Frequently Asked Questions
Where should I start?
Your first action should be to complete a Free Application for Federal Student
Aid (FAFSA) and include the University of Maryland, College Park's school code
(002103) in it so that we receive your information. Once we receive your FAFSA
we can begin awarding your financial aid.
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What types of financial aid are available to me?
In addition to any Fellowships or Assistantships awarded by individual departments
you can receive up to $20,500 in stafford loans. (Stafford loans are one of
the only aid programs directly administered by our office to graduate students.)
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Can I receive Federal Work Study?
Graduate students can receive federal work study. However, it is not automatically
awarded. To be awarded FWS submit a written appeal to the Office of Student
Financial Aid for consideration.
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When will I hear about my financial aid award?
Students who are applying for the upcoming Fall semester and who have their
applications completed January thru March should receive an award letter in
June regarding their financial eligibility. Students who are applying later than that
will be notified approximately 4 to 6 weeks after their FAFSA has been filed. The earlier in the year that you file your
FAFSA the more efficient the process will be as a whole. Our best advice would be to complete your FAFSA as soon as possible in the year so that all your financial
arrangements are in place prior to the start of classes.
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When will I receive a Refund?
If your total financial aid is more than your tuition and fees you will be sent
a refund check. This first refund checks are disbursed within the first week
of each semester for those students who have completed their financial aid process.
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How will I know what is going on in the financial aid
process?
Students have access to their information via ww.testudo.umd.edu, the university's
student information system. To log in you will need your Social Security Number
and your University PIN (will default to your 6 digit birthdate for first time
users).
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What is a Student Budget?
A student budget is an estimated cost of attendance for one academic year. It
includes items such as tuition, room and board expenses, personal transportation
expenses and books. The student budget is used in part to determine a student's
financial aid eligibility.
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What is an EFC?
The EFC is the Expected Family Contribution, determined by the information that
is submitted on the FAFSA. It is a baseline estimate of what the Department
of Education feels you should be able to contribute to the cost of your education.
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How is financial aid eligibility determined for graduate
students?
Subsidized and unsubsidized stafford loans are awarded based on the information
submitted on the FAFSA. The EFC (Expected Family Contribution) as determined
by the FAFSA is compared to the Student Budget. When the EFC is lower than the
student budget, that gap is used to determine eligibility for need based aid
programs (Subsidized Stafford Loans)
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If I made a mistake on my FAFSA, can I fix it?
Yes, adjustments can be made if the FAFSA is completed incorrectly. If your
FAFSA information hasn't been downloaded by the Financial Aid office you can
make corrections directly to your online application or to your Student Aid Report.
If we have downloaded a copy of your information, corrections should be submitted
directly to the Office of Student Financial Aid.
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If had a high income last year, do I even qualify for
financial aid?
Yes, graduate students can receive up to $20,500 in Federal Stafford Loans if
they are enrolled in a degree seeking program at least half-time and have not
defaulted on any previous federal student loans.Students who experience a material
decline in earnings from one tax year to the next have the ability to adjust
their FAFSA information.
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Why does the online acceptance ask me to report any
additional sources of financial assistance? If it's a University award shouldn't you have record of it?
We ask for you to report any additional financial assistance due to the fact
that there are strict regulations on how much need based federal aid a student
can receive, in relation to the overall cost of attendance. By reporting an
estimated dollar amount of additional financial assistance you are receiving
from other sources we are better able to make sure that you are being properly
awarded your financial aid.
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How do I choose a lender?
When awarded your Stafford loan eligibility, you are asked to select a lender to provide you with these funds. You can research potential choices from our lender list available on our web site. There won't be a need for you to apply directly with a lender for your Stafford eligibility. We will process your request once we have received your acceptance of your eligibility and your lender choice.
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How can I contact the Office of Student Financial Aid?
Students can set up appointments with counselors, speak with Bursar representatives and have their general financial aid questions answered by contacting us at (301) 314-9000 or by sending us an email from our website. Office hours are from 8:30am to 4:30pm Monday thru Friday.
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