Financial Information
Financial Assistance
The School of Medicine's financial aid program is available to medical students who demonstrate financial need. Aid programs are centrally administered by the Office of Student Financial Aid, located at 111 S. Greene Street, Suite 104. To qualify for aid, students must apply annually and continue to meet certain eligibility requirements. To apply for financial aid, complete a Free Application for Federal Student Aid (FAFSA) and send it to the Federal Processing Center or apply online at www.fafsa.ed.gov. To obtain an application, call or visit the Office of Student Financial Aid:
Student Financial Aid
University of Maryland, Baltimore
111 S. Greene Street
Suite 104
Baltimore, Maryland 21201
(410) 706-7347
aidtalk@umaryland.edu
Aid packages often include a combination of loans, grants, scholarships and part-time employment designed to meet a student's needs. In addition to school resources, outside funding agencies make financial assistance available to qualified medical students. Priority filing date is March 15.
Student assistance is awarded on the basis of demonstrated financial need. Eligibility for financial aid is dependent upon the student maintaining satisfactory academic progress. When determining the amount to be awarded, the following are considered: (1) income, assets and resources of the student; (2) support available to the student from non-university sources; and (3) the costs reasonably necessary for full-time attendance at the school. Some programs also consider income, assets and resources of the student's parents.
University and Medical School Funds
University Grants: Need-based grants awarded by Financial Aid Office.
Dean's Scholarship: Funds provided by the School are awarded primarily to non-resident students.
Medical Alumni Association: Interest-free loans are available to students on the basis of financial need.
Private and Endowment Funds: From bequests and private donations, the School of Medicine has established private and endowment accounts to provide fellowships, scholarships and loans for students on the basis of their academic achievement and financial need. The amounts of these fellowships, scholarships and loans vary and are awarded on an annual basis in accordance with school policy.
The availability of support from each of the funds listed below is dependent upon the income generated. Moreover, since many of the funds are governed by specific provisions set forth by the donors, awards must be made accordingly.
SCHOLARSHIPS
- APPM Auxiliary Scholarship
- Balder Scholarship Fund
- James E. Bond Memorial Fund
- Dr. Robert W. Buxton Scholarship
- Class of 1969 Scholarship Fund
- Percy M. Chaimson Scholarship Fund
- Israel and Cecilia E. Cohen Scholarship
- Dr. William H. Crim Scholarship
- Isaac C. Dickson Scholarship Fund
- Dodge Fund
- Marcia Thomas Duncan Medical Scholarship
- A. Lee Ellis Scholarship
- Arthur Wright Erskine Scholarship
- Dr. John E. Esnard Endowment
- Sharon Fox Scholarship
- Samuel Leon Frank Scholarship
- Milton Ginsberg Scholarship Fund
- Harry Gudelsky Fund
- Horace Bruce Hetrick Scholarship
- Margaret A. Hicks Scholarship
- Charles M. Hitchcock Scholarship
- Donald J. Hobart Scholarship
- G. D. Jackson Scholarship
- Leo Karlinski Scholarship
- Elsie Larrimore Scholarship
- Emmett and Ruth Light Scholarship
- Dr. Alex J. and Clara Maysels Scholarship
- Dr. James N. McCosh, Jr. Memorial Scholarship
- Nataro Family Scholarship Fund
- Frederick and Anne Nichols and Edwina Justin Fund
- Henry Rolando Scholarship Fund
- Morton and Elaine Schwartz Scholarship
- David Street Memorial Scholarship
- Dr. Charles Robert Thomas
- Michael Vinciquerra Trust Scholarship
- Clarence and Geneva Warfield Scholarship
- Walter N. Winters Scholarship
- Randolph Winslow Scholarship
- W. R. Winslow Residency Trust
- Henry Zoller, Jr. Scholarship
LOAN FUNDS
- Balder Foundation Fund
- Class of 1916 Memorial Loan Fund
- Class of 1935 Student Loan Fund
- Jay W. Eaton Loan Fund
- Dr. Wetherbee Fort Loan Fund
- Gold-Steinberg Memorial Loan Fund
- Isaac Gutman Loan Fund
- Sean Peter Houlihan Memorial Fund
- Robert Wood Johnson Foundation Loan Fund
- W.K. Kellogg Loan Fund
- William and Sarah Kraut Loan Fund
- Michael H. Lipman Loan Fund
