Financial Service Center

What do I need to know?

It is still possible to receive Federal Financial Assistance.

Students should be aware of

the financial aid package.

Packages along with other important info can be viewed on-line.

Student Budget 2013-2014 IN – STATE On-campus W/Relatives/Parents

Tuition & Fee’s $ 9,161.00 $ 9,161.00Room $ 6,153.00 $ 1,110.00Board $ 4,127.00 $ 2,120.00Personal Expenses $ 3,162.00 $ 3,824.00Books & Supplies $ 1,130.00 $ 1,130.00TOTAL $23,733.00 $17,345.00

OUT- OF – STATE On-campusW/Relatives/ParentsTuition & Fee’s $ 28,347.00 $ 28,347.00Room $ 6,153.00 $ 1,110.00Board $ 4,127.00 $ 2,120.00Personal Expenses $ 3,162.00 $ 3,824.00Books & Supplies $ 1,130.00 $ 1,130.00TOTAL $42,919.00 $36,531.00

Sources of Paying for College

Direct Stafford Subsidized Loan:- Need-based- Interest does not accrue- 6.8% Fixed Interest Rate- Repayment begins 6 (six) month after graduation or cease of

enrollment

Direct Stafford Unsubsidized Loan:- Non-need based- Interest accrues on quarterly basis- 6.8% Fixed Interest Rate- Repayment begins 6 (six) month after graduation or cease of enrollment

Alternative Sources of Paying for College Direct Parent Plus Loan:

- Parents are solely responsible.- Not guaranteed, based on the Borrower’s credit history.- 7.9% fixed Interest rate and repayment period begins 60 days

after final disbursement.- Process is initiated through the University

Alternative Loan:- Student is responsible unless there is a cosigner- Interest rate and repayment terms are specified by the lender.- Process is initiated with the lender directly.

Terp Payment Plan:- 10 month plan (enrollment fee $50.00)- 8 month plan (enrollment fee $80.00) - 4 or 5 month plans (enrollment fee $45.00)

Things to know Books:

-Be prepared to pay out of pocket. No vouchers

Stafford Loans:-Entrance Interview-Promissory Note

Refunds:-If all charges are paid, a refund can be issued.

Your University of Maryland Billing Statement is available

Your current University of Maryland Bill is now available for online viewing. You can conveniently view your monthly billing statement at: http://www.testudo.umd.edu/Financials.html

 

Allow others to log in, view and pay your bill by creating a separate PIN for them via http://www.testudo.umd.edu/ParentAccess.html You may also add up to three additional emails to receive bill information from "View Monthly Billing Statement" link. Thank YouUniversity of Maryland Financial Service Center

For Your Information

Current information may be viewed on Testudo at www.testudo.umd.edu. Click on “Parent Access”

Student Bills: Will be issued after registration or other activity and are available at www.umd.edu/bursar after July 25th.

Sign up to receive your electronic bill – no paper bills are mailed. Fall 2013 invoices are due August 20th. Payments can be made online at: www.umd.edu/bursar

Financial ServiceCenter Bursar’s Office

www.umd.edu/bursar

Financial Aid Officewww.financialaid.umd.edu

1135 Lee Building 8:30 am – 4:30 pm M - F

Local number:(301) 314 - 9000

Toll Free Number:1-888 - 313 - 2404