The largest source of financial aid for undergraduate students is U. S. federal government programs. Award amounts vary by need level and enrollment status. The amount of the award varies depending on the availability of funds allocated by the Department of Education. UMUC is the lender. Repayment is made to UMUC and begins nine months after the student leaves the university or when the student's enrollment drops below half time.
Loan amounts vary based on grade level and dependency status.
For specific amounts and general repayment terms, see the UMUC Guide to Financial Aid. A federal loan program not based on need that is available to parents of dependent undergraduate students. Parents are eligible to borrow up to the cost of education minus other financial aid received by the student. The amount of the award varies according to financial need and availability of funds. Funds are paid on a monthly basis.