University of Maryland Financial Aid

University of Maryland is one of the nation's leading higher education institutions.

It is located in the state of Maryland and is one of the largest research institutes in the country. The University of Maryland was established in 1856 for the purpose of offering undergraduate and graduate degree programs.

About University of Maryland Financial Aid

The rising cost of higher education has made it difficult for many students to pay the tuition fees.

But due to availability of financial aid, many students can now attain education of their choice easily. The Office of Student Financial Aid (OSFA) is a department of the University of Maryland that solely works towards assisting students regarding fincial aid.

University of Maryland Financial Aid is available through different programs, each designed to meet the financial needs of students. The eligibility criteria, repayment plan, and application procedure is different for each program.

University of Maryland Financial Aid Packages

The University of Maryland offers loans such as Direct need loans, Non need based loans, Direct Plus loans and Private loans.

Students can apply for loans from private financial institutions or apply for government based (federal loans). Students applying for federal loans at this university must submit a FAFSA application. Following are the types of federal loan options: Perkins loan, Stafford loan, Subsidized Direct loan, Unsubsidized Direct loan, PLUS loans, and Grad PLUS loan. The interest rate, repayment schedule, and eligibility criteria vary from loan to loan.Grants are monetary gifts which require no repayment in the future.

University of Maryland chungminhtaichinh Financial Aid department has designed three different types of grant programs for students:

• Maryland Pathway Program: This program is designed for students residing in Maryland and belonging to low income families. Only Maryland resident students can apply for this grant.
• Need Based Grants:These grants are awarded to students who demonstrate financial need.Students can apply fro this grant by submitting a FAFSA application.
• Service Grants: Service grants are similar to work study programs. Students are awarded money in return for a specific service rendered at the University of Maryland.

Federal Work Study is a federally funded University of Maryland Financial Aid program.

Students are provided with employment opportunities on campus, allowing them to work part time and earn to cover their tuition costs. A FAFSA application must be submitted to apply for this program.Scholarships are awarded to deserving students who show excellence at academic level and athletic level.

This type of University of Maryland Financial Aid program is purely merit based. The University of Maryland offers a number of private, federal, and self designed scholarships programs.Another type ofUniversity of Maryland Financial Aidprogram is the emergency assistance aid.

It comprises of two programs: Keep Me Maryland, and Dream Keeper's Emergency Assistance Fund. Both these programs are designed to finance studies of students who are at risk of dropping out due to unexpected domestic financial crisis.