- Joseph Lipskey Loan Fund
- Jacob B. and Shirley K. Mandel Loan
- Drs. Charles W. and Kathleen R. McGrady Student Loan Fund
- Medical Alumni Association Student Loan Fund
- Edward and Lina Meirhoff Loan Fund
- Dr. William B. Rogers Student Loan Fund
- Jessie Smith Noyes Loan Fund
- Charles Pfizer Loan Fund
- Dr. F. Mason Sones, Jr. Memorial Student Loan Fund
- Webster M. Strayer Loan Fund
- Jimmie Swartz Foundation Loan Fund
- Jay Whitman Memorial Student Loan Fund
Outside Sources
The Central Scholarship Bureau offers interest-free loans in amounts up to $3,500 per year (maximum total of $8,000) to qualified Baltimore City and Baltimore County residents. For more information contact:
Central Scholarship Bureau
c/o #108 Bristol House Apartments
4001 Clarks Lane
Baltimore, Maryland 21215
(410) 358-8668
Primary Care Loans may equal tuition plus $2,500 annually. Interest accrual at five percent and principal payments are deferred until one year after graduation at which time both interest and principal payments begin. Both interest and principal may also be deferred for internships and residencies and for up to three years of service in the uniformed services (including National Health Service Corps) and the Peace Corps. Interest accrues from beginning of repayment period. Recipients must enter and complete a residency training program in primary health care no later than four years after graduation from the institution. Recipients must also practice primary health care until the loan is repaid in full and provide annual certification that they are practicing primary health care. Primary health care is defined as family medicine, general internal medicine, general pediatrics, preventive medicine or osteopathic general practice.
Maryland residents may apply for Maryland State Scholarships by completing the FAFSA application. All applications must be received by March 1. Senatorial and House of Delegates awards are available. Students may also apply for the Professional School Scholarship. Applications are provided through the Financial Aid Office.
National Medical Fellowships are need-based awards to minority medical students. For further information and applications write:
National Medical Fellowships
250 West 57th Street
New York, New York 10019
Federal Work-Study Program provides jobs for students who need financial aid and who choose to earn part of their educational expenses. Jobs are arranged either on or off campus with a public or private nonprofit agency. Eligible students may be employed for as many as 20 hours per week. To be eligible for Federal Work-Study a student must apply for financial aid and demonstrate financial need.
Federal Perkins Loans are granted to students by the University. Students are awarded from $2,000 - $6,000 annually, not to exceed the aggregate legal loan maximum of $30,000 (including undergraduate borrowing). The annual interest rate is five percent. Interest does not accrue until repayment begins.
Federal Subsidized Stafford Loans (formerly Guaranteed Student Loans) are made by private lenders. The annual legal loan maximum for graduate students is $8,500. The aggregate loan limit is $65,500 including graduate and undergraduate debt. The interest rate for new borrowers will be variable, but not higher than 8.25 percent. Interest does not accrue until repayment begins. Current in-school interest rate is 2.77 percent.
Federal Unsubsidized Stafford Loans are made by private lenders. Medical students may borrow up to $30,000 a year with an aggregate limit of $179,000. The interest rate is variable and will be adjusted annually. The current rate is 2.77 percent. Interest will accrue on the loan from the date of disbursement and may be paid quarterly or annually, or may be capitalized.
Alternative Loans are designed to meet the remaining student's eligibility after both Federal Subsidized and Unsubsidized Stafford Loans have been borrowed. Alternative loans are credit based. Students are strongly encouraged not to borrow this loan unless absolutely necessary.
Federal regulations governing financial aid are subject to change, and it is suggested that interested applicants contact the Financial Aid Office to ensure having the most recent information.
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