Banneker/Key Scholarship Program

Policy Statement

Description and Eligibility

The full Banneker/Key Scholarship is awarded to selected students for a maximum of 8 consecutive undergraduate semesters, provided that the student is making satisfactory academic progress. Students must register for a minimum of 12 credits per semester, maintain a minimum 3.20 cumulative grade point average (GPA), and must successfully complete 24 credits per academic year. In the event that a student fails to maintain a 3.20 cumulative GPA, the student will have one probationary semester to raise his/her GPA. In addition, failure to complete 24 credits per academic year will result in scholarship cancellation. For the purpose of this policy, successful completion of a course is defined as any course in which a grade of A,B,C,D,S, or P is received. Students may take courses during winter and summer terms to make up any necessary credits or to bring their cumulative GPA up. Because students must initially be registered for 12 credits or more in order for their scholarship to be credited to their account, wait-listed classes will cause delay in fund allocation. Any withdrawal from classes during a given semester may result in a scholarship adjustment.
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Non-Standard Programs

If you plan to participate in a Study Abroad Program, Co-op, or any other non-standard academic program, you must obtain prior approval from your program advisor. With prior approval, you may receive your Banneker/Key Scholarship during your Study Abroad Program. For approved Co-op programs, you may defer receipt of your Banneker/Key. Please be advised that if for any reason you do not comply with program requirements, the scholarship may be canceled.
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The maximum annual amount awarded under the Banneker/Key Scholarship program shall not exceed the total of the University of Maryland cost of tuition, mandatory fees, on-campus housing, board (Campus Point Regular) plan, and a book allowance. Should you choose the more costly Campus Plus meal plan, or a housing option where costs exceed those of a standard on-campus room charge, as listed here, you must meet the additional cost above the amounts.

Please note that the Banneker/Key Scholarship does not cover the cost of personal expenses or transportation.

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Receipt of More Than One Award

Should you receive assistance from other scholarships or sources of aid (e.g., Maryland Distinguished Scholarship, Federal Pell Grant, private scholarships), you will be entitled to receive up to the amount of Educational Expenses designated for that academic year. Should you receive funds in excess of Educational Expenses, as determined by the Office of Student Financial Aid, your Banneker/Key Scholarship will be adjusted. The Educational Expenses include both direct and indirect costs that students incur while attending college, and are defined as including tuition, fees, room, board, books, and personal expenses.

Please note that the Office of Student Financial Aid reserves the right to reduce your Banneker/Key scholarship at any time if it is discovered that you received additional funding in excess of incidental expenses as outlined above. The scholarship does not include any non-mandatory fees (e.g., board preview, orientation, vehicle registration, late registration, student exchange or Co-op, graduation, health or lab). Please refer to the Schedule of Classes for a complete list of mandatory and non-mandatory fees.

Scholarship recipients living off-campus in an apartment or room, or with their parents, shall be awarded the same amount as students living on-campus. The award is the same for self-supporting students as for dependent students. All students will be issued a refund check for aid that exceeds charges incurred on their student account. Every effort will be made to have refunds available during the first week of classes; however, this is contingent upon the student being registered for a minimum of 12 credits.
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Administration of Funds

Refund checks will not be available until students have registered for a minimum of 12 credits and University charges have been paid from the scholarship account (wait-listed courses are not included in the minimum requirement). Students should make alternate arrangements to purchase books or pay rent if necessary.

Each academic year, the Office of Student Financial Aid will notify students of the type(s) of scholarships they are receiving, and the amount disbursed from each account fund. For information regarding availability of refund checks, please refer to the second edition of the Fall Schedule of Classes, or refer to the Office of Student Financial Aid web site at http://www.financialaid.umd.edu/.
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Tax Liability

Please note that as a scholarship recipient, payments you receive for tuition and University-wide mandatory fees are tax free. Payments you receive for books, supplies, equipment, and other fees may be tax free if they are required of all students in a course. Payments received for room and board, including Resident Assistantships, are taxable income. This is a general statement of the tax rules. Your own tax liability may vary depending on your personal situation. Please refer to the Internal Revenue Service's (IRS) Publication 520, or consult tax or legal counsel for additional information. Publication 520 can be found on the IRS web site at http://www.irs.gov/.
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FAQs

Contact

Please direct any financial aid questions or concerns to:

Office of Student Financial Aid
0102 Lee Building
College Park, MD 20742
(301)314-9000
sfa-scholarships@umd.edu

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