College is expensive. To help pay for it, many families take advantage of financial aid. With the assistance of financial aid, parents and students contribute to educational costs to the extent they are able while the aid makes up the difference.
Towson University’s Financial Aid Office is responsible for assisting students and parents with financial aid matters throughout the college experience. Don’t hesitate to contact us with any questions about the aid process.
Types of Aid
Understanding financial aid is a crucial part of the college admission process. It’s especially important to know the types of financial aid that are available. All financial aid falls into three general categories: need-based grants, scholarships, and self-help, including loans and work-study.
- Students with the greatest financial need who apply early may receive a grant to pay for part of their education.
- Students may also receive a scholarship based on academic achievement.
- Maryland residents who apply early may also be eligible for state grants or scholarships.
- Long-term, low-interest loans are available for students and parents. Work-study programs allow undergraduate students to work part-time on campus to offset college expenses.
No matter which type of aid you pursue, it is extremely important to meet all application deadlines. Students may lose some or all of their financial aid for an entire academic year if these important deadlines are not met.
Determining Your Eligibility and Need
To determine what your family is able to contribute to the total college cost, you must complete the Free Application for Federal Student Aid (FAFSA). This standard application form guarantees that every family is treated equally and fairly when schools are considering financial aid eligibility.
The FAFSA will calculate your Expected Family Contribution (EFC), which reflects what you and your family can contribute to your education for one year. The Financial Aid Office calculates your financial need or eligibility by subtracting your EFC from the estimated costs for one year of education.
FAFSA Priority Deadline
To be considered for many TU and Maryland state aid programs, we must receive your fully processed FAFSA data from the processor by March 1. To meet this deadline, please follow the instructions below.
- Apply online every year at www.fafsa.ed.gov. TU's FAFSA code is 002099.
- Submit FAFSA after Jan. 1 and no later than Feb. 15.
- Several days after you submit it, return to the FAFSA website to confirm that your FAFSA was processed, and review all comments and the accuracy of your data. Your “Expected Family Contribution (EFC)” must not be blank.