ÌìÃÀ´«Ã½

What are some questions to ask Financial Aid Services?

• Will my aid offer cover my full cost of attendance?
• If I should need additional funding to cover educational expenses beyond the offered aid, what are my options?
• My family's financial situation has significantly changed, and the FAFSA/CSS Profile doesn't reflect the current circumstances. What can I do to represent the current situation?

What applications do I need to complete to apply for financial aid?

• All students who are U.S. citizens and must complete the each year to determine their eligibility for federal and state financial aid.
• Undergraduate students who are U.S. citizens and eligible non-citizens and want to be considered for institutional need-based aid must complete the . This form is very similar to the FAFSA, and we recommend completing both applications at the same time. There is a $25 cost for completing the CSS Profile.
• Students that are not U.S. citizens or eligible non-citizens, but are Texas residents, may complete the to be considered for state grant funding. These students are not eligible for institutional need-based aid.

What is ÌìÃÀ´«Ã½'s school code?

• FAFSA School Code = 003613
• CSS Profile School Code = 6660

Can you make too much money to qualify for financial aid?

Although some students may not qualify for need-based aid in the form of grants, most students qualify to receive non-need based federal loans.

Do I have to re-apply for financial aid each year?

Yes, all students must re-apply by renewing their FAFSA each year. Undergraduate students must also renew their CSS Profile each year to be considered for institutional need-based aid.

When is the deadline to apply for financial aid?

The priority deadline for first-year undergraduate students is February 15th each year. ÌìÃÀ´«Ã½ has a priority deadline of April 15 for continuing undergraduate students so that financial aid advisors can offer as much aid as possible after spring grades post in May. An undergraduate student who applies after the priority deadline may not receive primary consideration for certain financial aid funds that are limited. Graduate and professional students may file any time during the academic year; there is no priority deadline. However, ÌìÃÀ´«Ã½ recommends filing the FAFSA no later than May 1st in order to secure funding before the start of the term.

My parents do not claim me on their taxes, and I support myself. Can I claim myself as independent and only use my information on the FAFSA?

No, those reasons on their own does not make a student independent. There is a section of the FAFSA that is dedicated to determining whether a student is considered independent or dependent. This section will ask up to twelve (12) questions, and if you cannot answer "Yes" to at least one of them, then you will be considered a dependent student and must include your parent's information.

My parents are divorced. Whose information do I use on the FAFSA?

If your parents are divorced or separated, the parent who provided more financial support during the last 12 months is the contributor and must provide their information. If both parents provided an equal amount of financial support or if they don’t support you financially, the parent with the greater income and assets is the contributor and must provide their information. 

Do I have to live on campus?

All first- and second-year students are required to live on campus. It is possible to request a residency exemption with Residence Life and Student Housing (RLSH); however, only a few of these requests are approved each year. Please contact RLSH at housing@smu.edu or 214-768-2407 for more information.

What if I move off campus?

After the second year a student is allowed to live off campus. ÌìÃÀ´«Ã½ finds the expenses for living off campus to be less than living on campus. Please review the off-campus budget listed on our Cost of Attendance Information webpage because your aid will be reduced accordingly. If a student needs more funds to cover their off-campus housing expenses, please contact the ÌìÃÀ´«Ã½ Mane Desk at manedesk@smu.edu or (214) 768-5555.

How do I accept and decline my aid once it has been offered?

Please review our How to Accept/Decline Financial Aid webpage for more information.

Why would my financial aid package change if I change my housing arrangements?

To determine how much a student may receive in financial aid, schools must first determine how much it will cost you to go to school.  The “Cost of Attendance”, often referred to as the COA, is the starting point for all financial aid offers.  It includes allowances for tuition and fees, housing and food, books and supplies, transportation expenses, and personal/miscellaneous expenses.  Any change to one of these individual COA components will change the total COA and could have an effect on the total amount of financial aid you can receive.

The COA serves as the maximum limit a student may receive in financial aid.  The combined total of all financial aid programs cannot exceed the COA. Therefore, a change in housing will change the COA which, as a result, changes the amount you may receive in financial aid.

For example, the costs associated with living on-campus are considerably higher than the cost of living at home.  Therefore, a change in housing from on-campus to living at home could result in a reduction in financial aid.

What financial aid may change, and will I have to pay more to the University? 

It depends on the change.  Every student’s financial situation is unique.  Any need-based financial aid, such as the ÌìÃÀ´«Ã½ Opportunity Award, would likely be affected, but non-need-based aid, such as federal student loans, could be affected as well.  We recommend that you contact the ÌìÃÀ´«Ã½ Mane Desk at manedesk@smu.edu or (214) 768-5555 to see what the full impact will be for you.

