Several educational funding options are available to students through the Office of University Student Financial Assistance. The main types of financial aid awards are loans, scholarships, and work-study.

Direct Loans 

FDLP/Direct Loans are low-interest loans available to help pay for college costs. With direct loans, you borrow directly from the federal government; your lender is the U.S. Department of Education.

Title VII Federal Student Loans 

Health Professions Student Loans and Nursing Student Loans are funded by Title VII of the Higher Education Act and are not considered private loans.

State Scholarships 

State scholarships are available to students who are classified as residents of Maryland by the Office of the Registrar. Students should apply for these scholarships in addition to filing a FAFSA by Feb. 28.

View a listing of state scholarships here.


Federal Work Study employment, through federal government funding, provides eligible students with the opportunity to work on or off campus and earn funds as an alternative to loan debt. Students must complete the Free Application for Federal Student Aid (FAFSA) no later than March 1 to qualify. Students can obtain positions on and off campus for work-study and non-work-study employment. 

Private and Alternative Loans 

Private and Alternative Student Loans are non-federal student loans offered by private institutions (such as banks or credit unions) that are intended to help students meet their education-related expenses.

Eligibility Requirements for Financial Aid 

All awards require that a student be enrolled in a degree-seeking program. Students enrolled in coursework-only or certificate-only programs are not eligible for any form of financial aid; federal, state, University, or private/alternative loans.

All federal programs and most state and University programs, as well as some private/alternative loans, require that a student be enrolled in at least half-time status in any semester in which they wish to receive financial aid. The University of Maryland, Baltimore defines 6 credits as at least half-time.

Default Rate 
Listed is the UMB cohort default rate which is below the national average of 7.3%


Cohort Fiscal Year

Official Default Rate

Number of Borrowers in Default

Number of Borrowers in Repayment

Enrollment Figures

Percentage Calculation




















ENROLLMENT NOTE: To provide context for the Cohort Default Rate (CDR) data, we include Enrollment Figures (students enrolled at any time during the year) and the corresponding Percentage Calculation (borrowers entering repayment divided by that enrollment figure). There is no direct relationship between the timing of when a borrower entered repayment and any particular enrollment year; we have chosen to use the academic year ending on the 30th of June before the beginning of the cohort year.


Cohort Default Rate (CDR) data is not displayed when Number of Borrowers in Repayment (number of borrowers entering repayment in cohort) includes 10 or few borrowers.