$5,192

Avg. Federal Grant

$5,219

Avg. Federal Loan

$54,815,887

Total Aid Awarded

University of Maryland Baltimore County (UMBC) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

53%

Total Aid Amount Average Total Aid Awarded per year.

$54.816M

Financial Aid Official Website

financialaid.umbc.edu/

Such schemes include Academic Achievement Award for Transfers, Alumni Association Scholarship, Ancient Studies Scholarship, and Barksdale Scholarship. It is interesting to note that, every year, around 90% of students at UMBC receive some kind of financial aid, while the total amount of assistance/loans provided is $26,255,271. At UMBC, the total percentage of applicants who receive the Federal Grant stands at 25%. On the other hand, 81% of the candidates get the Student Grant, 76% receive the Institution Grant, and 25% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,310, while the same comes to $4,974 for State Grant receivers and $6,276 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $4,765. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At University of Maryland-Baltimore County, the percentage of candidates who opt to avail of student loans is around 34%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

25%

State Grant Aid

23%

Institution Grant Aid

77%

Pell Grant

25%

Average Aid Awarded

Federal Grant Aid

$5,192

State Grant Aid

$4,834

Institution Grant Aid

$6,127

Pell Grant

$4,873

53% of students in the university receive some form of aid. The total aid awarded amounts to $54,815,887. For aid received in terms of grants, 25% of students receive federal grant aid. The average federal grant aid a student receives is around $5,192. 25% of students receive the Pell Grant with an average aid of $4,873. 77% of students receive institutional grant aid with an average aid of $6,127

The average student loan amounts to $6,446 with 34% of students taking out a loan. Based on a standard 10-year payment plan the typical monthly loan payment ranges between $193-262 per month

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$14,338

$30,001 - $48,000

$10,990

$48,001 - $75,000

$4,407

$75,001 - $110,000

$1,122

Over $110,000

$465

Financial Aid comes in the form of federal aid for universities. This federal aid is given out according to the family income. There are 5 types of groups of income that have been created by the government to give out the funds. These groups help determine the average amount of aid that should be given to a particular family. With the average family income being between $0-48,000 most students do require financial aid in some form or another.

Families with income less than $30,000 receive the aid of around $14,338. Income between $30,001-48,000 aid of $10,990 is received. Family income ranging between $48,001-75,000 receives the aid of $4,407. Families with income between $75,001-110,000 receive aid of $1,122. Lastly, families with incomes greater than $110,001 receive the aid of $465. 

Student Loans for University of Maryland Baltimore County (UMBC)

Average Loan Amount Average Loan Amount received per year.

$6,446/Year

Students Taking Out Loans

34%

Loan Default Rate

4.2%

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