University •

June 20, 2022

ASU Financial Aid: A Complete Guide

Considering going to Arizona State University? Read this guide on ASU financial aid from Mos.

Illustration of ASU logo

If you’re looking for an innovative school with loads of different academic, athletic, and social opportunities to choose from, you should definitely check out Arizona State University (ASU).

With more than 77,000 students on its 4 campuses and over 57,000 online students, ASU is a sprawling, modern institution that offers more than 350 undergraduate degree options and over 400 graduate degree pathways.

Translation: if there’s something you’re into, chances are you can major in it at Arizona State.

But the school isn’t all about books and pencils. ASU also has more than 1,100 student clubs and organizations, and the Sun Devils compete in 26 varsity-level sports at the NCAA Division 1 level.

Fortunately for those in need of financial aid, the school is equally impressive when it comes to funding options.

If you're interested in applying to ASU but are wondering how you're going to pay for it, we've got you covered.

Let's break it all down.

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A snapshot look at ASU

Before we dive into ASU financial aid, let’s slow things down and take a quick look at why it’s such a desirable college in the first place.

Arizona State University has been around for a long time. It’s a public institution that was founded in 1885 (before Arizona was even a US state). Fast-forward to today, and ASU is now one of the largest public universities in America.

ASU is home to more than 135,000 students when you combine its on-campus cohort with online learners—and it has 17 colleges and 170 cross-discipline institutes and centers for undergraduate and graduate students.

ASU is a place where there’s something for everyone. But it also has a serious reputation for excellence. Its staff and alumni include:

  • 5 Nobel laureates.

  • 9 Pulitzer Prize winners.

  • 6 MacArthur Fellows.

  • 9 members of the National Academy of Engineering.

  • 23 members of the National Academy of Sciences.

  • 26 members of the American Academy of Arts and Sciences.

  • 40 Guggenheim fellows.

  • 149 fellows of the National Endowment for the Humanities.

  • 270 Fulbright Program American Scholars.

And if sports are your thing, ASU has that, too.

Competing as the Arizona State Sun Devils, ASU competes in 26 varsity-level sports in the NCAA Division I Pac-12 Conference. It also has over 1000 student clubs and teams you can get involved in—meaning you don’t have to be a future NBA star to join in.

ASU sports

With the wide range of academic choices, great reputation for sports and student life, and solid reputation, ASU poses some amazing opportunities for students from all over the world.

Ranking: 117

Size: 77,831

Demographics: 50% male, 50% female

Tuition: $10,710 per year (in-state), $28,800 (out-of-state)

Acceptance rate: 88%

Average GPA of accepted student: 3.54

Key dates and deadlines (2022)

  • Application: November 1st (Priority) or February 1st

  • Financial aid deadlines: January 15th

A look at scholarships offered by ASU

If you want to go to Arizona State University (ASU) but need some financial support, you’ll be relieved to know that ASU offers a huge range of scholarships.

Some of those scholarships are unique to certain majors or university departments. Others are based on your high school performance, financial need, or whether you come from a certain background or community.

Just to give you an idea of what’s available, let’s walk through a few highlight scholarships.

New American University Scholarship

ASU’s New American University Scholarship awards are for outstanding incoming freshmen. There are 4 different awards within the program: the President's Award, the Provost's Award, the Dean's Award, and the University Award.

The amount you’re eligible to receive will depend on your residency status and the award you’re offered. But generally speaking, it’s an inclusive scholarship program that a large slice of the ASU freshman population fits into.

ASU scholarships

Harrison Westerfield Scholarship

The Harrison Westerfield Scholarship is another award for incoming ASU freshmen. But this scholarship is designed exclusively for out-of-state students—and to be considered, you need to be able to demonstrate an involvement in community service.

To be eligible for the Harrison Westerfield Scholarship, you need a minimum 3.0 grade point average (GPA). The total award is $1,000.

ASU Next Generation Service Corps

The ASU Next Generation Service Corps (NGSC) is a 4-year leadership development program that trains Arizona State students from all majors to address meaningful societal challenges. 

As part of the program, ASU makes sure that all NGSC students have base tuition coverage. That means ASU offers variable awards to NGSC members based on whatever gap each student has to plug after factoring in other university-based grants or scholarships.

ASU’s Scholarship Office calculates each student’s award on a case-for-case basis over the summer.

Dougherty Foundation Scholarship

The Dougherty Foundation Scholarship is designed to support full-time in-state students pursuing undergraduate or graduate degrees.

But to qualify for a graduate Dougherty Scholarship, you must have received the scholarship at the undergraduate level, too. The scholarship award is $2,000.

This is just the tip of the iceberg. Want to learn more about ASU scholarships? Join Mos now, and we’ll walk you through each one and help you apply.

Student loans

While gift aid like grants and scholarships are always ideal because you don’t have to pay them back—a majority of students simply can’t afford to go to school without taking on a loan.

A student loan is a nominal amount that you borrow in order to help pay your college tuition. Loans give you money to pay for college now—but in exchange for that cash, you’re going to have to repay those funds with interest.

ASU student loans

Each loan has its own interest rates and repayment terms depending on the loan type and your eligibility requirements.

If you’re applying for a federal student loan, you’ll need to fill out the Free Application for Federal Student Aid (FAFSA). The FAFSA is the universal application form that the US Department of Education’s Federal Student Aid Office uses to determine your eligibility for federal loans and grants.

