At UMBC, approximately 46 percent of students receive need-based financial aid. "Financial need" is defined as the difference between the cost of your education and what you and your family are expected to contribute, as calculated under the federal methodology formula.

Several types of need-based financial aid are available: grants, scholarships, loans and employment programs. Grants and scholarships need not be repaid; repayment of loans begins after the student drops below half-time enrollment status or leaves the university.

To determine the amount of their financial need, students must submit a completed
Free Application for Federal Student Aid (FAFSA), available in paper form from most colleges and the UMBC Office of Financial Aid. The FAFSA can also be filed online at www.fafsa.ed.gov.

The FAFSA (listing UMBC's federal code 002105) must be sent  to the Federal Student Aid Programs processing center as soon as possible after January 1 to reach UMBC by the February 15 priority deadline. (Your admission paperwork should also be completed by February 15 to receive full consideration for aid.)

UMBC's Office of Financial Aid can also help students apply for the following off-campus aid:

•   Federal Stafford Loans
•   Federal Parent Loans for Undergraduate Students (PLUS)
•   Part-time employment and private scholarships.
  

A monthly payment plan is also offered through the Bursar's Office.

For more information, please call 410-455-2387, email: finaid@umbc.edu or visit

www.umbc.edu/financialaid.