Financial Aid FAQ

What is the link to Maryland's Office of Student Financial Aid for MBA students?
http://www.financialaid.umd.edu/MBA

Are there loans for domestic students?
If you are a United States citizen or a permanent resident of the United States and you are interested in applying for student loans, you must complete a Free Application for Federal Student Aid (FAFSA) form.  Click here to access this form online.  For further information, please refer to the information about the awarding process on the Office of Student Financial Aid website.


Are international students eligible for financial loans?
International students holding the following visas are not eligible for any federal, state, or institutional loans:

• Student Visas (F1 and F2)
• Exchange Visitor Visas (J1 and J2)
• G-Series Visas (international organizations)
• Non-citizens with only a Notice of Approval
• Permanent Residents (I-171 or I-464)
• Non-citizens with only Family Unity Status (Form I-797)
• Non-citizens with only I-688A or I-688B Cards

However, the following private lending institutions offer educational loans to international students. The student borrower must obtain credit worthy loan cosigners who are US citizens or permanent residents:

• Total Higher Education: 1-800-366-5626
• Gate Family Loan: 1-800-895-GATE
• Crestar E-Series Loan: 1-888-890-0062
• Sallie Mae Signature Loan: 1-800-239-4269
• CitiAssist Loan: 1-800-692-8200
• TERI Loan: 1-800-255-TERI

Are there need based Awards?
The Office of Student Financial Aid at the University of Maryland at College Park offers aid in the form Stafford Loans College Work Study, to students showing financial need as determined by a completed Free Application for Federal Student Aid (FAFSA). The FAFSA is available at most colleges and universities throughout the country and online at http://www.fafsa.ed.gov.

• The Federal Work-Study Program offers employment opportunities for students who demonstrate sufficient financial need.
• There is an enrollment requirement to be eligibility for Stafford loans for graduate students, information on this can be found at http://www.financialaid.umd.edu/MBA.
• It is to students' benefit to complete the FAFSA as early in the calendar year as possible so that everything can be set up to pay out prior to the start of classes.
• Processing of this form requires approximately four weeks.

For more information about these programs and others, please contact the Office of Student Financial Aid.


How can I find out more about merit-based awards?
Click here.


What other type of financial resources are there?
 The Consortium of Universities of the Washington Metropolitan Area and The Economic Club of Washington offer two $5,000 scholarships to Washington DC area students who will enroll in the fall in a business or economics graduate program at a Consortium institution.  For complete details, contact the Consortium of Universities of the Washington Metropolitan Area or The Economic Club of Washington.

Your Maryland State Senator and up to three Maryland State Delegates in your district may award scholarships for as much as $2,000 per year.   Applicants must show financial need and must be residents of Maryland.  Each senator and delegate establishes the final criteria to select recipients.  Applicants must complete and mail the FAFSA to the federal processor by March 1.   Some senators and delegates ask the State Scholarship Administration to make awards for them.  If your senator or delegate make awards themselves, you should also contact him or her for further instructions on how to apply.  The State Scholarship Administration can provide a list of all state legislators.