Understanding the Cost of Attendance at the University of Sioux Falls
The University of Sioux Falls (USF) is a private institution founded in 1883, offering a blend of quality education and Christian values. Understanding the financial aspects of attending USF is crucial for prospective students and their families. This article breaks down the various costs associated with attending the University of Sioux Falls, including tuition, fees, room and board, and other expenses, while also exploring available financial aid options.
Tuition and Fees
The annual tuition to attend University of Sioux Falls is $20,340. The cost is the same for both in-state and out-of-state students. The median undergraduate tuition at University of Sioux Falls is $20,340, which is $−4,235 less than the national average for Masters Colleges and Universities ($24,575).
University of Sioux Falls' tuition is $22,900. Compared with the national average cost of tuition of $47,097, University of Sioux Falls is cheaper. These figures include both tuition and fees, also referred to as the sticker price. Fees differ by institution and may fund library services, student gym facilities, student centers, technology resources and campus health centers.
To address the rising cost of college tuition, the University of Sioux Falls reset its undergraduate tuition price in 2018 by $10,000. This move places USF among the most affordable institutions in the region. And it helps make USF’s high-quality, personal educational experience accessible to more students of diverse socioeconomic backgrounds.
Room and Board and Other Expenses
On campus room and board is provided by the school at a cost of $8,960 per academic year. Room and board fees are an additional $8,960. The average yearly cost of room and board at University of Sioux Falls was of $8,988.
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If living on-campus, students should budget for $4,345 in additional living expenses. The average yearly cost of books and supplies was $1,000.
As you’re comparing costs of different institutions, also consider the total cost and the net price. At University of Sioux Falls, the total cost is $36,455.
Net Price and Financial Aid
The average reported annual net price for University of Sioux Falls for students receiving grants or scholarship aid was $21,049 in 2019/2020. In 2023 University of Sioux Falls had an average net price - the price paid after factoring in grants and loans - of $21,049. Between 2022 and 2023, the average net price of University of Sioux Falls grew by 0.439%.
The net price provides a more realistic estimate of the true cost of attending University of Sioux Falls, once common grants and scholarships have been taken into account. It's important to note that your net price will fluctuate based on factors such as family income, assets and individual financial need.
100% of full-time undergrad University of Sioux Falls received financial aid in the form of grants, scholarships, fellowships from the institution or from Federal, State or local government agencies. This aid averaged $11,692 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back.
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Financial aid can include grants, loans, scholarships and work-study jobs. Financial aid packages vary depending on your financial need. Most colleges determine financial need based on your FAFSA. Scholarships are a type of funding that you don’t need to pay back. Need-based scholarships take a student’s financial status into account. Merit-based scholarships are awarded to students for academic or athletic achievement. You might also qualify for a scholarship based on your community service involvement, unique hobbies or traits, your personal background, or a parent’s employer or military affiliation.
In 2023, 91% of undergraduate students attending University of Sioux Falls received financial aid through grants. Comparatively, 67% of undergraduate students received financial aid through loans.
The average need-based scholarship or grant awarded to first-year students at University of Sioux Falls was $14,914. Additionally, 65% of first-year students received need-based financial aid in fall 2023. Need-based self-help aid includes federal loans and work-study. The average need-based self-help aid awarded to first-year students was $3,753. The average non-need-based scholarship or grant awarded to first-year students at University of Sioux Falls - excluding any athletic scholarships, if applicable - was $5,597.
University of Sioux Falls met 72% of its students’ financial aid need.
Federal Aid and Loans
The average Pell Grant awarded for 2019/2020 was $4,673. To apply for a Pell Grant to attend University of Sioux Falls, the first step is to fill out the Free Application for Federal Student Aid (FAFSA).
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To gauge a more realistic picture of what it really could cost you out of pocket to go to University of Sioux Falls, we've modeled a ten year student loan with an original principal value of $84,196. The loan balance of $84,196 is a four year multiple of the $21,049 average net price. This is a estimate of what you could owe upon graduation if you were to qualify for average financial aid and what a degree really may cost. Should you not qualify for financial aid, you may owe significantly more when you graduate. Based on these assumptions, a monthly repayment of $957 could be required to pay off your student loan.
Please note that financial aid is not guaranteed and is only available for qualifying students. Federal Student Loans are not grants and must be repaid with interest. In order to afford student loan payments and still meet all your other costs of living, it is recommended not to borrow more than you can pay back using 10% of your monthly income earned after graduation. If you're considering attending University of Sioux Falls, should consider if it will be realistic to make the post graduation loan payments based on your expected salary.
At University of Sioux Falls, the median federal loan debt among borrowers who completed their undergraduate degree is $23,249. The median monthly federal loan payment (if it were repaid over 10 years at 5.05% interest) for student federal loan borrowers who graduated is $246. Additionally, 24% of graduating students at University of Sioux Falls took out private loans. Students with private loans had an average of $26,703 in private loan debt at graduation.
Additional Financial Considerations
CollegeSimply has modeled example payment coverage for the annual tuition and living expenses of $35,045.
Based on these assumptions, a monthly repayment of a $957.31 monthly payment in the example $84,196.00 loan modeled above. This assumes a repayment over 10 years. You can change the terms of this example loan using the student loan calculator below. View statistics about University of Sioux Falls student loan debt and graduate salaries under student outcomes. The estimation assumes a 2.6% annual increase over the next 4 years which has been the recent trend for this school. Estimated cost for a class at University of Sioux Falls based on published credit hour prices. Note that not all schools allow single class enrollment. Modify the loan assumptions to fit your financial situation and likely tuition price.
It is also important to consider student loan default rates. In 2022 the default rate for borrower's at University of Sioux Falls was 0%, corresponding to 0 out of the 437 total borrowers.
Enrollment and Outcomes
University of Sioux Falls had a total enrollment of 1,509 students. The full-time enrollment at University of Sioux Falls is 1,231 students and the part-time enrollment is 278. This means that 81.6% of students enrolled at University of Sioux Falls are enrolled full-time.
In 2023, 492 degrees were awarded across all undergraduate and graduate programs at University of Sioux Falls. 63.6% of these degrees were awarded to women, and 36.4% awarded men. The most common race/ethnicity group of degree recipients was white (405 degrees), 15.6 times more than then the next closest race/ethnicity group, hispanic or latino (26 degrees).
In 2023, 47% of students graduating from University of Sioux Falls completed their program within 100% "normal time" (i.e. 4 years for a 4-year degree). Comparatively, 58% completed their degrees within 150% of the normal time, and 58% within 200%.
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