Viewing and accepting your awards is done through myUMBC. Once your financial aid award package has been created, our office will send an e-mail to your UMBC e-mail address directing you to your Financial Aid Inquiry on myUMBC. There, you will be able to view and accept or decline your awards.
Automatically Accepted Awards
Certain awards are automatically accepted for you and are on myUMBC for your review. You do not need to take additional action to accept these awards. Automatically accepted awards include certain need-based grants and continuing merit scholarships. Grants and scholarships are considered “gift aid” because they are awards that you do not have to repay.
Learn more about the grants offered at UMBC.
Awards You Can Accept or Decline
You may choose to accept or decline each award listed in “Offered” status in your myUMBC Financial Aid Inquiry. These awards may include Federal Direct Stafford Loans or Federal Work-Study.
- Log into your myUMBC account.
- Step 2.
- Step 3.
- Step 4.
- Etc…
Federal Direct Parent PLUS Loans
The Federal Direct Parent PLUS Loan is a credit-based loan that the parent(s) of a dependent undergraduate student may borrow to help pay educational expenses. If your financial aid award package includes an optional Parent PLUS Loan, your parent(s) must confirm their eligibility by completing a separate Parent PLUS application. If you do not wish to borrow a Parent PLUS Loan, you do not need to take any option to decline the loan. If no action is taken, the Parent PLUS Loan offer will be removed from your financial aid package within 45 days.
Learn more about the Federal Direct Parent PLUS Loan.
First-Time Borrowers
If you have accepted a Federal Direct Stafford Loan and you have not previously borrowed at UMBC, you will need to complete a Master Promissory Note (MPN) and Entrance Counseling before the loan funds can be credited to your student account.
Entrance Counseling is designed to help you ensure that you understand the responsibilities and obligations you are assuming by borrowing federal student loan funds. The MPN is a legal document in which you promise to repay your federal student loan(s) and any accrued interest and fees to your lender or loan holder. You will need to complete both the MPN and Entrance Counseling at studentloans.gov, using your FSA ID.
Modifying an Award Amount or Loan Term
If you would like to change the term or amount of an award you previously accepted or declined, you may do so by completing the appropriate form:
- Loan Increase/Reinstate Request Form– Complete this form if you would like to increase or reinstate a loan you previously declined or accepted less than the full amount
- Loan Decrease/Cancel Request Form– Complete this form if you would like to decrease or cancel a loan you previously accepted
Changes to your Financial Aid Award Package
Our office may be required to make changes to your initial financial aid award package if we receive information that is different from the assumptions used to determine your eligibility, including information related to:
- Change in expected enrollment – Students who will be enrolled less than full-time must complete an Enrollment Update Form. We also encourage you to contact your Financial Aid Counselor directly to discuss how part-time enrollment may impact your financial aid award(s).
- Change in expected housing status – If your housing plans have changed from what you reported on your FAFSA, you must complete a Housing Update Form.
- Change(s) to your FAFSA due to Verification – Students who are selected for Verification must provide all required documentation, and Verification must be complete, before any financial aid can be disbursed.
- Receipt of additional awards – Students who are receiving outside awards must complete a Private Scholarship Notification Form. Receipt of outside awards, such as private scholarships, tuition waivers, and/or assistantships may impact your financial aid award(s).