federal financial aid. Complete the FAFSA online at https://studentaid.gov/h/apply-for-aid/fafsa

Q: I don't know where I want to go to college. Should I wait until I decide to apply for Financial Aid?

NO! On the FAFSA, you may list up to 5 different institutions you would like to receive your FAFSA information. Just think of your top 5 choices and get the FAFSA done. You may also add or remove schools from your list at a later date.

Q: My parent(s) are not helping me pay for college. Do I need parental information on the FAFSA?

Even if your parents don't contribute money toward your education, you're considered a dependent of your parents and need their information unless:

• You'll be twenty-four by January 1 of the school year
• You're an orphan, a ward of the court, or homeless
• You're a veteran or currently serve on active duty
• You're married
• You have a legal dependent other than your spouse
• You're a degree-seeking graduate student

Types of Aid

Grants

Grants are considered to be gift aid or funds awarded to students that are repaid. Federal grant programs include the Federal Pell Grant, the Federal Supplemental Educational Opportunity Grant, and the Teacher Education Assistance for College and Higher Education Grant.

Minnesota grant programs include the Minnesota State Grant, the MN GI Bill, the Postsecondary Child Care Grant, the Safety Officer Survivor's Grant, and the Minnesota Dream Act.

Scholarships

The Office of Admission awards scholarships to new-entering freshmen and transfer students. A number of scholarships are awarded by individual departments on campus. Applications are available from the appropriate office and online. See scholarship requirements here.

Work Study & Regular Pay

Students can work on-campus through work-study or regular student employment programs. A list of employment opportunities is available on the Financial Aid website. Students must locate their own job, are paid biweekly, and work an average of 10 hours per week.

Loans

A loan is a type of financial aid that must be repaid. There are several different loan programs. Some require payments while the student is enrolled; others do not. The interest rates vary from 3.4% to 12%.