Understanding Touro College Tuition Costs and Financial Aid Options

Planning for college expenses is a crucial step in the application process. Touro College, with its diverse range of programs and locations, presents various tuition costs and financial aid opportunities. This article aims to provide a comprehensive overview of Touro College's tuition, fees, and available financial aid options to help prospective and current students manage college costs effectively.

Decoding the Cost of Attendance

The "Cost of Attendance" (COA) represents the total amount of money the average student pays, without any financial aid, to attend a particular school. It is essentially the school's sticker price. The COA includes not only tuition and fees but also estimates for other expenses such as room and board, books and supplies, transportation, and personal expenses.

It’s important to note that tuition and fees are subject to change annually, and the information provided serves illustrative purposes only and may not reflect the actual costs a student may incur.

Components of the Cost of Attendance

Tuition and Fees: This is the direct cost of enrollment and instruction. Fees may cover various services such as library access, gym facilities, student centers, technology resources, and campus health centers. Tuition at Touro University is $23,100, which is cheaper than the national average cost of tuition of $46,950.
Room and Board: This covers the cost of housing and meals, whether on-campus or off-campus.
Books and Supplies: This includes the cost of textbooks, software, and other necessary materials for coursework. The approximate cost for books and equipment is $3,500.
Transportation: This accounts for travel expenses to and from campus, as well as local transportation.
Personal Expenses: This covers miscellaneous costs such as clothing, entertainment, and other personal needs.
Health Insurance: All on-campus students must have health insurance when enrolled in this program.
Medical Equipment: In some cases, students may be responsible for covering the cost of background checks performed by clinical affiliation sites.

Indirect costs reflect average surveyed costs for housing, food, transportation, personal, and miscellaneous expenses.

Navigating Tuition and Fees

Tuition costs vary across Touro College's different schools and programs. For instance, tuition and fees for the first academic year in the Pathologists' Assistant program is $29,300. Touro University California's tuition varies from college to college.

Read also: Touro College of Pharmacy Overview

The Touro University Board of Trustees reserves the right to change the fee schedule without prior written notice.

Payment Information and Policies

The Office of the Bursar maintains student tuition accounts and the College’s receivables, reviewing charges and payments, issuing refunds, and managing collection activities. They also provide support and guidance to create a seamless experience for students. Students will not be sent a bill. Financial aid can impact tuition refunds.

A $100 late fee will be incurred each month, starting after the add/drop period, if your balance is not paid in full or you do not enroll in a payment plan.

Payment Options

Touro College offers various payment options, including online payments via credit or debit card. However, payments made online by credit or debit card will be charged a 2.95% non-refundable convenience fee by our third-party provider, TouchNet® Pay Path. Students can avoid this fee by choosing to pay with an electronic check (E-check). To pay by E-check, log into your online student account, select electronic check for your method of payment and provide your checking account bank routing number and account number.

Understanding Financial Aid

Financial aid helps students cover the cost of college through grants, scholarships, loans, and work-study programs. Grants and scholarships are preferable to loans because students don’t ever have to pay them back.

Read also: TCDM Tuition & Fees

Types of Financial Aid

Grants: These are typically need-based and do not need to be repaid.
Scholarships: These can be need-based or merit-based and do not need to be repaid. Merit-based scholarships are awarded for a specific talent or academic achievement.
Loans: These must be repaid with interest. Federal loans tend to have low interest rates, which means they cost less in the long run.
Work-Study: This program allows students to earn money through part-time jobs, often on campus.

Need-Based Aid at Touro University

The average need-based scholarship or grant awarded to first-year students at Touro University was $8,938. Additionally, 46% of first-year students received need-based financial aid in fall 2023. The average need-based self-help aid awarded to first-year students was $3,432.

Merit-Based Aid at Touro University

The average non-need-based scholarship or grant awarded to first-year students at Touro University - excluding any athletic scholarships, if applicable - was $8,901.

G.I. Bill and Yellow Ribbon Program

Touro University is G.I. Bill certified and participates in the Yellow Ribbon Program, offering additional financial support to eligible veterans and their dependents.

The Net Price and Expected Family Contribution (EFC)

The Net Price is the total cost of attending a college minus the total aid given, representing the amount a student must pay out of pocket. The US government has come up with a standardized way to calculate how much a typical family can afford to pay without help, known as the Expected Family Contribution (EFC). Colleges use this number as a guideline to decide how much aid to give you, but it's just a guideline.

Calculating Your Net Price and EFC

Most schools have an updated Net Price calculator available. This tool will calculate your Expected Family Contribution, or EFC. In order to calculate this amount, we need just 4 pieces of information from you. According to the information you’ve entered above, your Expected Family Contribution should be about $. This is the amount that the federal government thinks you can afford to pay for school. Please note this tool is only an approximation, and your personal situation may cause your EFC to vary.

If the Net Price is higher than the EFC, the school will cost more than you can typically afford.

Managing Student Loan Debt

Student loan debt can significantly affect your financial life long after college ends. Ideally, your total student loan debt should fall below your anticipated starting salary once you graduate.

At Touro University, the median federal loan debt among borrowers who completed their undergraduate degree is $15,547. The median monthly federal loan payment (if it were repaid over 10 years at 5.05% interest) for student federal loan borrowers who graduated is $165. Additionally, 3% of graduating students at Touro University took out private loans. Students with private loans had an average of $17,427 in private loan debt at graduation.

The average private loan amount at Touro University is $6733. At Touro University, the average annual federal loan amount is $6047.

Touro University Worldwide (TUW)

Touro University Worldwide (TUW) offers special reduced tuition for military, alumni, and partnering institutions. All materials for TUW are fully online, so there is no textbook requirement for any of our programs. TUW has also waived the $60 application fee for all prospective students applying to the Bachelor and Master Degrees (excluding the Masters in the Marriage and Family Therapy [MFT] program, which has a $25 application fee).

Prospective students may be eligible for tuition assistance through federal or institutional programs. Complete the Free Application for Federal Student Aid (FAFSA) to see if you are eligible for financial assistance. You can request a financial aid package from TUW’s financial aid office to get a better look at your financial outlook.

Additional Resources and Considerations

Financial Aid Office: Contact the financial aid office at your specific Touro College campus for personalized guidance and support.
FAFSA: Complete the Free Application for Federal Student Aid (FAFSA) to determine your eligibility for federal financial aid.
Scholarship Search: Explore external scholarship opportunities to supplement your financial aid package.
Cost of Attendance: Along with tuition, students should estimate the overall cost of completing an academic year - or the Cost of Attendance (COA) - in your program. The COA - or student budget - not only lets you see the big picture costs of your degree, but also serves to determine your financial needs and the amount of aid (federal loans and scholarships) for which you may qualify. Your COA, and subsequent financial aid eligibility, is determined and calculated based on the academic year (semesters you are enrolled in classes).

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