by our College Data Analytics TeamThe total cost of attendance at University of Maryland - College Park can seem overwhelming, but remember that the majority of students receive some sort of financial assistance. This could be in the form of scholarships, grants, work-study, or loans.
Curious about the financial aid opportunities at UMCP and what you may be eligible for? Explore the answers here.
$9,799.00 is the typical University of Maryland - College Park’s first year financial aid package. Approximately 67% of incoming freshmen obtain financial assistance, with the majority being offered as grants and scholarships.
Financial aid contains loans, grants, and scholarships. But college loans need to be repaid, thus they are not a real college discount.
Uneasy about the debt that may be included in your financial aid plan? Find the average amount of debt per student at University of Maryland - College Park.
Financial awards given by a college or university to its students, known as institutional scholarships and grants, help to offset the cost of tuition and other education-related expenses. These awards fall into two categories: merit-based and need-based, and they do not need to be paid back. Merit-based institutional scholarships are granted to students who have shown outstanding academic accomplishments, special talents, or abilities in a particular field. Factors such as high school performance, standardized test results, or involvement in extracurricular activities often contribute to these scholarship decisions. Conversely, need-based institutional grants cater to students who demonstrate financial need. The awarded amount is typically based on the student’s family’s financial standing and is intended to cover the difference between the cost of attendance and the family’s ability to contribute. Colleges and universities might use data from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms to determine a student’s eligibility for need-based grants. Institutional scholarships and grants are a vital source of financial support for students, as they can significantly reduce the cost of attending college and help make higher education more accessible.
The numbers below apply to scholarships and grants primarily provided by University of Maryland - College Park.
43% of incoming freshmen (2286 total) were awarded scholarships at University of Maryland - College Park, averaging $8,012.00 a piece. This puts it in the top 50th percentile among colleges and universities nationwide.
As well as scholarships, 21% of first-year students (1120 total) got a federal grant, for about $4,506.00 per person.
Amount of Financial Assistance Per Income Level
The table following demonstrates grant and scholarship distributions by income level for freshmen getting any sort of federally-funded Title IV aid, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 5.44% | $21,276.00 |
| Income 30k-48k | 3.79% | $15,776.00 |
| Income 48k-75k | 3.85% | $9,983.00 |
| Income 75k-110k | 2.31% | $4,128.00 |
| Income 110k + | 3.55% | $1,342.00 |
The table above shows students who are obtaining Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
Of the 5326 undergraduate students at University of Maryland - College Park around 67% (2832 total) receive some form of grant aid. The typical amount awarded was $9,799.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.