University of Maryland University College (UMUC) Financial Aid and Scholarships
Students Receiving Aid
30%
Total Aid Amount
$46.049M
Financial Aid Official Website
www.umuc.edu/students/aid/index.cfm
As many as 46% of the students at UMGC get some sort of financial aid, and the total amount of assistance/loans provided is more than $73,691,212 in a year. At UMGC, the total percentage of applicants who receive the Federal Grant stands at 32%. Meanwhile, 35% of the applicants receive the Student Grant and 11% are awarded the Institution Grant, while 32% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,054, the State Grant receivers and Institution Grant beneficiaries get $5,127 and $1,013, respectively. And, for the Pell Grant awardees, the average aid amount is $3,306. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At University of Maryland Global Campus, the percentage of candidates who opt to avail of student loans is around 23%.
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