What is the ÌìÃÀ´«Ã½ Opportunity Award? 

The ÌìÃÀ´«Ã½ Opportunity Award is a form of institutional need-based aid that is offered after consideration of all other scholarships and federal and state grants you may qualify to receive.  The amount is based on your demonstrated need that is not met by all other scholarships or grants and may therefore be different for each student.

Will a change in housing impact my academic or merit-based scholarship?

No, a change in your housing arrangements will not impact scholarships.

I have or will apply to live at home in the fall but return to on campus housing for the spring.  What happens to my aid? 

When you return to on campus living your Cost of Attendance will be updated to reflect the cost of living on campus.  Your spring aid would be reviewed and adjusted accordingly.

I have or will apply to live at home and will attend remotely for the academic year.  What happens to my aid? 

If you receive an exemption from living on campus, your educational costs would be adjusted to reflect the living at home arrangement, and your financial aid would be adjusted accordingly.

I have been approved for an exemption of the on-campus requirement, but I have changed my mind.  What can I do? 

You should immediately contact Residence Life and Student Housing if you decide you would like to return to campus.  If you are able to make this change, you should then contact the ÌìÃÀ´«Ã½ Mane Desk at manedesk@smu.edu or (214) 768-5555 to make the changes to your educational costs and awards to reflect living on campus.

Why was I selected for verification?

The Department of Education selects approximately 30% of all Free Application for Federal Student Aid (FAFSA) filers for verification review. If you have been selected for verification, it does not necessarily mean you have made a mistake. This is a routine part of the financial aid process that provides an opportunity to ensure the information provided is correct. If you are selected for verification, or if you are an undergraduate student and there is conflicting information between your FAFSA and CSS Profile, then we are required to verify the accuracy of the information reported.

My parents have filed an extension, and I have been selected for verification. What do I do now?

For an individual who is required to file an IRS income tax return and has been granted a filing extension by the IRS beyond the automatic six-month extension for relevant tax year the student must submit the following:

• For the 2024-2025 academic year --
  • A signed statement listing the sources of any 2022 income and the amount of income from each source;
    
  • A copy of the IRS's approval of an extension beyond the automatic six-month extension for tax year 2022;
    
  • A copy of IRS Form W-2 for each source of 2022 employment income received or an equivalent document; and
    
  • If self-employed, the signed statement must indicate the amount of estimated adjusted gross income (AGI) and U.S. income tax paid for tax year 2022.
    
    
• For the 2025-2026 academic year --
  • A signed statement listing the sources of any 2023 income and the amount of income from each source;
  • A copy of the IRS's approval of an extension beyond the automatic six-month extension for tax year 2023;
  • A copy of IRS Form W-2 for each source of 2023 employment income received or an equivalent document; and
  • If self-employed, the signed statement must indicate the amount of estimated AGI and U.S. income tax paid for tax year 2023. 

My tax information includes a Rollover from Untaxed Pensions or IRA Distributions. How do I report this to ÌìÃÀ´«Ã½?

The income section of the FAFSA for each possible contributor - student, student's spouse, parent, parent's spouse - includes questions/boxes where you can manually enter the amount of untaxed IRA distributions and/or untaxed pensions that are the result of a rollover. Any amount reported will be excluded from the Student Aid Index calculation.

How do I apply for a Pell Grant?

You are automatically considered for this federal need-based grant when you complete the FAFSA.

Are graduate students eligible for federal grants?

Graduate students are not eligible for federal grants like the Pell Grant; however, they may be eligible to receive the state Tuition Equalization Grant (TEG) depending on the results of the FAFSA and if they are Texas residents.

How do I apply for more scholarships?

Eligibility for merit-based scholarships is determined by our Admissions team when you enter the university. For additional scholarship opportunities, we recommend speaking with your department or researching outside scholarships available from private businesses, community organizations, etc. We have included a few resources below to assist with that search.

We will also periodically post scholarship opportunities on our Financial Literacy  and  feeds.

Are funds from Federal Work Study credited to my account?

Unlike other forms of financial aid, Federal Work Study funds must be earned through employment and will be issued to the student in the form of a bi-weekly paycheck. Students are able to use these paychecks as they see fit.

Will ÌìÃÀ´«Ã½ help me find a job?

Being offered Federal Work-Study does not guarantee you a job.  For a current list of on-campus jobs, internships, and post-graduation career opportunities, please visit .

What is a "Federal PLUS Estimate" on my award package?
This Parent PLUS estimate usually represents the maximum amount of funds your parent may borrow in one academic year to help pay university costs. The Financial Aid Office should be contacted to confirm the amount of a PLUS Loan.

