A new need-based financial aid program will fully cover tuition and fees for in-state full time students eligible for Pell Grants at the University of Maryland, College Park.
The program, called the Terrapin Commitment, starts in January. Providing up to $20 million each year, it is the largest single-year investment in need-based scholarships in the university’s history.
University President Darryl Pines described the program as “one more measure” the administration is taking to ensure affordable education for Maryland residents.
“Every Maryland student deserves an equal opportunity to attend the state’s flagship university,” Pines said in a statement.
Jennifer King Rice, senior vice president and provost at the University of Maryland, told DCist/WAMU that the program would not just help students already at the university, but also attract more students who need financial aid.
“We need to focus on affordability, and make sure that access to the flagship campus of our state system is accessible to the many talented students we have across the state, regardless of their income,” Rice said.
In addition to qualifying for Pell Grants (available to students who display “exceptional financial need,” according to the Department of Education) and being in-state, students must be enrolled full-time per semester and maintain what the university considers satisfactory academic progress — requirements there include a minimum GPA of 2.0. They must also complete the Free Application for Federal Student Aid each year.
For eligible students who get financial aid through other sources that do not fully cover tuition and fees, the Terrapin Commitment program will pay the difference.
The program is expected to cover costs for more than 3,000 students in the first full academic year it rolls out, a university spokesperson told DCist/WAMU, and the number is expected to grow in coming years.
Associate Vice President of Enrollment Management Barbara Gill said the program will change the way the university can support low-income students.
“The Terrapin Commitment will help us continue to recruit and provide new pathways for the best and brightest students in the state, improve graduation rates and reduce student debt,” Gill said.
Other universities across the country this year have made efforts to expand financial aid to students. In September, Princeton University announced that it would be covering all tuition for students from families earning up to $100,000 per year. Williams College in Massachusetts also eliminated loans and work requirements from its student aid program, launching the nation’s first all-grant financial aid program this fall.
