Campus-Based Financial Aid
Towson University receives a limited amount of money each year for the campus-based aid programs. The Financial Aid Office targets all campus-based funds toward eligible students with the highest levels of financial need who completed the FAFSA application process by TU’s Priority Deadline (February 15). Once all available funds are exhausted on the students with the highest financial need, students with lower levels of need will not receive these awards.
Federal Supplemental Educational Opportunity Grant (SEOG)
Towson University receives a limited amount of SEOG funds and may offer these grants to full-time first-time bachelor’s degree candidates with exceptionally high financial need. (Awards typically go to students with EFCs of $0.)
Towson University may offer the Institutional Grant to full-time first-time bachelor’s degree candidates with high financial need.
Federal Perkins Loan
Towson University may offer Perkins Loans to students with exceptional financial need. The maximum annual offer is $5,000 per year and the maximum aggregate undergraduate borrowing limit is $27,000.
This federal loan has an annual interest of 5 percent. Interest does not begin to accrue, and no payment of principal is due, until nine months after the borrower leaves school or drops below enrollment for at least 6 units. Payments depend on the total amount borrowed, but will never be less than $40 per month, plus interest.
Federal Work Study
This need-based federal aid program allows eligible students to work and earn money for educational expenses. Because the earned funds are paid to students though bi-weekly paychecks, these funds cannot be applied toward tuition and fees or other charges that are due at the beginning of the term.
Federal Work Study jobs are available on-campus in academic and administrative departments as well as at local elementary or middle schools in approved community service programs designed to help children develop reading and math skills.