by our College Data Analytics TeamFinancial aid in the form of loans, grants, work-study, and scholarships is one way colleges reduce the cost of attendance so most students can actually afford to attend.
However, some types of financial aid are definitely more desireable than others, and some students will receive more aid than others.Find out more by scrolling down the page.
University of Maryland - Baltimore County average financial aid offer for freshmen students is $9,694.00. Approximately 83% of incoming freshmen obtain financial assistance, with the majority being offered as grants and scholarships.
Financial aid helps reduce the cost, or the full retail price of the college. However, be aware that the only true college discount is scholarships & grants.
A student loan isn’t a genuine college price reduction, but rather an additional cost consideration. Discover how much student loan debt from University of Maryland - Baltimore County you could end up dealing with.
Institutional scholarships and grants refer to financial aid provided directly by a college or university to support students in covering their educational expenses. These awards can be either merit-based or need-based and do not require repayment. Merit-based institutional scholarships reward students who have demonstrated exceptional academic achievements, talents, or skills in specific areas. Such scholarships often take into account a student’s high school performance, standardized test scores, or extracurricular activities. On the other hand, need-based institutional grants are allocated to students who exhibit financial need. The amount awarded is usually determined by the student’s family’s financial circumstances and aims to cover the difference between the cost of attendance and the family’s capacity to pay. To assess eligibility for need-based grants, colleges and universities may use information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants play a crucial role in assisting students, as they can considerably lower the cost of college and make higher education more attainable.
The numbers below apply to scholarships and grants primarily provided by University of Maryland - Baltimore County.
65% of new students (1094 total) were given scholarships at University of Maryland - Baltimore County, averaging $6,588.00 per student. This puts it in the top 50th percentile among colleges and universities nationwide.
In addition to scholarships, 26% of freshman students (435 total) obtained federal grant aid, averaging $5,581.00 a piece.
The table below shows grant and scholarship distributions by income for first-year students getting any sort of federally-funded Title IV aid, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 10.64% | $17,432.00 |
| Income 30k-48k | 5.38% | $11,669.00 |
| Income 48k-75k | 5.79% | $5,118.00 |
| Income 75k-110k | 2.84% | $1,262.00 |
| Income 110k + | 4.73% | $546.00 |
The table above displays undergrads who are obtaining Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
1167 UMBC undergrads obtain grant aid (this is about 83% of the entire undergraduate student population). The average amount these students receive is $9,694.00.
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.
