In case the students at Southern Methodist University face any financial issues concerning the fees and cost of living, and find the same to be high, they can seek help from the financial aid department of the varsity. It focuses on settling the issues that students face, and candidates can be assisted with scholarships, grants, and student loans. At the university, the average federal grant comes to be around $5,376, whereas the financial aid is $33,204. The students at the university are provided with state aid and institutional aid. The state aid stands at $3,805, while the institutional aid is $33,204. The need-based scholarships awarded to students admitted to Southern Methodist University amount to $5,991,077 per annum. Meanwhile, the total non-need-based scholarships/grants awarded in a year total $66,585,983.