Rowan to increase financial aid by $10M

I am pleased to announce that the Rowan University Board of Trustees yesterday approved a Fiscal Year 2024-25 budget that includes a $10 million increase in scholarships and waivers over last year’s budget. Of that, $3 million will be distributed through the Rowan Emergency Assistance Fund for our students with unique circumstances and who have the greatest need. 

Acquiring financial aid can be challenging. Very often, the figures a student submits through the FAFSA don’t tell the entire story about the finances needed to complete their education. Each year, we are finding more and more students who are eligible for an assortment of aid (i.e., federal, state, institutional, donor scholarships, loans). Yet, they still have a significant need. Unfortunately, sometimes that gap, even if small, can force a student to put a hold on their studies or drop out altogether. 

Rowan Emergency Assistance Fund

Students who have exhausted traditional financial aid parameters may apply for additional assistance through the Student Emergency Assistance Fund. A committee will carefully review all applications and will award funds throughout the year. 

I’m thankful for students who have shared with us stories of their challenges to complete their degrees and I commend their perseverance and determination. Because of them, over recent years, we have created a wide variety of alternate and affordable pathways to a Rowan bachelor’s degree, including offering a free education to students with family incomes of less than $65,000 and developing the emergency fund to provide a flexible way to help students when all other options have been exhausted. 

We know the financial challenges that students face can be daunting. Because the value of a Rowan education goes far beyond what numbers can quantify, we will continue to find creative ways to make earning a college degree more affordable and attainable. 

Yours truly, 

Ali A. Houshmand

President