Student Loans for SMU Students
About Southern Methodist University
Based in Dallas, Texas, Southern Methodist University (SMU) is a private educational institution established in 1911 by the Methodist Episcopal Church. The hundred-year-old university has expanded over the years and now operates campuses in both Plano and Taos, near New Mexico and Dallas. The campus in Dallas is comprised of 76 artistically-constructed buildings on the 210-acre campus. As the university offers state-of-the-art programs in diverse fields of study including graduate programs, the U.S. News & World Report has rated the university 62nd in the category of national universities, which means that SMU is a leader of education in Texas.
Applying for Southern Methodist University Student Loans
If you’re thinking of joining an SMU program, then don’t forget to apply for SMU financial aid. In today’s economy marked by inflation, you’ll find it difficult to pay for your entire college expenses without seeking financial assistance. Therefore, you should apply for financial aid by filling out your Free Application for Federal Student Aid (FAFSA), conveniently available online at fafsa.ed.gov. Also, fill out your CSS Profile as it is needed to further assess your financial need. Make sure that you’ve given the correct SMU codes on both the forms.
SMU Financial Aid Packages
The federal government uses the information provided in FAFSA to calculate your expected family contribution (EFC). This result is sent in the form of Student Aid Report (SAR) to you and the universities that you have listed on your FAFSA. The Southern Methodist University Financial Aid Office uses the SAR to assemble your financial aid package. The SMU financial aid package usually consists of federal funding opportunities such as low-interest loans, grants, work-study, and state-based funding opportunities. You’ll also be considered for institutional merit-based scholarships such as President’s Scholars, SMU Scholars, and University Scholars, irrespective of whether you apply for SMU financial aid or not. The SMU financial aid award letter will be mailed to you detailing the extent of your funding opportunities.
If you feel that the package is not sufficient to cover your college expenses, then you can apply for private loans. You can easily use our loan Comparison Tool to search for and compare loan packages offered by different private lenders in order to decide on a suitable loan.
The President’s Scholarship is a highly selective award given to approximately 30 undergraduates. The award covers full tuition and general fees, and is renewable for four years (with regard to academic performance). Students receiving this aid are also eligible for the Campus Community Award, which pays for food and residence.
Pay for Southern Methodist University*
|Total Avg. Cost||$53,285|
|Room & Board||$12,655|
|Financial Aid Information|
|Students Receiving Fin Aid||76%|
|Typical Grant Amounts|
|Avg. Other Stud. Loans||$7,334|
|%Receiving Other Loans||7%|
Get into Southern Methodist University
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*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics