$4,801

Avg. Federal Grant

$5,233

Avg. Federal Loan

$143,661,519

Total Aid Awarded

University of Maryland (UMD) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

51%

Total Aid Amount Average Total Aid Awarded per year.

$143.662M

Financial Aid Official Website

www.financialaid.umd.edu/

Such schemes include Banneker/Key Scholarship, Christa McAuliffe Scholarship, Creative and Performing Arts Scholarship, and Dean's Scholarship. As many as 66% of the students at UMCP get some sort of financial aid, and the total amount of assistance/loans provided is more than $59,112,605 in a year. Notably, a total of 13% of the applicants to University of Maryland-College Park receive the Federal Grant every year. In comparison, 48% of the students are awarded the Student Grant, 40% get the Institution Grant, and 13% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,061, while the same comes to $4,692 for State Grant receivers and $8,060 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,931. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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. Every year, around 30% of the applicants to University of Maryland-College Park opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

14%

State Grant Aid

16%

Institution Grant Aid

53%

Pell Grant

14%

Average Aid Awarded

Federal Grant Aid

$4,801

State Grant Aid

$5,070

Institution Grant Aid

$6,350

Pell Grant

$4,786

As shown in the table the breakdown includes Federal Grants, Pell Grants, state grants and institutional grants. Institutional grants have the highest percentage contribution of 53% with an average aid amount being $6350.

Pell grants have a percentage of 14% with an average aid amount of $4786 and State grant have a percentage of 16% with an aid average of $5070.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$17,939

$30,001 - $48,000

$13,552

$48,001 - $75,000

$8,770

$75,001 - $110,000

$3,445

Over $110,000

$1,580

As shown in the table lower the family income higher is the amount of aid one can expect to receive. For those students who have a family income under $30,000 can expect to receive an aid amount of $17939 while those with family income over $110,000 can expect to receive an aid amount of $1580. This helps students who are coming from low income homes to pay for their degree.

Student Loans for University of Maryland (UMD)

Average Loan Amount Average Loan Amount received per year.

$8,322/Year

Students Taking Out Loans

31%

Loan Default Rate

2.3%

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