I accepted the PLUS estimate. Why haven't these funds been posted to my student account?
After you accept this at , you will receive an email with detailed instructions for your parent. A parent must then apply for the loan through the Department of Education at in order to seek credit approval. The Department of Education and ÌìÃÀ´«Ã½ will facilitate the process of obtaining the funds after all requirements have been met. More information regarding PLUS loans may be found at PLUS Loan Information.

What is a "Federal GradPLUS loan"?
If this is the first time you have borrowed a Federal Direct Stafford loan at ÌìÃÀ´«Ã½, you will receive detailed instructions on completing the two-step process at . This process includes Entrance Counseling and completion of the Master Promissory Note (MPN). Both steps must be completed before the loan will disburse to the student's ÌìÃÀ´«Ã½ tuition account.

I accepted the Federal Direct Loan, but it has not been posted to my student account yet.
If this is the first time you have borrowed a Federal Direct Stafford loan at ÌìÃÀ´«Ã½, you will receive detailed instructions on completing the two-step process at . This process includes Entrance Counseling and completion of the Master Promissory Note (MPN). Both steps must be completed before the loan will disburse to the student's ÌìÃÀ´«Ã½ tuition account.

Does ÌìÃÀ´«Ã½ provide a list of lenders from which to choose private educational loans?
Like numerous institutions across the country, ÌìÃÀ´«Ã½ provides students and families to assist them in navigating the complexities of borrowing a private educational loan, however a borrower can choose any lender not on ÌìÃÀ´«Ã½'s lender list.

Can students and parents use other lenders?
Yes, ÌìÃÀ´«Ã½ allows students and their families to choose their own lender even if not on our . ÌìÃÀ´«Ã½ encourages all students to investigate a lender before choosing them.

What kind of research should I do regarding choosing a lender?
You should compare repayment benefits and discounts with different lenders you are reviewing including finding out if the repayment benefits are still applicable if the lender sells your loan to another servicer or lender. Some other things you can ask are what percentages of borrowers actually end up qualifying for the repayment benefits; what timeframe their customer service is available; if interest rates are fixed or variable; if interest rates are reduced for on-time payments or auto debit; and when repayment starts and if interest accrues between disbursement and repayment.

How does ÌìÃÀ´«Ã½ pick lenders for the lists?
ÌìÃÀ´«Ã½ sends an extensive survey to loan companies interested in processing private loans for students of the university. The survey is used to rate lenders for inclusion on one or more of the preferred lender lists. The university seeks lenders who offer the best customer service, secure electronic processes, repayment benefits, lowest origination points, and other benefits. You may contact the loan administrator at enrol_serv@smu.edu for further information on lender list selection. ÌìÃÀ´«Ã½ does not receive any payments, benefits or perks from lenders for consideration of inclusion on the ÌìÃÀ´«Ã½ lender lists.

Where do I view my bill?

Student and miscellaneous accounts can be viewed online at ÌìÃÀ´«Ã½Pay, which is found through the "Financials" option located on the my.ÌìÃÀ´«Ã½ Student Homepage.

My bill doesn't look correct. What should I do?

You should contact the ÌìÃÀ´«Ã½ Mane Desk at manedesk@smu.edu or (214) 768-5555.  If our Mane Desk staff is unable to address your question, they will reach out to our Student Accounts team to research further.

How much does it cost to attend ÌìÃÀ´«Ã½?

Tuition and fee charges may be found on our Cost of Attendance webpage.

What happens to my financial aid if I drop a class?
As long as undergraduate students remain enrolled in 12-18 hours, they are still considered full-time; therefore, their financial aid will not be affected. However, students who drop below 12 hours should check with their financial aid advisor regarding any possible changes to their financial aid package.

Must I be full-time to receive financial aid?
If an undergraduate student is receiving federal and institutional need based aid, 12 hours is considered full time. However, ÌìÃÀ´«Ã½ encourages all undergraduate students to enroll and complete 15 hours each semester so that they may graduate in 4 years (8 semesters). Sometimes completing 15 hours per semester may not be sufficient to graduate in 4 years, so students should consider attending summer school for 1-2 terms.

How many terms may I receive financial aid?
Typically, institutional scholarships and need based aid are awarded for 8 semesters only to those who began ÌìÃÀ´«Ã½ as first-year undergraduate students; students who enrolled as transfers usually receive institutional scholarships and need based aid for 5 semesters only.

How do I contact Financial Aid Services?

The ÌìÃÀ´«Ã½ Mane Desk serves as the main point of contact for Financial Aid Services.  The Mane Desk is located on the first floor of the Laura Lee Blanton Building and may also be reached via email at manedesk@smu.edu or phone at (214) 768-5555.  If our Mane Desk staff is unable to address your question, they will reach out to a Financial Aid Advisor to research further.