Need-based Financial Aid for Freshmen and Transfers

The University of Maryland offers a comprehensive need-based aid program for students who demonstrate financial need as determined by the Free Application for Federal Student Aid (FAFSA). Two categories of need-based aid are available: gift aid (grants) and self-help (loans and Federal Work-Study). Eligibility requirements vary, with the neediest students receiving the most gift aid. Eligible students may be awarded either or both types of need-based aid.

The FAFSA must be received by February 15th - our priority financial aid deadline - at the Federal Student Aid Programs processing center for the student to be considered for the maximum possible need-based award. The FAFSA can be submitted online at http://www.fafsa.ed.gov/.

Those students admitted for the Spring semester should complete a FAFSA based on the most recent tax statement.  Financial awarding for Spring will begin in November.

Notification

Admitted students can monitor the financial aid process online at the University's secure web site: https//www.sis.umd.edu/fastat/. Admitted new students will be notified by email to check this site once financial aid has been awarded, or if there are additional documents required. If all requested information has been submitted in a timely manner, financial aid awards for Fall admitted freshmen will be made by April 1. The Financial Aid Award Guide will detail the types and amounts of aid, and what you must do to receive and keep this aid. The Award Guide is available online at http://www.financialaid.umd.edu/.

Federal Pell Grant

The Federal Pell Grant is awarded to eligible undergraduate students seeking their first bachelor's degree and is based on the expected family contribution as determined by the FAFSA. Awards range from $400 to $4,050 per year.

Federal SEOG

The Federal Supplemental Educational Opportunity Grant (SEOG) is awarded to undergraduate students seeking their first bachelor's degree who have exceptional need. Awards range from $200 to $600 per year.

State of Maryland Grants

The Maryland Higher Education Commission Office of Student Financial Assistance awards several need-based grants. Two of the grants - the Guaranteed Access Grant and the Educational Assistance Grant - are available to full-time undergraduates who demonstrate financial need as determined by the FAFSA and are Maryland residents. Information about these grants is available by calling (410) 260-4565.

University of Maryland Grants

The University of Maryland awards grants to eligible full-time undergraduate students seeking their first bachelor's degree who have financial need as determined by the FAFSA. The UM Scholarship is awarded to eligible undergraduates based on academic performance. The UM Grant may be awarded to any eligible undergraduate. Awards typically range from $500 to $2,900 per year.

Federal Perkins Loan

The low-interest Federal Perkins Loan is available to students with exceptional financial need. It is borrowed from the school and must be paid back. Loan amounts range from $200 to $1,800 per year. New borrowers have a grace period of nine months after graduating or leaving school before they begin repayment, and are not responsible for paying the interest on the loan while attending school.

Federal Stafford Loan

The Federal Stafford Loan is available to students who attend college at least half-time. Eligibility for this low-interest loan is not based on credit history. The loan is borrowed by the student and must be paid back by the student. Two types of Federal Stafford Loans are available, subsidized and unsubsidized. Financial need must be demonstrated to receive a subsidized loan - borrowers do not accrue interest on the loan while attending school; unsubsidized loans do not require need and borrowers do accrue interest during school attendance. Maximum annual loan amounts range from $2,625 to $5,500 per year depending on the student's year in school.

Federal Work-Study

The Federal Work-Study (FWS) student employment program provides eligible students the opportunity to earn money to meet their educational and personal expenses. Money earned from a FWS job does not have to be paid back. To be considered for FWS, you must demonstrate financial need as determined by the FAFSA. Awards range from $800 to $2,200 per year. Pay rates vary depending on the complexity of the work. Employment opportunities are available on-campus, at selected off-campus sites, and through several community service and federal government agencies.