Financial Aid

Every student admitted to the Ph.D. Program will receive full financial support in the form of a graduate assistantship or fellowship. The financial support packages range in amounts between $14,355 and $21,355. Base stipends of $14,355 are often supplemented with an additional $7,000 in Fellowship Research funds. Support packages also include tuition remission and health benefits.

Graduate Assistants (GAs) are appointed by the chairs of the various departments within the Business School. GA work assignments include research assistance, grading, conducting discussion sections, and offering undergraduate classes under faculty supervision. All GA appointments carry UM employee health benefits. The appointments are as follows (2007-2008 stipend levels):

10-Month Stipend Tuition Remission Work Requirement

    Stipend Remission of tuition Work hours per week
Full GA Step IIA 14,355.00 10 20
  Step IIB 14,929.00 10 20
  Step III 15,821.00 10 20
Half GA Step II 6,762.50 5 10
  Step III 7,166.00 5 10


Explanation of the steps is as follows:

Step IIA New incoming first year Ph.D. students.
Step IIB Graduate student in good standing who possesses a master's degree or who has one year of graduate research experience (for a Research Assistantship) or one year of teaching experience (for a Teaching Assistantship) or one year as a Graduate Fellow.
Step III Graduate student in good standing who has been formally advanced to candidacy for the Ph.D. degree.


In addition to the above, the program regularly selects outstanding candidates for fellowships. The fellowships have slightly higher stipends than full GA appointments, and receive 12 hours of tuition remission, in addition to carrying health benefits.

The Smith School Ph.D. Program is also now consistently offering additional fellowships as part of the above GAs in order to make the financial stipend more competitive. Approximately 80% of admitted students receive an additional fellowship of $7,000 or more, bringing the average total support package up to $21,355. Advanced Ph.D. students may also be nominated for Graduate School Dissertation Fellowships. Ph.D. students at the University of Maryland are also encouraged to compete for national awards such as those offered by AACSB, GMAC, AAUW, and private foundations. Some advanced Ph.D. students are also appointed as part-time instructors in the Business School, and compensated accordingly.