Towson University (TU) Financial Aid, FAFSA/Federal School Code, Scholarships and Deadlines 2022

Towson University (TU) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

50%

Total Aid Amount Average Total Aid Awarded per year.

$87.930M

Financial Aid Official Website

https://www.towson.edu/admissions/financialaid/

Towson University (TU), Towson, Maryland, provides financial assistance on the basis of the family’s ability to contribute. Last year, the university awarded over $87,929,898 in financial aid through scholarships, grants, loans, and work-study assistance.

About 50% of students receive grants per year. These monetary benefits enable students to pay for their education without even having to repay back if it is in the form of scholarships and grants. Also, remember that you have a work-study program where a student will be involved in part-time work to pay for his tuition.

Planning on how to pay for college can be challenging. We’re here to help guide you through the financial aid process and provide assistance with your student account. Don’t stress about student finances, you’ll have enough to do, like hanging out with friends and studying for your classes.

Scholarships

University provides scholarships on the basis of student’s academic achievements, proven leadership, and participation in extracurricular activities- both in their schools and their communities. TU’s merit-based scholarships are offered through the following programs:

TU Admission Scholarship is for the newly admitted undergraduate students.
TU Honors College Scholarship is awarded to incoming freshman and transfer students joining Towson University and Honors in the fall semesters.
Maryland Higher Education Commission is awarded to the residential students of Maryland.
Towson Merit Scholarship is awarded to the Undergraduate and Graduate students based on the strength of their academic record.
President’s Scholarship is offered to the fresher students of the university per semester.
Dean’s Graduate Scholarship awarded to graduate students who have achieved academic achievements.
Faculty Scholarship, awarded to those who scored excellent high school grades.
Military and Family Scholarship awarded to those whose parents are actively or currently serving in the U.S. military.

International Scholarships

International scholarships are for international applicants, students get eligible for this scholarship automatically if they fill the Merit-Based Scholarship forms in the first year of their academic session.

Grants

Grants are gift assistance which is awarded on the basis of financial aid. Various grants awarded to the students at the university are as follows:

Federal Grants

Federal Pell Grant, awarded only to those students who have not earned a bachelor’s degree.
Federal Supplemental Educational Opportunity Grant(FSEOG), this grant is awarded to those students who have less financial need.

Loans

University provides loans to the students so that they can afford to pay for their education, this facility provided by the University really helpful for those applicants who are in need of financial support. The average federal loan amount is offered to the students of the University every year. Some of the educational loans offered by the TU are mentioned below:

Federal Perkins Loan.

Federal Perkin loans have varying loan limits and it depends on the year in school. Limits for undergraduate students to get this loan is up to $5,500 per year and for graduate and professional students.

Direct Subsidized and Unsubsidized Loan

These loans have varying loan limits depending on the year in school, dependency status, and the amount awarded by the institution.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

29%

State Grant Aid

25%

Institution Grant Aid

46%

Pell Grant

29%

Average Aid Awarded

Federal Grant Aid

$4,752

State Grant Aid

$4,662

Institution Grant Aid

$4,894

Pell Grant

$4,734

A federal grant is also an option for you if you meet the eligibility criteria, 29% of candidates cover up their expenses and the average of it is $4,752. The Pell grants average amount is $4,734 and serves 26% candidates.

In addition to these, the state grants also cover up the expenses of 25% of pupils and the average of it is $4,662. You might depend upon the institutional scholarships and grants as almost 46% of all students get hold of them and the average of them is $4,894.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$15,343

$30,001 - $48,000

$12,187

$48,001 - $75,000

$6,642

$75,001 - $110,000

$1,889

Over $110,000

$1,039

A student having an annual family income of less than $30,000 might face an aid amount of $15,343 as the net aid price. You will find this amount to be lowered up to $12,187 in case of an income between the range of $30,001-$48,000.

The aid price decreases gradually as we talk about higher income brackets. For example, a family income ranging from $48,001-$75,000 might make your net price look $6,642 and for a range of $75,001-$110,000, your net aid price will amount to $1,889.

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