Our priority due date for receipt of a complete financial aid application file [Free Application for Federal Student Aid (FAFSA) and other requested documents] for the 2010-11 academic year was April 1, 2010. If we received your complete application by the deadline you were assured of consideration for the best financial aid award packages available as outlined below. Due to funding limitations, the total maximum award students will receive from campus-based funds [Federal Perkins Loan, Federal Supplemental Educational Opportunity Grant (SEOG), and Federal Work-Study (FWS)] will be $8,000. Awards from nursing and health professions programs may not be subject to the same limit. Regrettably, funding is never sufficient to meet the total need of all students. Therefore, the total of your awarded financial aid may be less than your need. Remaining need may be met through other programs, generally through additional borrowing. Information about the Federal Direct Parent Loan (PLUS) and other non-need-based educational loan programs from private sources is available in our office and on our webpage.

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To qualify for federal financial aid you must complete the Free Application for Federal Student Aid (FAFSA). Based on information reported by you on this application, an analysis of what you and your family should be able to contribute towards your educational costs is determined. This determination is uniformly applied to all aid applicants and is mandated by federal law.

Standard student expense budgets are carefully researched and developed each year. When we received your FAFSA analysis, an appropriate student expense budget, based upon your fee structure and housing status, was assigned.  If, according to federal definition, you are dependent upon your parents, they are expected to contribute toward your educational costs based upon an analysis of the information reported on your FAFSA. The fundamental philosophy of federal financial aid is that the responsibility of paying for college rests with you and your family. If you are independent, you (and your spouse, if married) are expected to contribute a significant portion of your income and assets toward meeting your educational expenses. Federal law prescribes the calculation of your (including your family's) contribution. Your financial need was computed by comparing your expected contribution (as listed on your Student Aid Report) to your student expense budget. Most federal financial aid programs require that a student demonstrate financial need. There are, however, private and federal loan programs where need is not a requirement.

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Your financial aid budget is comprised of the various costs associated with your attendance for an academic year or summer sessions. It includes not only direct costs to the University such as tuition, fees, room and board, but it also provides allowances for books and supplies, personal expenses and travel to the campus. We use standard student budgets in order to efficiently process a large number of applications and to ensure equitable treatment. If you believe that you have costs that are appreciably different than those allowed, you may visit our office and speak with a counselor who will evaluate your circumstances.

Below you find representative student budgets that and are based upon full-time enrollment for an academic year, fall and spring semesters. Students enrolled in the health professions programs, and Schools of Business, Law and Medicine have higher tuition amounts and those amounts are reflected in their student budgets. Also, non-resident students who receive a qualifying University scholarship receive a reduced tuition amount. For a list of all student financial aid budgets, please contact our office.

These budgets are accurate projections at the time of this web page update and may change based upon final tuition amounts as determined by the University Board of Trustees.

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This section describes the process whereby campus based and other federal financial aid funds are awarded. The process is first used for students who have met the April 1 priority deadline and whose application are among those found to be complete at the time award packaging is begun. Generally, campus based funds are completely awarded after the initial packaging run in April. After that, awards will be comprised of aid programs as requested and available at the time of packaging.  The first step in packaging an award recognizes any scholarship, assistantship, fellowship, or Federal Pell Grant eligibility that may be scheduled and any outside aid source known or anticipated about which we have knowledge. We attempt to estimate all sources of assistance you are likely to receive and use those resources when determining eligibility for all types of federal and state financial aid.

Once all Admissions and Records Office data become final, if you are an undergraduate, South Carolina resident, you will be considered for an official LIFE scholarship for the 2010-2011 academic year. This determination will not occur until the conclusion of the 2009-2010 academic year; therefore, official LIFE scholarships may not appear on the early award notifications. You may, however, have an estimated LIFE scholarship listed. Once LIFE scholarships are awarded and official, earlier awards will be updated and you will receive a new award notification.

The second step will be to award Federal Supplemental Educational Opportunity Grants (FSEOG) up to a maximum of $1,500 to students who have Federal Pell Grant eligibility and the lowest Expected Family Contribution (EFC). This review continues until FSEOG funds are completely awarded. Historically, FSEOG funds are awarded very quickly and only to students who have met the priority deadline.

Next, our system will consider full-time undergraduate South Carolina residents and award State Need-Based Grants (SNBG) to students who meet established program requirements. You must have unmet need, maintain a 2.0 GPA and earn at least 24 hours per academic year to be eligible. The Commission on Higher Education determines the amount of State Need-Based Grant funds for USC, and funding is limited.

The fourth step packages the base amount of Federal Direct Loan eligibility (subsidized and unsubsidized) up to the unmet need or the annual program maximums. If eligibility remains after this step, you will be awarded Federal Perkins Loan or Federal Work-Study funds according to the preference indicated on your FAFSA. Awards can range up to a maximum of $3000 for Perkins and $3500 for Work- Study or up to your remaining financial eligibility if less than these amounts. Perkins Loans must be targeted to students with exceptional financial need defined as those with the lowest EFC. Nursing or health professions are also awarded subject to program policy limits in this step.

If you are an independent student (as defined by federal statute), an additional unsubsidized Federal Direct Loan will be processed for an amount up to the annual program maximum or the remaining difference between the total cost of attendance (student expense budget) and the total of all of your other aid. If you receive this additional unsubsidized loan, we strongly urge you to carefully examine your need for it and consider reducing or declining it if it is not absolutely necessary.  Any remaining eligibility after the previous steps have been taken may be met through either a PLUS Loan for dependent students or any number of non-federal, private loan programs offered by a variety of lending or financial organizations. You must make a separate request if you want to apply for any of these loans. We will not award these unless you ask for them.

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