Need-Based Financial Aid

Need-Based Aid

Filing the FAFSA (Free Application for Federal Student Aid) determines your eligibility for federal and Augustana need-based financial aid. This can be completed at studentaid.gov starting October 1 prior to the upcoming academic year.

Need-based aid can include grants, loans, and work-study.

File the FAFSA

Need-Based Scholarship Opportunities

Hatterscheidt Scholarship

Available to high school seniors who are South Dakota residents, have at least a 3.0 GPA and demonstrate financial need.
Amount available | $2,500 per year, non-renewable
Application form | Hatterscheidt Scholarship Application due by March 15

Horatio Alger Denny Sanford Scholarship

Available to current high school seniors who plan to enroll at Augustana. Must demonstrate financial need, be involved in community service activities, display integrity and perseverance in overcoming adversity, be a U.S. Citizen and have a 2.5 GPA.
Amount available | Six scholarships at $25,000 each. Scholarship awarded over four years.
Application form | Complete the application beginning Dec. 1

South Dakota Freedom Scholarship

Visit the Freedom Scholarship webpage for more information about eligibility and how to apply.

Need-Based Financial Aid FAQs

What is the FAFSA?

The FAFSA is the Free Application for Federal Student Aid. Augustana University strongly recommends but does not require all students to complete the FAFSA. More information can be found at studentaid.gov.

What is Augustana's FAFSA Code?

003458

Do I have to apply for financial aid each year?

Yes. An email notice should be sent to you each year to remind you to complete the FAFSA. You may update the FAFSA form online each year at studentaid.gov.

When does the FAFSA Open? What is the deadline?

The 2025-2026 FAFSA will be available to file in December. The recommended deadline for submitting your FAFSA is March 1. Continuing students are encouraged to submit the FAFSA by May 1.

My parents are divorced. How do I complete the FAFSA?

Students should file the FAFSA with the parent who provides the greater portion of their financial support.

If I'm 18 and responsible for my own expenses, can I be considered a self-supporting (independent) student on the FAFSA?

In a word, no. Federal guidelines indicate a student may be considered independent if they meet one of the following criteria:

is at least 24 by December 31 of the award year
is an orphan or ward of the court
is a veteran of the US Armed Forces
is currently serving on active duty in the US Armed Forces for purposes other than training
is a graduate or professional student
is a married student
is a student who has legal dependents other than a spouse
is a student with unusual circumstances as determined by a financial aid administrator
is homeless or at risk of becoming homeless

What is the Student Aid Index (SAI)?

The Student Aid Index (SAI) is a formula-based index number ranging from -1500 to 999999. It is determined through completion of the FAFSA and based on your family's financial situation. Your SAI will be the same at every institution but the financial aid you are eligible for may vary.

What's the difference between subsidized and unsubsidized Direct loans?

A subsidized direct loan is awarded on the basis of need. It is a low interest rate loan with no interest accruing while in college. An unsubsidized direct loan is not awarded on the basis of need. This loan accrues interest from the time of disbursement. We encourage students to pay the interest on this loan; however, it is not required.