President's Transfer Scholarship Program

Policy Statement

Description and Eligibility

The Scholarship is a merit award renewable for a maximum of four consecutive semesters, provided 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.

Approval for participation in Study Abroad or Co-Op programs, or any other exceptions must be obtained from your program advisor and forwarded to the Financial Aid Office. Please be advised that if for any reason you do not comply with program requirements, the scholarship may be canceled.

Receipt of More than One Award

This scholarship could affect other financial aid you might have. If this should be the case, the Office of Student Financial Aid will adjust your financial aid package. If adjustments are necessary, every effort will be made to maximize the amount of gift aid you receive. Should you have any questions regarding your financial aid package, please contact a financial aid counselor at (301) 314-9000.

Administration of Funds

This scholarship will be posted directly to your student account, one half each semester. Once the scholarship has been credited, any credit balance will automatically generate a refund. For information regarding availability of refund checks, please refer to the current semester's Schedule of Classes or contact the Student Financial Service Center at (301) 314-9000. If you have any questions regarding the status of your account, please contact the Financial Service Center at (301) 314-9000 or e-mail sfa-scholarships@umd.edu.

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 the course. Payments 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 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/.

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