$3,733

Avg. Federal Grant

$5,749

Avg. Federal Loan

$46,048,748

Total Aid Awarded

University of Maryland University College (UMUC) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

30%

Total Aid Amount Average Total Aid Awarded per year.

$46.049M

Financial Aid Official Website

www.umuc.edu/students/aid/index.cfm

As many as 46% of the students at UMGC get some sort of financial aid, and the total amount of assistance/loans provided is more than $73,691,212 in a year. At UMGC, the total percentage of applicants who receive the Federal Grant stands at 32%. Meanwhile, 35% of the applicants receive the Student Grant and 11% are awarded the Institution Grant, while 32% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,054, the State Grant receivers and Institution Grant beneficiaries get $5,127 and $1,013, respectively. And, for the Pell Grant awardees, the average aid amount is $3,306. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. 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 Global Campus, the percentage of candidates who opt to avail of student loans is around 23%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

34%

State Grant Aid

6%

Institution Grant Aid

10%

Pell Grant

34%

Average Aid Awarded

Federal Grant Aid

$3,733

State Grant Aid

$2,444

Institution Grant Aid

$1,665

Pell Grant

$3,706

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

$4,150

$30,001 - $48,000

N/A

$48,001 - $75,000

N/A

$75,001 - $110,000

N/A

Over $110,000

N/A

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 University College (UMUC)

Average Loan Amount Average Loan Amount received per year.

$5,749/Year

Students Taking Out Loans

30%

Loan Default Rate

6.1%

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