Notification Guide

All aid recipents are required to read The Financial Aid Notification Guide every year because aid policies and regulations change each year, and the guide explains students' responsibilities and the term and conditions of each award.

Avoid potentional aid problems by keeping yourself informed of this critical information.

• 2013-2014 Financial Aid Notification Guide (PDF)

• 2012-2013 Financial Aid Notification Guide (PDF)

• To view these documents, Download Adobe Acrobat Reader

SHOPPING SHEET (Cost Comparison Tool)

The "Shopping Sheet" is a new college cost comparison tool developed by the federal government.

It is intended to help you compare aid offers from different schools based on your “Estimated Net Cost” after grants/scholarships. It also presents your financial aid data and estimated costs in a standardized format.

• It is optional for both students and schools. TU offers an online version.
  
  
• If you choose to use it, please carefully follow these instructions.

Common Misunderstandings - Shopping Sheet Cost Data

1. The Shopping Sheet is not a bill.
   
   
2. All TU cost data is estimated.
   
   
   • TU’s 2013-14 tuition, fees, room and board rates will not be set until June 2013, and will remain subject to change by the Board of Regents at any time.
     
     
   • TU offers several housing and dining plan options with different prices.
     
     
   • TU "On-Campus Housing and Meals" estimates are based on a Multiple Occupancy in Standard University Housing, and our most popular meal plan (14 meals/week plus meal points). For more details on the current 2012-13 rates, visit the Bursar's Office.
     
     
3. The Shopping Sheet “Net Cost” is not an estimate of your total school charges after aid.
   
   At every school, your Shopping Sheet “Net Cost” will always be much higher than your estimated school charges because it is based an estimate of your total educational costs that includes estimated Direct Costs from your school and allowances for Indirect Costs that are usually not paid to your school, such as Transportation expenses, Other (Personal) Educational costs, and “Off-Campus Housing and meals.
   
   ( TU's Transportation Allowance does includes a $303 estimate for our parking permit.)
   
   
4. Because the Allowances for these Indirect Costs can vary widely between schools, they can distort valid comparisons of each school’s Direct Costs.
   
   Many financial aid professionals believe that families can more accurately compare the relative costs of their potential schools by comparing their estimated Net Direct Costs instead of the (Total) Net Cost (Direct and Indirect) that is listed on the federal Shopping Sheet.
   
   
5. If you want to calculate your estimated Net Direct Costs, follow these formulas.
   
   

   	Estimated Costs	TU In-State	TU Out-of-State
   	Tuition & Fees	$  8,324	$20,002
   +	On Campus Housing & Meals	$10,662	$10,662
   =	Total Direct Costs	$18,986	$30,664

   
   

   	Total Direct Costs	$18,986	$30,664
   -	Total Grants & Scholarships*	-	-
   =	Net Direct Costs	=	=

This chart is not interactive.

Common Misunderstandings - Shopping SheetAid Data

1. Every federal Shopping Sheet combines all grant and scholarships into the following 4 categories:
   
   
   • Grants/Scholarships from your school
   • Federal Pell Grant
   • Grants/Scholarships from your State
   • Other grants/scholarships you can use
     
     
   Your TU Aid Notification list the specific names of each grant and scholarship that we are offering you and the TU Financial Aid Notification Guide explains the terms of each aid program.
   
   (If you have an FSEOG grant, the Shopping Sheet treats it as a “Grant from your school.”)
   
   
2. If you are a Maryland resident with high financial need, your TU aid notification may list an “Estimated EA Grant.” This “Estimated EA Grant” is not a formal offer of aid from TU. It is an estimate of an "Educational Assistance Grant that we expect (but cannot guarantee) that you will receive from the Maryland Higher Education (MHEC). If our estimate is correct, you should receive a formal offer MHEC before May 1.
   
   
3. "Maximum Loan Amounts" versus "Recommended Loan Amounts:"
   The federal Shopping Sheet uses the inaccurate heading "Recommended Loan Amounts," but consistent with federal aid policy, most schools do not "recommend" loan amounts. TU Aid Notifications and Shopping Sheets list the maximum loan amounts that each student is eligible to borrow. Students and families must make their own decisions about how much they wish to borrow.
   

Accessing TU’s Shopping Sheet

1. Log in at: http://inside.towson.edu/psLogin
2. Choose “Self Service,” and “Student Center.”
3. Choose, “View Financial Aid”
4. Choose “2014”
5. Choose “Shopping Sheet” under “Awards”
   
   (Please ignore the “Download” button.)
   

Financial Aid Office
Enrollment Services, Room 339
Hours: Monday - Thursday, 8 a.m. - 5 p.m.; Friday, 8 a.m. - 4:30 p.m. (Reception Desk)
            Monday - Thursday, 8:30 a.m. - 5 p.m.; Friday, 8:30 a.m. - 4:30 p.m. (Financial Aid Call Center)

Phone: 410-704-4236
Fax: 410-704-2584
E-mail: finaid@towson.edu