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interest rate of 8.5 percent in the FFEL SM program and 7.9 percent in the Direct Loan Program.
Applicants for these loans are required to complete the Free Application for Federal Student
Aid (FAFSA SM ). They also must have applied for their annual loan maximum eligibility under the
Federal Subsidized and Unsubsidized Stafford Loan Program before applying for a
Graduate/Professional PLUS loan.
Loan amounts vary from one student to the next and are based on whether a student is
in-state vs. out of state, and the amount of loans being awarded through the Graduate
or Professional Loan and the Health Professions Student Loan.
Graduate or Professional and PLUS Loans for Graduate and Professional Degree Students information
was obtained from the U.S. Department of Education and Federal Student Aid Website
http://www.fafsa.ed.gov/. The Health Professions Student Loan information was obtained from the U.S.
Department of Health and Human Services, Bureau of Health Professions Website
http://bhpr.hrsa.gov/dsa/hpsl.htm.
State Grant/Scholarship Programs
Applicants wishing information on state grant/scholarship programs should write directly to the
Department of Higher Education in the state of their legal residence.
Private Loans
Several commercial banks have loan programs that will provide substantial funds toward tuition
and living expenses. Private loan applications are available in the Office of Student Financial
Aid.
Student Employment Program
Employment is another funding option for students who need assistance with educational
expenses. Employment opportunities available at UMES include:
Federal Work-Study (FWS)
Federal Work Study (FWS) is a federal funded program for financial assistance. The primary
function is to provide part-time employment opportunities for students who are in need of
funds to attend an institution of higher education. It is classified as one of the self-help
programs. Self help program is designed for student to earn money allocated to them thereby
contributing to the cost of their education. FWS is often awarded to students, in conjunction
with other forms of financial aid.
Various departments on campus, as well as, off campus locations employ FWS students.
Students must complete a Free Application for Federal Student Aid (FAFSA) and meet the
March 1 st deadline. Funds for FWS are awarded on a first come, first served bases based on
financial need.
Finding a Position
Once you have been awarded FWS, the Federal Workstudy Coordinator will assign you to an
available position on campus. Assignments are given to FWS recipients on the first day of class
of the Fall and Spring semesters.
Begin Work
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