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Financial Service Center

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.

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Financial Service Center

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  1. Financial Service Center

  2. 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.

  3. Student Budget 2013-2014 • IN – STATE On-campus W/Relatives/Parents Tuition & Fee’s $ 9,161.00 $ 9,161.00 Room $ 6,153.00 $ 1,110.00 Board $ 4,127.00 $ 2,120.00 Personal Expenses $ 3,162.00 $ 3,824.00 Books & Supplies $ 1,130.00$ 1,130.00 TOTAL $23,733.00 $17,345.00 • OUT- OF – STATE On-campus W/Relatives/Parents Tuition & Fee’s $ 28,347.00 $ 28,347.00 Room $ 6,153.00 $ 1,110.00 Board $ 4,127.00 $ 2,120.00 Personal Expenses $ 3,162.00 $ 3,824.00 Books & Supplies $ 1,130.00 $ 1,130.00 TOTAL $42,919.00 $36,531.00

  4. 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

  5. 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)

  6. 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.

  7. 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.htmlYou may also add up to three additional emails to receive bill information from "View Monthly Billing Statement" link. Thank You University of Maryland Financial Service Center

  8. 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

  9. Financial ServiceCenter • Bursar’s Office www.umd.edu/bursar • Financial Aid Office www.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

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