SDSU commits to cost transparency

South Dakota State University has recently become one of more than 500 schools nationwide to be listed as a partner institution with the College Cost Transparency Initiative. That means SDSU has voluntarily committed to follow a set of principles and standards that ensures transparency, clarity and understanding around communicating student financial aid offers. 

To achieve this designation, institutions must include a cost estimate, categorize financial aid by grants and scholarships, loans and employment, and provide a net price after grants and scholarships. Additionally, financial information must clearly label loans in aid packages and use commonly understood terms. 

“South Dakota State University understands that navigating a college search, comparing multiple financial aid offers and working through those various financial aid steps can at times be overwhelming for students and families,” Shawn Helmbolt, assistant vice president for enrollment management at SDSU, said. “We are committed to supporting students and families through these processes, and one simple way for us to do that is to provide as much transparency as possible in our costs and through our student financial aid offers.” 

SDSU’s partnership with the College Cost Transparency Initiative comes after the South Dakota Board of Regents announced a tuition freeze for the 2024-25 academic year. 

“The Office of Financial Aid at South Dakota State University is dedicated to providing transparent and accurate information about college costs,” Beth Vollan, director of financial aid and scholarships at SDSU, said. “We are proud to be a part of the College Cost Transparency Initiative and to be recognized for meeting the high standards established by this important initiative.” 

The SDBOR office conducts an annual regional survey of tuition, fees and total costs at four-year public institutions in South Dakota and its six neighboring states: Iowa, Minnesota, Montana, Nebraska, North Dakota and Wyoming. 

The 2023-24 survey showed that South Dakota came in as the most affordable average total cost for all undergraduate students and resident graduate students, and second most affordable for nonresident graduate students. 

“Our inclusion in the College Cost Transparency Initiative is just one example of our commitment to this process and providing more straightforward information for our students,” Helmbolt said. “We are excited to be recognized for our commitment to this important initiative.” 

SDSU is the second South Dakota Board of Regents institution to fulfill the cost transparency principles and standards. 

“The CCT task force’s sole focus and mission was to encourage and assist efforts by institutions to communicate with students and families about college costs in a way that is clear, accurate and helpful,” according to its website. 

The College Cost Transparency Initiative is funded by the Strada Education Foundation and began assessing cost transparency in higher education in 2022.