The Federal Pell Grant is a grant for undergraduate students who demonstrate financial need based on FAFSA information and have not earned a bachelor’s, graduate, or professional degree. The amounts change yearly; for the most up-to-date information, visit the Federal Pell Grant link above. 

Unlike a loan, the Federal Pell Grant does not have to be repaid, except under certain circumstances, which can be found here.

Application and Disbursement Steps

1. Complete the FAFSA
2. Review your aid offer in the Financial Aid Self-Service Portal

The Federal Supplemental Educational Opportunity Grant is a grant for undergraduate students with exceptional financial need. SEOG funds are limited by U.S. Department of Education allocation; priority is given to those students who apply early by completing the FAFSA.

Application and Disbursement Steps

1. Complete the FAFSA
2. Review your financial aid information in the Financial Aid Self-Service Portal

Congress created the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program through the College Cost Reduction and Access Act of 2007 that provides grants for up to $4,000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low income families. In exchange for receiving a TEACH Grant, you must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low-income students. As a recipient of a TEACH Grant, you must teach at least four academic years within eight calendar years of completing the program of study for which you received the TEACH Grant.

IMPORTANT: If you fail to complete this service obligation, all amounts of the TEACH Grants that you received will be converted to Federal Direct Unsubsidized Stafford Loans. You must then repay this loan to the U.S. Department of Education. You will be charged interest from the date the grant(s) was disbursed.

Application and Disbursement Steps

1. Complete the FAFSA each year
2. Complete TEACH Grant Initial and Subsequent Counseling each year
3. Complete an Agreement to Serve or Repay each year
4. Complete the BHSU TEACH Grant Application each year
5. Review your financial aid information in the Financial Aid Self-Service Portal

Federal Work-Study provides part-time jobs on and off-campus for students who show financial need on the FAFSA. Funds are limited, and priority is given to those students who complete the FAFSA early. 

For more information, visit our Student Employment page.

Wages

Students earn at least the federal/state minimum wage for their work and average about 10 hours per week. Payroll is processed on a monthly basis.

Application Steps

1. Complete the FAFSA
2. Review your financial aid information in the Financial Aid Self-Service Portal
3. Find a job via Handshake
4. Complete the necessary HR hiring paperwork

Repayment

The William D. Ford Federal Direct Loan (Direct Loan) Program includes Direct Subsidized and Unsubsidized Loans. Your FAFSA Form is the application for this program. If you are an undergraduate student, the maximum amount you can borrow each year varies from $5,500 to $12,500 depending on your year in school and dependency level. If you are a graduate student, the maximum amount you can borrow each year is $20,500.

 The Direct Subsidized Loan is a need-based loan for undergraduate students who have financial need based on the information submitted on the FAFSA. The interest on the Direct Subsidized Loan is paid by the U.S. Department of Education while the student is in school at least half-time.

The Direct Unsubsidized Loan is a loan not based on financial need for undergraduate and graduate students. This loan accrues interest while the student is still in school, but the borrower has the option to pay the interest while in school. If he/she chooses not to pay the interest, the interest is added to the principal of the loan.

Application and Disbursement Steps

1. Complete the FAFSA
2. Complete Entrance Counseling
3. Complete the Master Promissory Note
4. Review your financial aid information in the Financial Aid Self-Service Portal

Interest Rates and Loan Fees

The interest rates on federal loans vary based on loan type and disbursement date. For current info, please visit the Federal Student Aid website. 

Repayment

Students who use Direct Loans are not required to make payments until six months after they leave school or drop below half-time enrollment. Before entering repayment, a student will want to review borrowed loan amounts at the Federal Student Aid website and develop a repayment plan. 

The Direct Parent PLUS Loan is a loan made available to eligible parents of a dependent, undergraduate student to help pay for the student’s education. 

The loan process does require a credit check and an application to be completed by the parent. If the application is denied, the parent can submit an Appeal or find an Endorser. If an appeal is not submitted or endorser found, the student may be eligible for Additional Unsubsidized Loan funds. 