ASU accepts the following types of federal student loans:

  • Federal Direct Subsidized Loans

  • Federal Direct Unsubsidized Loans

  • Federal PLUS Loans

Arizona State also accepts private loans (which are generally credit-based) from other lenders. If you’re going for a private loan, just be aware that the application process is far from universal. Each lender will inevitably have its own application process, so just make sure you understand how to apply and all the eligibility requirements.

Do you want to learn more about applying for ASU student loans? Join Mos now and let’s get started.

FAFSA

A lot of financial aid opportunities offered to ASU students require you to fill out the Free Application for Federal Student Aid (FAFSA).

The federal government uses the FAFSA to figure out how much US Government aid you’re entitled to receive. But your state government and ASU will also look at the information you’ve included in your FAFSA to determine whether you’re able to secure any state-based financial aid or institutional aid.

That being said, it’s important to remember that a lot of ASU’s scholarships require you to complete separate application forms. This is particularly true for current ASU students applying for scholarships.

For more information on applying for the FAFSA—including key dates and how to make sure your application is submitted successfully—head to our learning hub.

ASU FAFSA

ASU financial aid FAQs

We’ve covered ASU scholarships and loans. Now, let’s take a look at some of the most frequently asked questions (FAQs) about ASU financial aid.

What percentage of students receive financial aid at Arizona State University?

The vast majority of ASU students receive financial aid. In the fall of 2020, a whopping 89% of ASU undergraduate students received some form of financial assistance.

A third of all ASU undergraduates received a Pell Grant in 2020—and in the fall of 2021, 80% of all first-year students who were Arizona residents earned one of ASU’s New American University Scholarships.

ASU financial aid stats

ASU offers 4 different types of New American University Scholarship awards: the President's Award, the Provost's Award, the Dean's Award, and the University Award. Each award varies based on whether a student is from Arizona or out of state.

Who qualifies for financial aid in Arizona?

The state of Arizona offers a pretty inclusive set of eligibility requirements for its in-state students. That being said, you do have to fulfill some basic criteria in order to qualify for financial aid.

To get federal financial student aid in the state of Arizona, you’ll need to have a high school diploma or equivalent. You also need to be admitted to a university degree program and be enrolled in that program.

To qualify for student aid, you need to be enrolled at least half-time, and you must be working toward a degree or a combined degree. If you’re only enrolled in a certificate program, you won’t be eligible for federal student aid. This includes loans.

Next, you need to be able to demonstrate financial need. You’ll be able to do this through the information you include in your FAFSA application. That being said, it’s worth noting that a lot of loans and scholarships are available to students without a demonstrable financial need.

You’ve also got to be either a US citizen, a US national, or an eligible non-US citizen with a valid Social Security Number (SSN).

Finally, you’re going to have to maintain satisfactory academic progress toward achieving your college degree—and you will need to attend all of the classes you’re enrolled in. If you fail to attend some of your classes, your aid will likely be reduced as part of an aid adjustment.

Is FAFSA required for ASU?

It’s worth noting that a FAFSA isn’t required for every single financial opportunity at ASU. But if you’d like to be considered for most campus-based funds, institutional grants, Federal Pell Grants, and Direct Loans, a FAFSA is required.

You have to send in a valid FAFSA and any verification documents before your last day of attendance (LDA).

Universities like ASU that you might be interested in

If you’re still unsure about whether ASU is truly where you belong, don’t sweat it. There are loads of other universities in Arizona worth checking out.

ASU Alternatives

To help you get started in your search, here are a few of the most popular ASU alternatives.

University of Arizona

The University of Arizona was founded the same year as ASU (1885), and it’s based in nearby Tucson, Arizona.

The University of Arizona is home to more than 49,000 students, and the Arizona Wildcats compete against ASU in the Pac-12 Conference for NCAA sports.

Arizona’s acceptance rate is comparable to ASU — although tuition is slightly higher at $12,700 per year for in-state students and $37,200 per year for out-of-state students.

Grand Canyon University

Like ASU’s flagship campus, Grand Canyon University (GCU) is based in Phoenix, Arizona.

GCU has a large cohort of on-campus students, with just under 59,000 using its 100-acre campus as a base. GCU is split into six colleges, and most of Grand Canyon’s athletic teams compete at the NCAA’s Division I Western Athletic Conference.

Northern Arizona University

Founded in 1899, Northern Arizona University (NAU) is based in Flagstaff, Arizona.

NAU has a total enrollment of more than 28,000 students, and the school offers over 180 undergraduate programs, 90 undergraduate and graduate certificates, and a hundred online degree programs.

The cost of tuition at NAU is fairly comparable to ASU. In-state residents must pay $10,650 per year, and out-of-state students pay $25,396 per year.

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Conclusion

If you’re looking for a college that has a big range of majors and specializations, Arizona State University is a pretty attractive option. But equally as important as its academic reputation, ASU also has a huge student community that caters to all sorts of hobbies and interests.

Fortunately, Arizona State understands that most students can’t afford to go to college without a helping hand. That’s why it offers students loads of different scholarships and financial aid opportunities.

If you’re on the hunt for the best way to pay for a school like ASU, Mos can help.

We can help you apply for hundreds of scholarships and grants and negotiate for more financial aid. Check out Mos.com to learn more.

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