Grants and Loans
The following is a list of grants and loans available. Grants do not have to be repaid. Loans, however, must be repaid. For more information, contact the Office of Financial Aid.
Pell Grants
Sources: Federally Funded
Award: Variable ($200-4050 annually)
Criteria: Award amount is based on a federal formula according to need and enrollment status(full time: 12 or more credits; three quarter time: 9-11 credits; half-time:6-8 credits). Open to U.S. residents and permanent residents. Students must reapply each year.
Contact: Financial Aid Office
Supplemental Educational Opportunity Grant (SEOG)
Sources: Federally Funded
Award: Variable ($200-$2,000)
Criteria: Available to Maryland residents enrolled in degree-seeking programs. Award amounts are based on enrollment status, need, and availability of funds. Students must reapply each year.
Contact:Financial Aid Office
University Grants
Sources: Institutionally Funded
Award: Variable ($50-2,000)
Criteria: Degree seeking undergraduates. Amount varies according to enrollment status, need, and availability of funds. Students must reapply each year.
Contact: Financial Aid Office
The Perkins Loan Program
Criteria: This program is open to all undergrad and grad students who are US citizens or to those who are permanent residents.
Award: Award amounts vary on depending on the students need based federal formula and the availability of funds. Deferments and cancellations are available for those who qualify.
The Federal Direct Stafford Loan (Subsidized and Unsubsidized)
Source: Funds for this loan program are made available through the United States Department of Education.
Criteria: This program is open to all undergraduate and graduate students who are US citizens or to those who are permanent residents.
Award: Award amounts vary on depending on the students need based federal formula and the availability of funds. This loan must be repaid. First time borrowers are required to have loan counseling prior to school certification of the loan application. Subsidized loans are need-based with interest subsidies while the student is enrolled at least 1/2 time. Unsubsidized loans are not based on need, but interest begins to accrue as soon as the loan is disbursed. The Federal Direct Parent Loan For Undergraduate Students (FPLUS)
Source: Funds for this loan program are made available through the United States Department of Education.
Criteria: Applicants must be U.S. Citizens or permanent residents and the student must be in a degree program.
Award: Parents may borrow up to the cost of attendance for a full time student less any other financial assistance received. This loan is subject to credit approval by the U.S. Department of Education and repayment is the responsibility of the Parent. Federal Direct Additional Unsubsidized Loan Source: Funds for this loan program are made available through the United States Department of Education.
Criteria: This is a repayable loan for undergraduate and graduate students who are independent of their parents and/or for dependent students whose parents are denied the Federal Direct PLUS loan. Student must be a U.S. citizen or permanent resident enrolled in a degree seeking program.
Award: The maximum is $4000 per year in the freshman and sophomore years and $5000 in the junior and senior years, repayable six months after the student ceases to be enrolled at least half-time or graduates.
Note
The University of Maryland Eastern Shore is a 100% Direct Lending School. The Office of Student Financial Aid is unable to certify any loans from lending institutions in the Federal Family Education Loan Program (FFELP). The OSFA does provide information to students and parents about the availability of other alternative loans. However, we do suggest full utilization of the low interest federal loan programs prior to seeking alternative loan sources.