Application and Disbursement Steps 

1. After the student's FAFSA has been processed, the parent completes the online Direct PLUS Loan Application.
   1. Please note: There are two types of applications; it is important that the parent choose: “I am a Parent of an Undergraduate Student”. 
2. The parent completes the online Direct PLUS Loan Master Promissory Note.
   1. Please note: It is important that the parent choose: "I'm a parent of an Undergraduate Student".
3. Review your financial aid information in the Financial Aid Self-Service Portal

Interest Rates and Loan Fees

The interest rates on federal loans vary based on loan type and disbursement date. For current info, please visit the Federal Student Aid website. 

Repayment

Parent PLUS Loan borrowers are eligible for several repayment plans. Parent borrowers will want to review borrowed loan amounts at the Federal Student Aid website and develop a repayment plan. 

Under federal law, the authority for schools to make new Perkins Loans ended on Sept. 30, 2017, and final disbursements were permitted through June 30, 2018. As a result, students can no longer receive Perkins Loans.

A borrower who received a Perkins Loan at BHSU can learn more about managing the repayment of the loan by contacting BHSU's loan servicer - UAS.

Loan limits, interest rates, and repayment terms vary; you will want to review each one find the best fit for you. A cosigner may allow a better interest rate. Below is a list of lenders that BHSU students have used over the last several years. 

• Ascent
• Bank of Lake Mills
• Bank of North Dakota
• Citizens
• College Ave
• Custom Choice Loan
• Discover
• Earnest
• Lendkey Technologies
• NelNet
• Sallie Mae
• SOFI
• Thrivent Credit Union
• Union Federal 
• UNIWYO Credit Union

Private Lending for Higher Education tool helpful to compare interest rates and benefits. This is not an all-inclusive list of lenders; be sure to research options like local lenders as well.

The Department of Veterans Affairs offers programs for Veterans and service persons seeking assistance for education: The GI Bill, Reserve Educational Assistance Program (REAP), Survivors' and Dependents' Educational Assistance Program (DEAP), and Vocational Rehabilitation. Veterans should contact Greg Krajewski or call 605.642.6030 for further information.

Members of the National Guard and Reserve may be eligible for the Montgomery GI Bill. This is an education program that provides up to 36 months of benefits. Currently eligible members receive $384 per month for educational expenses. In addition, both the National Guard and Army reserve offer a student loan repayment program.

Members of the South Dakota National Guard may be eligible for a 100% tuition reduction. For further information on any of these programs, contact your National Guard or Reserve unit.

BIA grants are available to Native American students. Recipients must be at least one-quarter Native American and an enrolled member of a tribe. Contact the Education Office of your tribe for further information.

BHSU's Center for American Indian Studies also has additional resources.

When searching for scholarships not offered by Black Hills State University, there are a number of avenues to explore.

We highly recommend checking with your high school guidance counselor. Your counselor often has information from local businesses and organizations about scholarships they award to high school seniors. Another popular method of looking for outside scholarships is through Internet sites and scholarship search companies. Beware of companies that guarantee scholarships for a fee. You’ve heard it before: if it sounds too good to be true, it probably is.

Listed below are several sites you may want to explore in order to learn more about financial aid and discover other possible financial aid sources:

• AmeriCorps
• Best Colleges - Financial Aid for Military Service Members and Student Veterans
• Employers - educational assistance is offered by some employers. Be sure to check with your/your parents' employers for opportunities. 
• FastWeb!
• FinAid
• Hispanic Resources
• Professions That Pay Tuition Reimbursement
• Scholarships.com
• Scholarship America
• SD Department of Social Services - Education and Training Vouchers (ETV)
• StudentAid.gov - Finding and Apply for Scholarships
• StudentAid.gov - Help Center
• The U.S. Department of Education
• The U.S. Department of Education - Office of Indian Education 
• Unigo
• Veterans Benefits Administration