by our College Data Analytics TeamA large number of students will never be charged the complete price tag of a school. Rather, they are presented a financial aid deal that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The sum total of attendance at University of Maryland Eastern Shore can sound overwhelming, but bear in mind that many students get some type of financial aid.
What financial assistance options will UMES offer, and what will you qualify for? Read on for more information. Read on to find out how much school funding will be available to you.
How much aid you qualify for depends largely on your family’s financial circumstances. Read on to get a sense of the financial assistance available at University of Maryland Eastern Shore.
Financial 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 aid are more desirable than others, and some students will receive more than others.
At University of Maryland Eastern Shore, 99% of new full-time first-years were awarded at least some aid approximately 709 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 98% | $12,728 |
| Institutional grants & scholarships | 93% | $5,884 |
| Federal Pell grants | 66% | $5,952 |
| State/local grants | 35% | $5,663 |
| Federal student loans | 59% | $5,665 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At this school, about 86% of undergraduates were awarded grant or scholarship aid averaging $10,907 (for some 1912 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 86% | $10,907 |
| Federal Pell grants | 56% | $5,766 |
| Federal student loans | 52% | $6,319 |
For on-campus title-IV students, average grant aid came to $12,603.
How much a family pays depends heavily on income, because most aid is awarded on the basis of financial need.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $11,098 |
| $30,001 – $75,000 | $13,633 |
| Over $75,000 | $20,651 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
The net price represents the average annual cost a title-IV-receiving student pays after grant aid is subtracted from the full cost of attendance.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $13,338 |
| Off-campus title-IV students | $14,035 |
For a customized cost estimate, visit UMES’s online cost calculator: www.umes.edu/NetPriceCalculator/npcalc.htm.
The middle student in the debt distribution at UMES owes $18,500 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $18,500 |
| Median federal debt (graduates only) | $27,000 |
| Typical 10-year monthly payment (graduates) | $286.24/mo |
Under a standard ten-year plan, the median graduate’s monthly payment lands near the figure above.
Percentiles reveal the spread — half of all borrowers fall between the 25th and 75th percentiles. The four reference points below map the debt distribution at UMES.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,000 |
| 25th percentile | $5,500 |
| 75th percentile | $29,000 |
| 90th percentile (highest-debt students) | $39,153 |
Median debt varies by family income, by first-generation status, and by dependency status.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $18,750 |
| Middle income | $19,500 |
| High income | $15,540 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $18,283 |
| Continuing-generation students | $18,825 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $18,000 |
| Independent students | $21,750 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. UMES.
The Stafford loan program is the largest source of federal direct loans to undergraduates. These figures summarize annual Stafford program activity at UMES:
| Metric | Value |
|---|---|
| Stafford loan recipients | 19126 |
| Total Stafford loan amount | $468,712,421 |
Veterans and active-duty service members may qualify for the Post-9/11 GI Bill or DoD Tuition Assistance.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 31 |
| Total GI Bill amount | $232,927 |
| Average GI Bill amount per recipient | $7,514 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 1 |
| Total DoD amount | $3,495 |
| Average DoD amount per recipient | $3,495 |
References
More about our data sources and methodologies.