banner
Student Financial Aid

2015-2016 Financial Aid Award Guide

How We Determine Your Eligibility for Aid

Cost of Attendance Budgets

Costs of Attendance Budgets are estimates of the educational expenses incurred by students during a nine-month academic year. These budgets include direct university charges (tuition, fees and on-campus room and board) and estimates of indirect expenses (transportation, books, supplies, miscellaneous living expenses and off-campus room and board).


2015-2016 Undergraduate Budget

UNDERGRADUATE STUDENTS In-State Out-of-State
Tuition & Fees $9,996 $31,144
Books & Supplies $1,130* $1,130*
Subtotal $11,126 $32,274
 
On Campus Charges    
Room On Campus $6,678
Board On Campus $4,294
Personal Expenses & Transportation $2,490*
Subtotal $13,462
Total On Campus $24,588 $45,736
 
Commuter OR With Parents Charges    
Room with Parents $1,314
Board with Parents $1,674
Personal Expenses & Transportation $3,866*
Subtotal $6,854
Total With Parents $17,980 $39,128
 
Off Campus Charges    
Off Campus Room $8,784
Off Campus Board $4,294
Personal Expenses & Transportation $3,866*
Subtotal $16,944
Total Off Campus $28,070 $49,218
* These figures are averages and will vary from student to student. They are indirect costs not billed by the bursar.
Only students who are pursuing their studies in business, engineering and computer science will be charged additional tuition based on credit hours. Get additional information and a breakdown of these charges here.

2015-2016 Graduate Budget

GRADUATE STUDENTS In-State Out-of-State
Tuition & Fees $14,162 $28,782
Graduate Loan Fees $220**
Books & Supplies $1,130*
Personal Expenses & Transportation $3,866*
Room & Board Off Campus (not with Parent) $13,078*
Total $32,456 $47,076
* These figures are averages and will vary from student to student. They are indirect costs not billed by the bursar.
** This amount accounts for the average loan fees withheld by the U.S. Department of Education from the gross Direct Loans amounts.

2015-2016 MBA Budget

Note: The following information can be used to understand how eligibility is determined, but the actual dollar amount may not reflect current MBA tuition amounts. For tuition information, students should visit the Office of the Bursar or R.H. Smith School of Business websites.

MBA STUDENTS In-State Out-of-State
Tuition & Fees $44,992 $53,902
Graduate Loan Fees $220**
Books & Supplies $1,130*
Personal Expenses & Transportation $3,866*
Room & Board Off Campus (not with Parent) $13,078
Total $63,286 $72,196
* These figures are averages and will vary from student to student. They are indirect costs not billed by the bursar.
** This amount accounts for the average loan fees withheld by the U.S. Department of Education from the gross Direct Loans amounts.

2015-2016 Freshmen Connection Budget

The Freshmen Connection Budget figures are for the fall term only.

FRESHMEN CONNECTION STUDENTS In-State Out-of-State
Tuition & Fees - Fall $4,998 $11,175
Books & Supplies $565* $565*
Subtotal $5,563 $11,740
 
On Campus Charges    
Room On Campus $3,339
Board On Campus $2,147
Personal Expenses & Transportation $1,245*
Subtotal $6,731
Total On Campus $12,294 $18,471
 
Commuter OR With Parents Charges    
Room with Parents $657
Board with Parents $837
Personal Expenses & Transportation $1,933*
Subtotal $3,427
Total With Parents $8,990 $15,167
 
Off Campus Charges    
Off Campus Room $4,392*
Off Campus Board $2,147
Personal Expenses & Transportation $1,933*
Subtotal $8,472
Total Off Campus $14,035 $20,212
* These figures are averages and will vary from student to student. They are indirect costs not billed by the bursar.

2015-2016 Summer Term Budget *subject to change

UNDERGRADUATE STUDENTS In-State Out-of-State
Tuition $2,040 $7,326
Standard Fees  $536*
Books  $283*
Living Expenses $2,400*
Total $5,259 $10,545
* These figures are averages and will vary from student to student. They are indirect costs not billed by the bursar.

GRADUATE STUDENTS In-State Out-of-State
Tuition $3,792 $8,178
Standard Fees  $536*
Books  $341*
Living Expenses $2,400*
Total $7,069 $11,455
* These figures are averages and will vary from student to student. They are indirect costs not billed by the bursar.
MBA STUDENTS In-State Out-of-State
Tuition $8,790 $10,590
Standard Fees  $536*
Books  $407*
Living Expenses $2,400*
Total $12,133 $13,933
* These figures are averages and will vary from student to student. They are indirect costs not billed by the bursar.


Expected Family Contribution

The federal processor determined your Expected Family Contribution (EFC) by analyzing the income and asset data reported on your FAFSA. Your EFC represents the amount of money your family should be able to contribute to your educational expenses during the academic year. Your actual contribution will depend on the amount of financial aid you receive.

Financial Need

Your Financial Need is the difference between your Cost of Attendance and your Expected Family Contribution.

Example using 2015-2016 COA budget:

  Cost of Attendance Budget:
$24,588
- Expected Family Contribution:
- 10,872

= Financial Need:
$13,716

We offer need-based aid to students who show financial need. Your total need-based aid, combined with any other aid you may receive, cannot exceed your financial need. Need-based aid includes Federal Work-Study (FWS), Perkins Loans, Subsidized Direct Loans, and need-based federal, state and university grants. Outside resources include UM tuition waivers/remission, Resident Assistant benefits, employer tuition benefits, vocational rehabilitation benefits, and private, state and university scholarships.

Students who do not demonstrate financial need may still be eligible to borrow non-need-based student loans and may also receive merit-based grants and scholarships.

FAFSA Corrections

Once the federal processor receives your FAFSA, you are sent a Student Aid Report (SAR) which summarizes your FAFSA data. If you filed your FAFSA online and have your Federal Student Aid ID (FSA ID), corrections may be made online. Your eligibility for aid is based on the information reported on your FAFSA and any additional information we collected from you.

If you need to correct your FAFSA data after we have awarded you financial aid, please contact a Financial Aid Counselor at 301-314-9000 or visit the Appeals Section of our website for additional information.

Special Circumstances

Your eligibility for aid is based on the income and asset data you reported on your FAFSA. If your income has decreased or if you have other special financial circumstances that were not taken into account on your FAFSA, you may qualify to have your financial need recalculated. For more information about the types of circumstances that would qualify for recalculation of your financial aid, please view the Special Circumstances Appeal Form.