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Financial Aid Frequently Asked Questions

I'm receiving some financial aid from an organization in my community. Will this affect my eligibility for other forms of financial aid?
Students must report all financial aid received to the UMBC Office of Financial Aid. Federal regulations require that all aid be taken into consideration when determining need. It may be necessary, in some circumstances, to adjust a student's financial aid package if outside aid is involved.

What percentage of UMBC's students receive financial aid?
Over 55 percent of UMBC students receive some form of financial aid, much of which is need-based.

What is UMBCÕs Federal School Code?
002105

I'd like to participate in the Federal Work-Study Program, but I don't want just any job. What are my choices?
At UMBC, work-study jobs range from the clerical to the highly technical. Many non-work-study jobs are also available on campus.

What if my parents do not qualify for a PLUS loan?
In cases where parents are denied a PLUS loan, students have additional eligibility under the Federal Unsubsidized Stafford Loan program. For information, contact the UMBC Office of Financial Aid.

I'm not a Maryland resident. Can I apply for a grant in my home state?
Some states allow students to take their scholarships out of state. Check with your state's grant agency to determine its policy.

What happens if I receive a federal student loan and later find that I'm unable to repay it on time?
All loans must be repaid in full. However, in cases of extenuating circumstances, such as unemployment or disability, deferment or forbearance may be granted by the lender.

What are the deadlines for applying for student loans?
Students interested in applying for loans should submit their FAFSA as soon as possible after January 1. Students are encouraged to apply early to ensure processing within federal timelines.

Does UMBC offer non-need-based aid?
A number of merit scholarships are available both to incoming and current students. More information is available from the UMBC Office of Financial Aid and Scholarships by calling 410-455-3813 or via email at schl_info@umbc.edu.

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