Financial Aid

There are two types of student loans available: private student loans and federal student loans.

Private Student Loans

Private student loans are secured through third-party, for-profit banks and typically have higher interest rates and stricter repayment terms than federal student loans. TESU does not offer or endorse private student loans.

Federal Student Loans

Federal student loans from the government are a financial aid option that can help cover your college costs. It's important to understand that federal student loans require monthly repayment with interest once you've finished your degree. Federal student loans typically offer more flexible repayment terms and may have lower interest rates than private loans.

There are two types of federal student loan: subsidized and unsubsidized.

• Direct Subsidized Stafford Loans — interest does not accrue while you're in school with a subsidized loan. Once you graduate or withdraw from your courses, interest will begin to accrue and repayment will begin. Students qualify for need as determined by the FAFSA.
• Direct Unsubsidized Stafford Loans — available to any student regardless of need, unsubsidized loans begin accruing interest from the date the funds are disbursed. By the time you graduate, your loan will have a higher total repayment amount. You must complete the FAFSA to apply for an unsubsidized loan.

The type of loan and the maximum amount you qualify for is determined by your FAFSA. Once TESU finalizes your aid package, you can make decisions about which loan(s) to accept and how much.

Completing the FAFSA is the key to determining the amount of money you need to earn your degree. Once TESU finalizes your aid package, you can accept, adjust or decline any loans you are awarded.

Loan Repayment

Repayment on your federal student loan(s) will begin six months after you graduate, or immediately if you decide to withdraw from TESU. The repayment terms and amount are determined by your student loan servicer in collaboration with the federal government. You can find your loan servicer, learn about repayment options and keep track of all your federal aid through your Federal Student Aid account.

Unlike student loans, grants are an aid type that does not require repayment. This award type is based on your financial need, where you live and other criteria. They are generally awarded by federal and state governments.

Federal Pell Grants

Federal Pell Grants are awarded based on your financial need and are only awarded to undergraduate students. This grant award can cover your tuition costs, fees, books and other out-of-pocket expenses. If your grant award exceeds the amount due, the leftover amount can be credited to your bank account.

In order to remain eligible for this award, you will need to take a minimum of six credits each semester (half-time status).

New Jersey State Tuition Aid Grant

The New Jersey State Tuition Aid Grant (TAG) is awarded to New Jersey residents based on their financial need. The TAG award can be applied to tuition and course costs at TESU, but cannot exceed these costs.

To be eligible for the New Jersey State TAG award, you must be enrolled as a full-time student (12 or more credits per semester).

GO-TESU Grant Opportunity Program

GO-TESU is a needs-based tuition assistance program designed for adult learners earning their first associate or bachelor’s degree who have been New Jersey residents for 12 consecutive months. You must be enrolled less than full-time each semester and demonstrate financial need to qualify for this grant program.

Learn more about GO-TESU

Garden State Guarantee

The Garden State Guarantee (GSG) is New Jersey’s promise to make a college degree more accessible and affordable. By reducing out-of-pocket costs for students and families, New Jersey is limiting the amount of debt that residents must borrow to attend an in-state, public college or university. This program further builds on Governor Phil Murphy’s commitment to improving college affordability.

Learn more about the Garden State Guarantee.

Scholarships are based on merit and/or financial need. Like grants, scholarships you receive are considered part of your financial aid package and do not need to be paid back. They are awarded to help you bridge the gap between the cost of attendance and your ability to meet those costs. TESU offers a variety of scholarship opportunities and maintains a database of outside scholarships not affiliated with the University and available for you to apply.

As an active military service member, you and your family members, along with Department of Defense civilian employees are eligible for our military tuition rate and military scholarships. Explore our options and see why so many military and veteran students choose TESU to earn their degrees and advance their careers.