Types of Aid

At Truman, you can get a quality education and the full college experience all for an affordable price. We have one of the most generous scholarship programs of any college or university, and “Fiske Guide to Colleges” named Truman on its best buy list which recognizes schools for quality academic offerings and affordable costs.

In fact, approximately half our seniors graduate without any federal student loan debt because of the many ways we help you fund your education.


Scholarships
Scholarships do not have to be repaid and are awarded to students based on academic performance and/or achievements and talents. Many scholarships are awarded through Truman, and students can also explore scholarships awarded through outside agencies.

Grants
These need-based awards do not have to be repaid. Grant awards can include the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (SEOG), Access Missouri Grant, and Truman Access Grant. Eligibility is determined from the results of the FAFSA. These programs are available for undergraduate students only.

Work-Study/Student Employment
The Federal Work-Study program allows eligible students to earn money working on campus. Participants receive a monthly paycheck that can be used toward educational expenses. On-campus jobs are posted on TruPositions, Truman’s centralized student employment website.

Federal Direct Subsidized & Unsubsidized Loans

Subsidized: Eligibility for subsidized loans is need-based. The federal government pays the interest that accrues while you are in school.  Repayment begins six months after you leave school or drop below half-time. Subsidized loans are only available for undergraduate students seeking their first bachelor’s degree.

Unsubsidized: Eligibility for unsubsidized loans is not need-based. You are responsible for paying the interest that accrues. Interest may be paid while you are in school or can be capitalized. Repayment begins six months after you leave school or drop below half-time.

PLUS Loans
For PLUS loans, the lender is the U.S. Department of Education rather than a bank or other financial institution. PLUS loans allow parents of undergraduate students to borrow up to the full cost of their student’s tuition and educational expenses, less any aid the student may have received. PLUS loans are not based on need. There is a quick credit check for the parent. If the parent is found to have derogatory credit, the student will gain eligibility for up to an additional $4,000 in Federal Direct Unsubsidized Loans.

Private Loans
These are credit-based loans offered to students or parents by banks/private lenders. Terms are typically less favorable than federal student loan options, and the student will usually need a co-signer.