by our College Data Analytics TeamFinancial aid in the form of loans, grants, work-study, and scholarships is one way colleges reduce the cost of attendance so most students can actually afford to attend.
What financial aid options does USI offer, and what will you qualify for? Keep scrolling for answers.
$6,048.00 is the typical University of Southern Indiana’s first year financial aid package. Financial aid is provided to about 96% of first-year students, with the bulk of support coming in the form of 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.
Student debt should be thought of as an “outcome” rather than “aid”. Read more about student loan debt at University of Southern Indiana.
Financial awards given by a college or university to its students, known as institutional scholarships and grants, help to offset the cost of tuition and other education-related expenses. These awards fall into two categories: merit-based and need-based, and they do not need to be paid back. Merit-based institutional scholarships are granted to students who have shown outstanding academic accomplishments, special talents, or abilities in a particular field. Factors such as high school performance, standardized test results, or involvement in extracurricular activities often contribute to these scholarship decisions. Conversely, need-based institutional grants cater to students who demonstrate financial need. The awarded amount is typically based on the student’s family’s financial standing and is intended to cover the difference between the cost of attendance and the family’s ability to contribute. Colleges and universities might use data from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms to determine a student’s eligibility for need-based grants. Institutional scholarships and grants are a vital source of financial support for students, as they can significantly reduce the cost of attending college and help make higher education more accessible.
The stats below refer to aid that is provided by University of Southern Indiana.
64% of incoming freshmen (1000 total) were awarded scholarships at University of Southern Indiana, averaging $3,668.00 a piece. This puts it in the top 50th percentile among colleges and universities nationwide.
As well as scholarships, 88% of first-year students (1372 total) got a federal grant, for about $2,595.00 per person.
Amount of Financial Assistance Per Income Level
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 15.61% | $12,331.00 |
| Income 30k-48k | 10.43% | $9,706.00 |
| Income 48k-75k | 9.98% | $5,660.00 |
| Income 75k-110k | 11.84% | $2,520.00 |
| Income 110k + | 13.50% | $2,370.00 |
The table above shows students who are receiving Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more.
96% of the 1563 undergraduates at University of Southern Indiana receive some sort of grant aid. This is a total of about 1478 students getting an average of $6,048.00 per person.
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.