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UMBC offers a range of financial aid and payment options so that all students may benefit from a UMBC education. Financial aid can come in the form of grants, work, student loans, parent loans, scholarships and other awards.

News


Summer 2018 Financial Aid

Summer Book Loans are now available. Visit our Book Loans page to learn about who is eligible to receive a book loan, how the book loan process works, and to complete an online Summer Book Loan Application.

The 2018 Summer Financial Aid Application is live, and the final deadline is June 22nd. We also have resources to help you calculate your Summer Session costs, estimate your summer financial aid eligibility, and explore other financing options.

2018-2019 MHEC Awarding

Update Friday 4/27/2018: MHEC has recently completed its first round of awarding to initial and renewal students in the EA and GA Grant Programs for the 2018-2019 academic year. Renewal students eligible to receive the award in their third year and thereafter are currently in a “Qualified/Pending” status in MDCAPS. Their awards will not be finalized for the 2018-2019 academic year until UMBC reports the total number of credits earned during the 2017-2018 award year. Learn more here.

The Office of the Registrar at UMBC requires faculty to report Spring 2018 grades by Wednesday, May 30, 2018, and transcripts to be updated by Wednesday, June 6, 2018. UMBC will report 2017-2018 credits earned to MHEC immediately after this date so that award amount(s) may be finalized.

MHEC is in the process of e-mailing award notifications to students. Remember to log into MDCAPS to view your State awards.

Fall 2018 Transfer Merit Scholarships

All Fall 2018 Merit Scholarships for incoming transfers have been awarded.  Please log into your myUMBC account for additional information on your award offer.  The deadline to accept UMBC Merit Scholarships for incoming transfers is June 1, 2018.  Step-by-Step Instructions are available in your offer packet and online here.  

2018-2019 Cost Calculators

Need help estimating your bill for the Summer Session 2018 and/or the 2018-2019 academic year? Our Cost Calculators are a set of interactive tools specifically designed to help students determine their out-of-pocket expenses.

2018-2019 Free Application for Federal Student Aid (FAFSA)

The 2018-2019 FAFSA is available at https://fafsa.gov/. You will need to use your 2016 tax information to complete your 2018-2019 FAFSA. The IRS Data Retrieval Tool (DRT) is available for the 2018-2019 FAFSA.

We are currently in the process of making need-based financial aid offers for Fall 2018 incoming freshmen and continuing students. Award notifications are sent electronically to students’ UMBC e-mail accounts.

Student Loan Notification Letters

Beginning with the 2018-2019 award year, colleges and universities in Maryland are required to provide each student applying for financial aid with an annual Student Loan Notification Letter, which includes information about their current individual student loan debt. These letters will be sent electronically, along with continuing students’ 2018-2019 financial aid award notifications. Please take time to review your letter carefully. Planning your expenses ahead of time and borrowing only what you really need can reduce future debt. More information about repayment options can be found here.

 Profile Sharing

The Family Educational Rights and Privacy Act (FERPA) protects the privacy of student education records by limiting the disclosure of such records. Students may grant other individuals access to their account information via the Profile Sharing feature in myUMBC. It is a student’s responsibility to share their profile with anyone they would like to receive information about their financial aid and billing.  For instructions on how to provide a person access to your financial aid and billing information, please see our Profile Sharing Instructions.

Remember…


FAFSA School Name: UMBC
FAFSA School Code: 002105

Financial Aid Processing:

The Office of Financial Aid and Scholarships has experienced a number of staff transitions in recent months. These transitions have impacted the office as a whole but in particular our Counseling Unit. As a result, we have had to temporarily suspend our typical assignment of a Financial Aid Counselor to each student applying for financial aid. This decision was made to streamline our processes and to ensure every aspect of a student’s financial aid account is addressed as efficiently as possible.

Regrettably, this transition has made it difficult for our office to uphold our publicized four-week processing time. Currently, our top priority is ensuring that all students who have submitted all required documents by mid-May are processed and awarded before the end of June. If an unforeseen circumstance prevents us from meeting that goal, please rest assured that your aid package will be in place prior to receiving your Fall 2018 bill on August 1.

We would also like to share the good news that our Counseling Unit will return to full capacity in the near future. Once our new Counselors have completed their training, we will let students know who their assigned Financial Aid Counselor will be.

As always, we truly appreciate your patience.

To see a list of requirements, view your Alerts via your myUMBC account. >>