Financial AidFor many students and families, college is a major investment. The University of Maryland is here to help.
We understand that without financial support, a college degree would be out of reach for many talented students. That’s why the University of Maryland has a long history of providing financial support to students of all economic backgrounds. If you need help, we are here to help you navigate the financial aid process and understand your options.
- gift aid (grants)
- self-help (loans and Federal Work-Study)
To be considered for need-based aid, you must annually complete and submit the Free Application for Federal Student Aid (FAFSA) each year. For priority consideration, the federal processor must receive your FAFSA by January 1, 2017. Students who demonstrate the most need are considered for the most gift aid. Need-based aid can also be combined with merit scholarships. In fact, nearly 75 percent of all freshmen receive some form of financial aid.
Need-based aid will be awarded no later than March 1. When it is available, students can view their financial aid status and awards in the Student Financial Services Portal.
The Free Application for Federal Student Aid (FAFSA) is an essential tool in securing need-based support. Each student must complete the FAFSA in order to qualify for financial aid at the University of Maryland.
For priority consideration, the federal processor must receive the FAFSA by January 1, 2017. In the section of the FAFSA titled "Releases and Signatures," please enter "University of Maryland, College Park" and our school code: 002103. When you submit your FAFSA online, you should request your FSA ID from the federal processor so you can sign the FAFSA electronically. If you are a dependent student, a parent must also apply for an FSA ID to file online. You may apply online for your FSA ID. The Office of Student Financial Aid provides additional information about completing the FAFSA.
The FAFSA requires information from your and your parents’ federal income tax returns. You don’t need to wait until your tax returns are filed to complete and submit the FAFSA. If you haven’t yet submitted your income tax forms, you should submit the FAFSA with estimated tax return figures. There’s no penalty for filing estimated tax figures on the FAFSA, and you’ll have the opportunity to correct information later if necessary.
Beginning in October 2016, students can file the FAFSA using prior-prior-year tax data, which will eliminate the need to estimate tax return figures.
The university offers the Terp Payment Plan for paying university charges and fees. This allows you to spread your academic year payments out over eight or 10 monthly payments, or your semester payments into four or five payments. There is no interest, just a modest enrollment fee.
You can include most university charges in the Terp Payment Plan, including tuition, fees, room, meal plans, telecommunication fees, parking permits and orientation charges.