Tuition & Funding
A College Education is an Investment in Your Future…
You commit your time, potential, and resources with the belief that the outcome is worth the cost. Taylor is committed to being a shareholder with you in this investment. Knowledgeable faculty, challenging programs, and a caring community are some of the ways we invest in your future. We are also committed to extending our financial resources to make your Taylor education a reality.
Financial need is defined as the difference between a family’s resources and the total cost of attending college. A family’s resources, or Expected Family Contribution (EFC) is determined by the Free Application for Federal Student Aid (FAFSA), which must be filed each year by April 15. When evaluating a family’s resources, there are several factors taken into consideration:
- parental income and assets
- student income and assets
- family size
- number of family members in college
The total cost of attending a college includes tuition, fees, room, board, and allowances for books, supplies, and personal/travel expenses.
How Much Does Taylor University Cost?
- Download the Cost, Tuition, and Fees Schedule for the 2019-2020 school year.
- Download the 2019-2020 Payment Planner.
Students enrolled full-time in either fall or spring will continue to have access to the free-tuition benefit offered during January, worth approximately $3,800 (up to a $15,000 value over four years). The J-term program allows students to accelerate their degrees (the average Taylor University graduate finishes their degree in 3.8 years) or participate in unique global experiences.
Tuition Payment Plans
Many families prefer to pay their college expenses in smaller, more manageable installments. Taylor University offers payment plan options for enrollment at the student account billing site. Please contact firstname.lastname@example.org for details and additional information.
In order to reduce your monthly payments, you can combine a payment plan with a Direct Parent PLUS loan. To learn more about the Direct PLUS loan, go to studentloans.gov.
* Full-time tuition is charged to students who register for 12-17 credit hours a semester. Registering for greater than 17 hours, lab fees, private music lessons, and selected courses will incur an additional charge.
** Students should anticipate an additional $3,500 for books and miscellaneous expenses.
Financial Aid Details
Last year our Financial Aid Office administered more than $47 million in financial aid (of which more than $29 million were Taylor resources). We hope that the resources available here will help you determine what aid is available and how we can assist you in achieving a college education at Taylor.
Learn more about work study opportunities, grants, loans, and scholarships by clicking the following links.
There are two additional types of aid provided to Taylor students: merit-based and need-based.
Students must file the FAFSA to qualify for any Taylor or Federal grants, loans, or work study. All need-based amounts are subject to change based on federal regulations.
Of the students applying to Taylor who filed the FAFSA for 2018-2019, the average family income was recorded as follows:
- 27% less than $65,000
- 38% between $65,000 and $125,000
- 35% over $125,000
Merit-based aid is provided through university scholarship awards based on a test score and GPA point system. Students interested in academic awards must have the required ACT or SAT score and GPA to receive the amount listed. SAT score is calculated by combining the Math and Reading portions of the test. These merit-based awards are renewable with a 3.0 college GPA and available to all incoming freshmen.
Use the Net Price Calculator to calculate the contributing source percentages of your personal tuition payment.Learn More About Scholarship Awards.
How to Apply for Financial Aid
To receive need-based aid, you must file the Free Application for Federal Student Aid (FAFSA).
Need-based aid programs include Taylor Fund Grants, Taylor Endowed/Annual Scholarships, Federal Pell and SEOG grants, Federal Direct Loans, and Federal Work Study. All need-based amounts are subject to change based on federal regulations. The scholarship priority filing deadline for the FAFSA is February 15 each year. The filing deadline for need-based grants from Taylor or the state of Indiana is April 15.
- Apply and be Accepted to Taylor
Financial aid packages will not be awarded until admission acceptance is finalized, but a student may begin the financial aid process before that time.
- Get Your FSA ID
The FSA ID is used to confirm your identity on the FAFSA and related documents. Students and parents must make their own FSA IDs. Create yours.
- File Your FAFSA
File the FAFSA as soon as possible after October 1. Go to fafsa.ed.gov, log in with your FSA ID, and use the “IRS Data Retrieval Tool” to simplify the process. Be sure to indicate that you want a copy of your FAFSA sent to Taylor University (CODE: 001838). The priority filing deadline for endowed scholarships from Taylor is February 15 each year. The filing deadline for need-based grants from Taylor or the state of Indiana is April 15.
Note: Some families may be selected for the verification process.
- Check Your Status
After November 1, begin checking your financial aid status under the “Your Documents” tab in MYFA (My Financial Aid Online site).
- Apply for Student Loans
Apply for loans between April 1 and July 1 through MYFA.
- Notify Taylor
Notify the Financial Aid Office of any outside or private scholarships, grants, or loans you receive.
Financial aid packages are processed on a rolling basis beginning on November 1. Students should receive their package within four weeks of submitting all required documents.
Frequently Asked Questions
Listen to Taylor alumnus and former Financial Aid Counselor Matthew Klingstedt ’15 answer common questions about the financial aid process.
Looking for More Information?
If you’re looking for more details on how to get started or continue your financial aid processes, check out the following links: