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OFFICE OF STUDENT FINANCIAL AIDStudent Financial Services Center1135 Lee Building 301-314-9000; fax: 301-405-9265 umfinaid@umd.edu www.financialaid.umd.edu The Office of Student Financial Aid (OSFA) administers all types of federal, state, and institutional financial assistance programs, and, in cooperation with other university offices, participates in the awarding of scholarships to deserving students. The primary responsibility for financing attendance at the University of Maryland, College Park, lies with students and families. Scholarships, grants, loans, and work-study positions are awarded on the basis of academic ability and/or financial need as determined by a federal needs analysis system. It is the intent of OSFA to provide assistance to students who might not otherwise be able to pursue college studies due to financial constraints. Financial aid funds are limited; therefore, all new, readmitted, and returning students must follow these steps to receive priority consideration for financial aid:
Applications received before February 15 will be given priority consideration. General Regulations Applicable to All Forms of Aid Full-Time Status. For most types of aid, students must attempt at least 12 credit hours through the schedule adjustment period each semester in order to receive the full financial aid award. Please refer to the standards of Satisfactory Academic Progress when considering dropping below 12 credit hours for any given semester. Citizenship Status. In order to be eligible for federal, state, or university financial assistance, students must be United States citizens or eligible non-citizens. Default/Owe Refund: Students cannot be in default on an educational loan, nor can they owe any refund on a Pell Grant or Supplemental Educational Opportunity Grant (SEOG) previously awarded at any post-secondary institution. Degree-Seeking: Students must be working toward a degree or certificate. Students must be admitted to the university as "degree-seeking." Satisfactory Progress: Students must be making satisfactory progress toward a degree or certificate according to the Standards for Satisfactory Academic Progress published in the Schedule of Classes. Selective Service: To receive federal financial aid, male students must register with Selective Service if they are at least 18 years old and born after December 31, 1959, unless they are not required by law. The federal government will verify compliance of this registration requirement. Receiving a Non-University Award: If a student receives assistance (scholarship or loan) from a non-university source, the university may reduce the financial aid awarded by the university. It is the student's responsibility to notify the Office of Student Financial Aid of all outside awards. Change in Financial Situation: It is the student's responsibility to notify the Office of Student Financial Aid of any changes to his or her financial circumstances during the year. Reapplication Requirement: Need-based assistance is not automatically renewed from year to year. All students requesting need-based aid must reapply by submitting a new or renewal FAFSA annually. Such reapplication must indicate continued financial need and maintain Satisfactory Academic Progress (SAP). Award Policy: Financial aid is normally a combination of grants, loans, and student employment. The financial aid "package" is determined by the availability of financial aid and the financial circumstances of each student. It is not necessary to make any special application for university grants. The Office of Student Financial Aid will determine awards that best fit the needs and qualifications of the candidates. Estimating Educational Cost A budget of average educational costs is used in determining the amount of aid that a student is awarded during the academic year. A typical budget for an undergraduate at the University of Maryland, College Park, is as follows: Dependent student living on campus/off campus* (not with parent/relative) The 2009-2010 budget has not yet been determined, use the following 2008-2009 budget as a guideline. To determine the final budget for the 2009-2010 academic year, please contact the Financial Service Center at 301-314-9000.
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