The school's 2022–23 enrollment was 1,903 undergraduate and graduate students, the majority of whom come from states in the Midwest, primarily Indiana, Michigan, Illinois, and Ohio.

The college moved to its current Fort Wayne location in 1944,[3] to the estate of the former industrialist John H. Bass.

Increased athletic programs for the Cougars, primarily football, as well as construction of athletic fields and residence halls and acquisition of the Lutheran College of Health Professions in the 1990s produced remarkable enrollment growth.

The university is a member of the National Association of Intercollegiate Athletics (NAIA), primarily competing in the Crossroads League (formerly known as the Mid-Central College Conference (MCCC) until after the 2011–12 school year) for most of its sports since the 1994–95 academic year (which they were a member on a previous stint from 1966–67 to 1980–81); while its football team competes in the Mideast League of the Mid-States Football Association (MSFA).

USF competes in 18 intercollegiate varsity sports: Men's sports include baseball, basketball, cross country, football, golf, soccer, tennis and track & field; while women's sports include basketball, cross country, golf, soccer, softball, tennis, track & field and volleyball; and co-ed sports include cheerleading and eSports.