2023-2024 Presidential Scholarship Information and Guidelines
Value
| Typical Scholarship Value (15 semester hours per term) | Academic Year | One Semester |
|---|---|---|
| Estimated tuition | $8,627.10 | $4,313.55 |
| One time fees (Matriculation, Assessment, Enrollment)* | $475 | $475 |
| Estimated Lab Fees | $150 | $75 |
| USI campus housing allowance | $5,078 | $2,539 |
| Housing pre-payment allowance (Paid fall only) | $200 | $200 |
| Food allowance | $4,982 | $2,491 |
| Books/Supplies allowance | $1,200 | $600 |
| TOTAL | $20,712.10 | $10,693.55 |
Notes
If all scholarship criteria are met, the Presidential Scholarship guarantees coverage of the instructional costs specified above and includes allowances for food and books. State, private, and other USI institutional gift aid is applied first in meeting these costs and allowances. Students may receive no more gift aid than the maximum covered by this scholarship. Students may receive the Federal Pell grant, student loans and wages from student employment in excess of the maximum Presidential Scholarship award. These awards will be limited by the federal student aid guidelines.
Refundable deposits such as lab breakage fees and housing [damage] deposits are not covered by this scholarship.
If the student enrolls and contracts with USI Residence Life for housing, it is covered at the lowest cost four-person unit rate. Private and semi-private campus housing is not fully covered at this rate. Off-campus housing is not covered. The $200 Housing Pre-payment allowance will be reimbursed to the student once the semester housing allowance is applied provided there are no miscellaneous fees to be covered.
Fees not covered include but not limited to CLEP tests, inoculations, insurance, membership dues and courses not required by the student’s degree program. Extraordinary costs (add-on tuition/fees, travel expense, and side trips) associated with study abroad are not covered by this scholarship. Please contact the Office of Student Financial Assistance for further questions regarding study abroad.
Sample Semester Bill (based on estimated 2023-2024 fees)
| Items | Charges | Credits | Items Covered |
|---|---|---|---|
| Tuition ($287.57/sem. hr. estimated) | $4,313.55 | $4,313.55 | |
| Enrollment fee (one-time fee)* | $150 | $150 | |
| Matriculation fee (orientation)* | $175 | $175 | |
| Assessment fee* | $150 | $150 | |
| University service fee | $30 | $30 | |
| Athletics fee | $120 | $120 | |
| Transportation/parking fee | $145 | $145 | |
| Student activities fee | $100 | $100 | |
| Lab fee | $75 | $75 | |
| Housing Living Learning Comm fee | $25 | $25 | |
| Counseling fee | $55 | $55 | |
| Deaconess Office Visit Plan fee | $70 | $70 | |
| Housing Activities Fee | $25 | $25 | |
| Housing (4-person on-campus) | $2,539 | $2,539 | |
| Housing Pre-Payment fee - paid fall only | $200 | $200 | |
| Food Plan (optional) | $2,491 | $2,491 | |
| Books/Supplies Allowance | $600 | $600 | |
| Hometown Kiwanis Scholarship | $250 | ||
| Rice Merit Scholarship | $2,000 | ||
| Presidential Scholarship | $8,413.55 | ||
| TOTAL | $10,663.55 | $11,263.55 | $11,263.55 |
Applying for Financial Aid and Scholarships
All Presidential Scholars are expected to apply for and accept all gift aid for which they are eligible. This includes state, and USI financial aid as well as scholarships from community and private organizations. By doing this, the scholar is supporting the efforts of the University to expand the number of Presidential Scholarships available to new freshmen.
Also, it is worth noting that many freshman scholarships awarded by non-University sources are for one-year only. The aid that USI offers is renewable for a total of 8 consecutive semesters from the date of initial enrollment, or the point at which a student earns his/her first undergraduate degree, whichever comes first.
Annual Financial Aid Requirements
- Complete the FAFSA (Free Application for Federal Student Aid) each year between Oct. 1 and April 15. The FAFSA may be waived after the first year if you do not qualify for Pell Grant or need-based aid and do not want a Direct Loan or Parent PLUS Loan by presenting a copy of the front page of your parent’s federal tax return to the Student Financial Assistance Office.
- Report any private or non-University scholarships by logging into your myUSI at my.usi.edu. Once logged in, select in order the following menu items: Financial Aid Tab, Award, Award for Aid Year, Resources/Additional Information Tab.
- Contact the Program Coordinator in Student Financial Assistance if you plan to enroll in the summer.
Retention and Progression
A minimum of 27 semester hours must be successfully completed each academic year. Scholars must maintain full-time continuous enrollment (minimum of 12 semester hours) in each regular semester (fall/spring). Students may receive the Presidential Scholarship for a maximum of 8 consecutive semesters from the date of initial enrollment, or the point at which a student earns his/her first undergraduate degree, whichever comes first. Under exceptional circumstances, a student may initially petition the Program Coordinator for a "leave of absence" for one semester and at the coordinator’s discretion it may be forwarded to the Presidential Scholarship Committee for further review.
Recipients must maintain a cumulative USI grade point average of 3.2/4.0 for 0-59 semester hours attempted; thereafter, the student must maintain a 3.4 cumulative GPA.
Summer coursework totaling 12 or more semester hours is taken during the 15-week session may receive full scholarship benefits which would count as 1 semester used of the scholarship. Students who enroll in less than 12 semester hours during the summer receive only tuition, instructional fees, and a book allowance of $100 per class.
Internships and Co-op Positions/Study Abroad
Since students placed in co-op positions and internships are generally enrolled in only one or two classes while working, the Presidential Scholarship does not pay for living expenses during these periods. It does pay for tuition and lab fees. If books are required, the scholarship will also pay $100 per class.
Students during a study abroad semester arranged through the USI International Programs and Services office are eligible to receive the housing and meal plan allowance as described in the scholarship policy.
IRS Publication 970
Please take time to review your potential tax liabilities and tax credits by reading IRS Publication 970. This is available from the IRS Web site at www.irs.gov.
Note
All participating students must maintain good standing at USI. Students who are dismissed from the University for any reason, forfeit all entitlement to this scholarship.
Awards are subject to approval based on availability of funding. No cash refunds are made to students from this scholarship.
Students may check their MyUSI account for the most current financial aid information. USI reserves the right to make necessary adjustments. Renewal of this scholarship depends upon future funding. The University reserves the right to change scholarships, policies, and award amounts. The right to correct errors is also reserved.
Questions about the 2023-2024 Presidential Scholarship guidelines?
Contact the Student Financial Assistance office at 812-464-1767 or 800-467-1965; or email finaid@usi.edu. Business hours are Monday - Friday, 8 a.m. - 4:30 p.m. (central time).