Feb. 28, 2022

South Dakota’s new need-based scholarship will enter its first year with $5.1 million to be distributed to students statewide.

The Freedom Scholarship was launched with commitments from First Premier Bank/Premier Bankcard, Sanford Health, Avera Health and the state of South Dakota with the support of Gov. Kristi Noem and the South Dakota Legislature.

Its endowment has reached $175 million of its $200 million goal.

The first scholarships will be worked into the financial aid packages offered to students at 13 eligible colleges and universities in the state, with no additional application needed.

“This scholarship program will fill the financial gap we are witnessing in post-secondary education,” First Premier Bank CEO Dana Dykhouse said in a statement. “With the funds allocated for the upcoming school year, it will create a 25 percent increase in scholarship dollars available in our state. I cannot thank our donors, Gov. Noem and South Dakota lawmakers enough for providing the much-needed funding to our students who need it most.”

The Freedom Scholarship is part of a statewide effort to encourage students of all economic backgrounds to live and work in South Dakota after graduation.

Students who accept the scholarships must be eligible for a federal Pell Grant and will be required to work at least three years in South Dakota after graduation in any field.