Financial aid comes in four basic types:
- Scholarships
- Grants
- Loans
- Work-study
The only way to qualify for these types of financial aid (with the exception of some scholarships) is to fill out the FAFSA, the Free Application for Federal Student Aid. You’ll read more about that in your next step.
Scholarships
Scholarships are awarded based on all kinds of things —whether you’re majoring in astronomy, involved in high school extracurriculars or get good grades. Scholarships based on your academic performance are called merit scholarships. If you qualify, you receive them automatically when you apply to UToledo. You don’t have to repay scholarships.
Loans
A loan is money you borrow and pay back with interest. Generally, federal government loans have lower interest and offer more flexibility than loans from banks or other sources. Always — and we can’t stress this enough — do your homework. Know the terms and conditions and who is making the loan.
Grants
Grants are usually need-based. No repayment required. They can come from the federal or state government, UToledo or a private organization.
Work-study
You may qualify for a federal work-study job based on your financial need. Many of our campus employers hire work-study students.
Other Ways To Lower Your Costs
On- or off-campus jobs. There are plenty of jobs available for students. Employers will often work around your school schedule. Are you worried that a job will interfere with studying? Many students tells us that having a job actually helps them academically because they manage their time better.
A job as an RA. This leadership opportunity offers room and board as compensation. RAs – resident assistants – are upperclassmen who live in the residence halls as a resource for residents. They offer advice, plan social events and have a host of other responsibilities. Apply here!
Don’t buy new books. Rent or buy used books from online sources like chegg or Barnes and Noble. When you’re done, send them back or sell them. You may also be able to find online versions of your textbooks to download. It’s a great way to save a boatload of cash.
Don’t bring your car. We know. Cars equal freedom. But they’re also cash guzzlers, between gas, parking permits and the inevitable parking tickets on campus. Our campus is walkable. We have free bus rides on campus and around town, too.
Summer Financial Aid
It’s not too early to think about summer school. If you’re thinking about taking summer classes, know that most financial aid can be used for summer semesters. But you’ll need to fill out a summer aid application.
Learn more about summer aid requirements and eligibility
What If My Financial Circumstances Change?
Sometimes your financial circumstances change mid-year. You may lose a job or have an unexpected emergency. Or we could be in the middle of a pandemic!
Don’t be afraid to ask for help.
- File a Special Circumstances Application to appeal your aid if you or your family’s financial circumstances change after you file your FAFSA. The Financial Aid office will review your financial aid in light of the new information.
- Apply for emergency funds. All you need to do is fill out a Rocket Aid application. The UToledo team will work
with you to identify options to assist you. This includes funding available through
federal relief programs and donors.
- Rocket Aid is an emergency financial assistance fund available to those experiencing financial hardship.
Are You a Member of The Military?
You may be eligible for the Military Tuition Assistance program. It’s available for active duty, reserve and National Guard members. UToledo also offers military scholarships. Search our scholarship database.