Undergraduate students based on financial need.
Complete the Free Application for Federal Student Aid at: studentaid.gov
BHSU will send you a financial aid offer indicating your maximum Federal Direct Subsidized Loan eligibility and will provide you with instructions on how to accept it. Please review the Award Handbook for your rights and responsibilities as a student borrower and if you have questions, please contact the Financial Aid Office.
Once student has completed paperwork, the student is awarded aid. Direct Subsidized Loans are based on need left after all other need-based aid is awarded. When reviewing eligibility, all Subsidized will be given prior to Unsubsidized.
(Beginning )
Freshman -- $3,500
Sophomore -- $4,500
Junior/Senior -- $5,500
$23,000
Up to 1.1% fee on each loan.
Interest is paid by the federal government during the grace period on loans disbursed prior to . After , all new loan interest begins at the time of dropping below half-time/graduation. Beginning , the federal government will pay interest during the grace period on new loans.
Interest rate is fixed at 4.99% beginning for undergraduate students and 6.54% for graduate student borrowers. New interest rates will be determined each of each year, with that interest rate being fixed for the lifetime of the loan.
Interest is paid on the Direct Subsidized Loan by the federal government while the student is in school (except between , and , those loans will NOT have interest paid during the grace period or deferment periods).
Repayment starts six months after graduation, withdrawal, or dropping below half-time enrollment.
$50 minimum monthly; 10-year maximum repayment period.
For more information about repayment please contact your loan servicer(s).
Review studentloans.gov for your servicer and total borrowings of federal loans.
Undergraduate, graduate, and professional students are eligible. Eligibility is not based on financial need.
Complete the Free Application for Federal Student Aid at: studentaid.gov
BHSU will send you a financial aid offer indicating your maximum Federal Direct Subsidized Loan eligibility and will provide you with instructions on how to accept it. Please review the Award Handbook for your rights and responsibilities as a student borrower and if you have questions, please contact the Financial Aid Office.
Once student has completed paperwork, the student is awarded aid. Direct Unsubsidized Loans are based on remaining cost after all other aid is awarded. When reviewing eligibility, all Subsidized will be given prior to Unsubsidized.
Freshman -- $5,500 (no more than $3,500 of this amount may be in Subsidized loan)
Sophomore -- $6,500 (no more than $4,500 of this amount may be in Subsidized loan)
Junior/Senior -- $7,500 (no more than $5,500 of this amount may be in Subsidized loan)
Freshman -- $9,500 (no more than $3,500 of this amount may be in the Subsidized loan)
Sophomore -- $10,500 (no more than $4,500 of this amount may be in the Subsidized loan)
Junior/Senior -- $12,500 (no more than $5,500 of this amount may be in the Subsidized loan)
Graduate/Professional -- $20,500 (not eligible for the Subsidized loan)
$31,000 dependent undergraduate students
$57,500 independent undergraduate students
$138,500 graduate/professional students
Up to 1.1% fee on each loan.
Interest begins accruing at time of disbursement. Students are encouraged to make interest payments while in school, however, they can let the interest capitalize making the loan an extremely higher loan.
Interest rate is a fixed 4.99% for undergraduate Unsubsidized loans and 6.54% for graduate/professional Unsubsidized loans, beginning . New interest rates will be determined each , with that interest rate being fixed for the life of that loan.
Interest begins accruing from the date the funds are disbursed. The borrower may make the interest payment or have them capitalized. Payments may be deferred up to six months after graduation, withdrawal, or dropping below half-time enrollment. $50 minimum monthly payment; 10-year maximum repayment period.
For more information about repayment please contact your loan servicer(s).
Review studentaid.gov for your servicer and total borrowings of federal loans
Natural or adoptive parents of dependent students who meet federal government eligibility requirements can apply. A credit analysis will be required. Please review the Award Handbook for your rights and responsibilities as a parent borrower. Contact the Financial Aid Office if you have any questions.
The student must complete the Free Application for Federal Student Aid (FAFSA).
The PLUS application is completed electronically. After submitting the application, the parent is notified instantly of the credit decision. If the application is approved, the parent who applied for the loan is required to complete the master promissory note - MPN for Parents - in order to borrow the loan.
Cost of attendance per child minus other aid is the maximum the parent is eligible to borrow in the PLUS. The Financial Aid Office determines the maximum amount allowed.
Up to 4.5% fee on each loan.
Interest begins to accrue from the date the funds are disbursed.
Interest rates are fixed. The current interest rate (beginning ) is 5.30%; on of each year a new interest rate is determined.
Repayment begins 60 days after the loan is fully disbursed. $50 minimum monthly payment; 10-year maximum repayment period.
For more information about repayment, please contact your loan servicer(s).
Review studentaid.gov for your servicer and your total federal loan borrowings.
Federal Pell and Federal Supplemental Educational Opportunity (SEOG) grants are awarded on the basis of financial need to undergraduate students. Federal TEACH Grant is based on GPA or academic testing and is available to both undergraduate and graduate students. The agreement to serve and counseling (found at: studentaid.gov/teach-grant-program) must be completed if the student is eligible. TEACH recipients must teach for four years in a high-need field in a low-income school as defined by the Department of Education. For additional information on federal grants please review the Award Handbook or contact the Financial Aid Office.
Complete Free Application for Federal Student Aid.
The FAFSA is available after of each year for the following summer, fall, and spring semesters' aid. Funding is limited for SEOG. Students who submit the FAFSA by (the priority deadline) will be considered for SEOG.
Students going into educational careers in high needs areas may be eligible to receive funding through the Federal TEACH Grant. Please visit https://studentaid.gov/understand-aid/types/grants/teach to read about eligibility requirements and complete the federally required documentation. Then, use the link below to apply for the TEACH Grant through BHSU.
All students must complete the application, agreement to serve, and initial counseling.
First-time borrowers must complete Loan Entrance Counseling and a Master Promissory Note (MPN) (see link below).
You can review your Federal Perkins Loan indebtedness on the NSLDS site link above, however for exit interview counseling please contact University Accounting Service, LLC (UAS) at 1-800-999-6227 for questions about your Perkins Loan.
Financial Aid Office
BHSUfinancial@bhsu.edu
Phone: 605-642-6145
Fax: 605-642-6913
Black Hills State University
1200 University St. Unit 9670
Spearfish, SD, USA 57799-9670
1200 University Street
Spearfish, SD
57799-9502
Phone: 605.642.6131
Fax: 605.642.6254
Admissions@BHSU.edu
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57719-9502
Phone: 605.718.4112
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