Looking for Additional Payment or Financing Options?
Your financial aid award
notification lists any SD Mines Scholarships and Federal Student Aid for which
you qualify. If you are looking for additional options to help pay your bill,
here are some possibilities to consider that have been utilized by SD Mines
students. Of course individual students’ circumstances are different, so each
student and family will make a financial decision that works best for them.
- Federal Parent PLUS Loan – This is a federal
loan borrowed by a parent. The parent must not have adverse credit, as
determined by a credit check. SD Mines utilizes the Parent
PLUS Loan Information Form for parents to apply for a PLUS Loan. If the credit check determines that the parent is denied a PLUS Loan due to adverse credit, the student may borrow an additional Direct Unsubsidized Loan (additional $4,000 per year for freshmen and sophomores; additional $5,000 per year for juniors and seniors). The Federal Student Aid
website has more detailed information about the Parent PLUS Loan program. A
student must meet federal financial aid eligibility criteria in order to
receive PLUS Loan funds.
- Private Student Loans – A student may choose to
apply for a private student loan through a lender. Typically, a student must
obtain a credit-worthy co-signer in order to qualify for a private student
loan. A student may choose to first talk to his or her own bank to see if they
offer a private student loan program. SD Mines also provides a lender list to
provide assistance in comparing lenders and loan programs. Students are free to
choose any lender they wish.
- Payment Plan – SD Mines offers a semester-based payment
plan, which allows students to divide their remaining balance into 3 or 4
monthly payments throughout the semester. The payment plan has a participation
cost of $40 per semester.
- Outside Scholarships – Students may have been
awarded scholarships from outside agencies to assist with college expenses.
Please complete the Outside Financial
Assistance Form to notify the Financial Aid Office of any outside
scholarships you will be receiving. The SD Mines Scholarships
website has further information, including a list of STEM outside scholarships
for which you may be eligible to apply.
- Personal Savings/Earnings From Employment
- College Savings/529 Funds
- Military or Veterans’ Education Benefits
- Home Equity Loans/Lines of Credit
- Other Personal Bank Financing
SD Mines Estimated Costs 2016-2017 Academic Year
- Includes estimated amounts for tuition (15
credits per semester), fees, average cost of campus-controlled housing, meal plan, tablet PC
rental, and allowance for books.
- Payable on a per semester basis; student bills
are due in September for fall semester and in January for spring semester.
| | SD Resident
| MN Reciprocity
| Non-Resident
|
Tuition/Fees
| $11,160
| $11,160
| $15,320
|
Room/Board
| $7,720
| $7,720
| $7,720
|
Books/Supplies/Tablet PC
| $2,000
| $2,000
| $2,000
|
Estimated Total Cost
| $20,880
| $20,880
| $25,040
|