OVERVIEW PROGRAMS AND TUITION ADMISSIONSFINANCIAL AID

Southwest Minnesota State University Financial Aid and Scholarships 2022

Located in Marshall, Minnesota, Southwest Minnesota State University is a public university. Around 91% of the students are 24 and under at Southwest Minnesota State University. At SMSU around 83% are white, 5% belong to Hispanic ethnicity, and 3% belong to two or more races. And, when it comes to gender distribution at the varsity, around 60% of the students are females and 40% are males. Isiah Whitlock Jr., Marty Seifert, Alvin Ashley, and Bill Northey are some of the well-known alumni of t

Southwest Minnesota State University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

24%

Total Aid Amount Average Total Aid Awarded per year.

$8.738M

Financial Aid Official Website

www.smsu.edu/campuslife/financialaid/index.html

Notably, 97% of the students at Southwest Minnesota State University get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $7,461,108. Notably, a total of 42% of the applicants to Southwest Minnesota State University receive the Federal Grant every year. In comparison, 94% of the students are awarded the Student Grant, 82% get the Institution Grant, and 42% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $4,641, the State Grant receivers and Institution Grant beneficiaries get $2,768 and $2,463, respectively. On the other hand, the average aid received by the Pell Grant awardees is $4,075. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Candidates are also required to repay these loans within a given period. At SMSU, an estimated number of 70% of the applicants choose to go for student loans.

Minumum Credit Score	Apply in as little as	Variable APR	Fixed APR
Not Available	15 minutes or less	2.95	4.74	View disclosures
620	2 minutes	5.38%-16.99%¹	4.43%-16.99%¹	View disclosures
Not Available	15 minutes	1.13% - 11.23%¹ (with autopay)	3.50% - 12.60%¹ (with autopay)	View disclosures

Minumum Credit Score

Apply in as little as

Variable APR

Fixed APR

Not Available

15 minutes or less

2.95

4.74

View disclosures

620

2 minutes

5.38%-16.99%¹

4.43%-16.99%¹

View disclosures

Not Available

15 minutes

1.13% - 11.23%¹ (with autopay)

3.50% - 12.60%¹ (with autopay)

View disclosures

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