Financial Aid Basics
Financial aid programs at University of the Southwest are funded through a variety of sources. Various financial assistance programs are used to recognize academic, athletic, or special achievement, meet financial needs, or provide self-help opportunities through college work-study programs and parent/student loans.
While it is not possible to guarantee funding to every applicant in need, the financial aid programs at University of the Southwest are designed to assist with the difference between the direct costs of attending Southwest and the student's or parent's own resources as determined by the results of the Free Application for Federal Student Aid (FAFSA). The FAFSA is the only application required to apply for federal and state financial aid. Information the student provides on the FAFSA determines the Expected Family Contribution (EFC). The EFC is the amount the federal government expects the student and family to contribute to meet the cost of attendance (COA). COA includes tuition, fees, books and supplies, housing, food, transportation, and personal expenses. These expenses can be covered by student and/or parent loans, student employment, family employment, family resources, savings, as well as other financial aid for which the student is eligible. The EFC is subtracted from the direct COA to determine the student's financial need. The EFC amount can be paid by the student/family or non-need based aid such as education loans may be utilized. Each application is reviewed on an individual basis to determine the amounts and types of financial aid which would best serve the student. All undergraduate students are encouraged to complete and file the FAFSA each year to be eligible to receive federal or state financial aid at Southwest.
If you have questions or comments related to the financial aid programs available at Southwest, please e-mail our Financial Aid Specialists at financialaid@usw.edu.
Sources of Aid
It is important to recognize and be familiar with the following types of aid:
Institutional Scholarships
Institutional awards are considered Gift Aid and do not have to be repaid. Institutional awards include all scholarships funded by University of the Southwest. USW awards institutional scholarships for academic accomplishment, athletics, and student involvement opportunities such as SIFE & Debate. Students may also apply for named scholarships which are donor funded.
For more information click here.
Federally-Funded
Grants are considered gift aid and do not have to be repaid.
Federal PELL Grant, Federal Supplemental Educational Opportunity Grant, SMART Grant, Academic Competitiveness Grant, TEACH Grant, and parent/student loans are federally sponsored programs regulated by guidelines and formulas established by the government.
For more information click here.
State-funded
The Student Choice Act provides grant funds for students who attend private institutions within the State. The New Mexico Student Incentive Grant also provides funds for needy students. These particular programs are for New Mexico residents only.
Southwest students may apply for the federally-funded College Work-Study program or the New Mexico Work-Study program. Both programs provide for on-campus employment.
For more information click here.
Loans
Loans must be repaid. Federal Direct Student Loans are available to students and Federal Direct PLUS Loans are available to parents of dependent students or grad students. If additional assistance is needed, an Alternative/Collegiate Loan is available through private lenders and eligibility is based on credit qualifications.
For more information click here.
Non-Discrimination Policy
Southwest does not discriminate on the basis of sex, marital or parental status, race, color, religion, age, or national or ethnic origin in the administration of its educational policies, admission policies, financial aid programs, or other University-administered programs.