2011-2012 Banneker/Key Scholarship Program

Policy Statement

Description and Eligibility

The Banneker/Key Scholarship is awarded to selected undergraduate 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 on or off-campus during the winter and summer terms to make up any necessary credits or may take courses to bring their cumulative GPA up (on-campus only). 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. Banneker/Key Scholarship recipients who graduate from their undergraduate program early cannot receive the unused portion of their scholarship money toward graduate school or any graduate portion of a combined Bachelor/Master’s program.

Banneker/Key Budget

The maximum annual amount awarded under the Full Banneker/Key Scholarship program shall not exceed the total of the University of Maryland cost of tuition, tuition associated-mandatory fees, on-campus housing (standard room), board (Campus Point Regular) plan, and book allowance. Should you choose a more costly Campus Plus meal plan, or a housing option (on or off-campus) where costs exceed those of the standard on-campus room charge, as listed below, you must personally meet the additional cost. The scholarship does not include miscellaneous fees charged by the University to the student (e.g. 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 fees. Please also note that the Banneker/Key Scholarship can not be increased to cover the cost of required departmental fees (i.e. Applied Musician Fee, Architecture Fees, and Journalism Mandatory Fees).

The 2011-2012 Full Banneker-Key scholarship value for undergraduate residents and non-residents is broken down as follows:

*Mandatory Fees include costs associated with maintaining and providing services related to Recreation, Shuttle Buses, the Student Union, Undergraduate Student Activities, Clean Energy, Athletics, the Cultural Center, the Performing Arts Center, Auxiliary and Facilities, and Technology as described in the online Schedule of Classes (www.testudo.umd.edu).

** Starting with incoming students for the 2009/2010 academic year the Banneker/Key scholarship will also cover the cost of freshman orientation for $160. Note: the B/K scholarship will not cover costs associated with the parent orientation.

The 2011-2012 Partial Banneker-Key scholarship value for undergraduate residents and non-residents is broken down as follows:

*Non-resident partial Banneker/Key amount is determined by date when the student entered into college.

Receipt of More Than One Award

Should you receive assistance from other scholarships or sources of aid (i.e., Maryland Distinguished Scholarship, Federal Pell Grant, private scholarships), you will be entitled to receive up to the amount of Educational Expenses for the 2011-2012 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 reduced. Please note: Banneker/Key Scholars who serve as Resident Assistants in 2011-12 will retain their full B/K scholarship benefits, including the room and board portions of the scholarship. In 2012-13, Banneker/Key scholars who also serve as Resident Assistants will have room and board charges offset from their budget.

The Educational Expenses include both direct and indirect costs that students incur while attending college, and are defined in 2011-2012 as including tuition, fees, room, board, books, and personal expenses. The amount of funds you can receive above your Banneker/Key scholarship is as follows:

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 the cost of attendance as outlined above.

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. 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.

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 current Schedule of Class book, or refer to the Office of Student Financial Aid web site at www.financialaid.umd.edu.

Withdrawals

Students that fully withdraw and receive a refund for tuition, mandatory fees, room, or board may have their scholarship adjusted during the semester of the withdrawal. Students who partially withdraw (drop a class with a W) will not receive a scholarship adjustment during the semester of the partial withdrawal. Note: To maintain scholarship eligibility students that partially or fully withdraw from the fall/spring semester(s) are still required to successfully complete 24 credits per academic year.

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 cancelled.

FAFSA

The Office of Student Financial Aid is strongly suggesting that you complete the Free Application for Federal Student Aid (FAFSA) if you have not already done so. You may visit http://www.fafsa.ed.gov to complete the FAFSA.

Tax Liability

Please note that as a scholarship recipient, scholarship and grant funding that you receive for tuition and University-wide mandatory fees are tax free. Scholarship money that you receive for books, supplies, equipment, and other fees may be tax free if they are required of all students in the course. Scholarship money received for room and board 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 970, or consult tax or legal counsel for additional information. Publication 970 can be found on the IRS web site at http://www.irs.gov/.

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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