by our College Data Analytics TeamMost students won’t pay the advertised price of a school. Instead, they will be provided with a financial aid plan that includes a mix of scholarships, grants, loans, and work-study. But some kinds of aid are more desirable than others, and some students will get more than others.
What amount of SD Mines financial assistance will actually be available to you?Get answers to your questions here.
South Dakota School of Mines and Technology average financial aid offer for freshmen students is $5,343.00. 95% of first-year students are awarded financial aid, primarily comprising loans.
Loans are a part of financial aid plans, but the only true college discount is a scholarship or grant that you don’t have to repay.
Concerned about the student loans that might be part of your financing deal? Look at the average amount of debt per student at South Dakota School of Mines and Technology.
Institutional scholarships and grants are financial aid awards given by colleges and universities to help students manage tuition costs and other education-related expenses. These awards, which do not need to be repaid, can be classified as merit-based or need-based. Students who excel academically, possess unique talents, or have specific skills can be eligible for merit-based institutional scholarships. Factors such as high school performance, standardized test scores, or participation in extracurricular activities often contribute to eligibility for these scholarships. Need-based institutional grants, on the other hand, are awarded to students who demonstrate financial need. The amount given is generally based on the student’s family’s financial situation, aiming to cover the gap between the cost of attendance and the family’s capacity to pay. To assess a student’s eligibility for need-based grants, colleges and universities may rely on information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants are essential for students, as they can substantially lower college expenses and make higher education more affordable.
The following numbers pertain to assistance that is supplied by South Dakota School of Mines and Technology.
78% of new students (366 total) were offered scholarships at South Dakota School of Mines and Technology, averaging $4,264.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
As well as scholarships, 38% of first-year students (177 total) got a federal grant, for about $3,654.00 per person.
The next table demonstrates grant and scholarship distributions by income level for freshmen getting any form of federally-funded Title IV aid, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 5.35% | $8,373.00 |
| Income 30k-48k | 4.50% | $8,342.00 |
| Income 48k-75k | 8.99% | $5,324.00 |
| Income 75k-110k | 8.57% | $3,536.00 |
| Income 110k + | 12.63% | $3,937.00 |
The table above displays students who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Get more info on Title IV here.
410 SD Mines undergrads obtain grant aid (this is about 95% of the entire undergraduate student population). The average amount these students receive is $5,343.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.