Your Award Guide explains your aid offers, how they were calculated and the conditions of your awards. You are required to read this because it explains your aid responsibilities and the terms of your awards.
Federal law prohibits TU from discussing your financial aid with your parents or others without your authorization. To grant authorization, please complete our Release of Information Form, which is available from Forms & Online Services.
Attention Maryland residents — If the Maryland Higher Education Commission (MHEC) offers you any MHEC aid, they will notify you directly. To view and accept MHEC aid offers, you must visit their MDCAPS web site.
You can borrow loans to cover both your TU charges and your other living and personal expenses. To calculate how much you need to borrow for this academic year (Fall & Spring), compare your total grants/scholarships to your estimated costs. To estimate your costs, review our estimated Cost of Attendance Budgets or review our current rates for tuition, room, and board.
Direct subsidized loans have the lowest interest rates and do not accrue interest while you are enrolled at least half-time. Direct unsubsidized loans have the next lowest rates, and Parent PLUS Loans have the highest interest rates.
For current federal loan rates, visit StudentLoans.gov.
Private loan interest rates vary based on lender and credit scores.
The following loan origination fees will be deducted from federal loan disbursements:
The rates above apply to loans with first disbursements between 10/1/2017 and 9/30/2018. For rates for loans disbursed after 9/30/2018, check the latest rates.
Every year, you must accept/decline your loan offers and choose your loan amounts at Towson Online Services.
If this is the first time you are borrowing a direct loan at TU do the following:
If you need to change your loan amount after you accept it, submit a TU Loan Change Form from Forms & Online Services.
If your parent wants to borrow a PLUS Loan, please follow our PLUS loan instructions. For information on maximum PLUS loan amounts, see step 4 above.
If so please review the Federal Work-Study Program information. If you think you may be interested in pursuing a FWS job, then accept the award in step 3 above and follow the job search instructions on the FWS program page.
If your Award Notification did not offer you any FWS funds, then you can’t pursue FWS jobs, but you can still pursue many other part-time jobs both on and off-campus. Visit the Career Center’s Student Employment page.
It is extremely important that you regularly check your TU student email. We only send most aid notices to your email account. You (the student) must read all aid emails and complete all aid tasks. You must notify your parents of any requests for parent data.
If you already have a non-TU email account that you check regularly, we strongly encourage you to forward all your TU email to that account. Follow these Gmail forwarding instructions.
New items may be added each week as we process your file. Please submit or request all To-Do-List items within two weeks of our first request.
If your To-Do-List requests verification documents, promptly submit the worksheet and IRS tax documentation. Please act promptly! It can take over six weeks after you request tax data to receive the required documentation from the IRS.
Late documents can lead to canceled aid offers, a $150 late payment fine and can delay financial aid refunds.
On your FAFSA, what housing status did you list for TU?
If your TU housing status changes at any time, you must notify TU and MHEC.
To notify TU, you must submit a Housing Verification Form from Forms & Online Services.
If yes, you must submit a Notice of Additional Resources Form from Forms & Online Services. Examples of aid include private scholarships, tuition waivers and Maryland Higher Education Commission aid.
The Bursar’s Office will bill you for one term at a time. Your online eBill will include tuition, fees, and other miscellaneous charges for each term. If you will live on campus, it will also include room and board charges.
If your eBill does not list enough authorized aid to pay all of your charges, then you must make other arrangements to pay your full bill balance by your bill due date.
If your total term aid exceeds your term charges, the Bursar’s Office will send you a refund. For more information about billing and payments, please visit the Bursar's Office.
When we disburse your aid, we will automatically use it to pay all of your TU charges for this term unless you choose to restrict which charges we can pay with your aid funds by submitting the optional TU Use of Funds form. See Forms & Online Services.