Terrapin Fellow – Spring
Congratulations on your admission to the Robert H. Smith School of Business! We were very impressed by your application. On behalf of Dean Prabhudev Konana, we are happy to offer you a Terrapin Fellow award and welcome you to the Smith community! We are looking forward to seeing you here on campus.
Please see below for the details of your award.
1) Financial Award
The financial award listed in your admission letter will be evenly disbursed across the Spring 2026 and Fall 2026 semesters. Please note that the financial award may be posted as a scholarship or tuition reduction.
| Spring 2026 | Fall 2026 | Total |
|---|---|---|
| 50% of award amount | 50% of award amount | 100% of award amount |
2) Graduate Assistantship for the 2026 Calendar Year
Graduate Assistantship for In-State Students
| Spring 2026 | Fall 2026 | Calculation Details | How will you see this benefit? | |
|---|---|---|---|---|
| Tuition Remission | $4,390 | $4,390 | Up to 10 credits of tuition remission at the graduate level rate ($878 per credit) per year | Posted on your student account automatically |
| Stipend | $7,011.50 | $7,011.50 | 9.5-month appointment with a total stipend estimated at $14,023 | Paid via bi-weekly paychecks |
Total Value (In-State Students): $22,803
Graduate Assistants (GAs) have the option to purchase subsidized health insurance.
GAs receive these benefits in exchange for 360 hours of work per academic year (an average of 12 hours a week).
Graduate Assistantship for Out-of-State Students
| Spring 2026 | Fall 2026 | Calculation Details | How will you see this benefit? | |
|---|---|---|---|---|
| Tuition Remission | $4,390 | $4,390 | Up to 10 credits of tuition remission at the graduate level rate ($878 per credit) per year | Posted on your student account automatically |
| Stipend | $7,011.50 | $7,011.50 | 9.5-month appointment with a total stipend estimated at $14,023 | Paid via bi-weekly paychecks |
Out-of-State Savings (charged in-state tuition)
| $7,260.00
| $7,260.00
| Out-of-state tuition per credit ($2,115) minus in-state ($1,631) is a savings of about $484 per credit. Based on 30 credits completed in the year.
| Savings when you are charged in-state tuition on your student account instead of out-of-state tuition
|
Total Value (Out-of-State Students): $37,323
Graduate Assistants (GAs) have the option to purchase subsidized health insurance.
Graduate Assistants receive these benefits in exchange for 360 hours of work per academic year (an average of 12 hours a week).
Graduate Assistantship for Out-of-State Students
| Spring 2026 | Fall 2026 | Calculation Details | How will you see this benefit? | |
|---|---|---|---|---|
| Tuition Remission | $4,390 | $4,390 | Up to 10 credits of tuition remission at the graduate level rate ($878 per credit) per year | Posted on your student account automatically |
| Stipend | $7,011.50 | $7,011.50 | 9.5-month appointment with a total stipend estimated at $14,023 | Paid via bi-weekly paychecks |
Out-of-State Savings (charged in-state tuition)
| $7,260.00
| $7,260.00
| Out-of-state tuition per credit ($2,115) minus in-state ($1,631) is a savings of about $484 per credit. Based on 30 credits completed in the year.
| Savings when you are charged in-state tuition on your student account instead of out-of-state tuition
|
Total Value (Out-of-State Students): $36,048
Graduate Assistants (GAs) have the option to purchase subsidized health insurance.
Graduate Assistants receive these benefits in exchange for 360 hours of work per academic year (an average of 12 hours a week).
Are you ready to accept your offer of admission to UMD Smith and join our community of fearless leaders? Login to your application portal to confirm your decision. Make sure to complete all of the steps listed in your admission letter, including paying your deposits on time and completing the Checklist for New Students. Communication may be sent to your application email address or your UMD email address, so continue to check both for important updates.
Thank You Note Information:
You may be required to complete a thank-you note in Scholarship Universe (SU). Please ensure that you submit your thank-you note by the specified deadline. Your scholarship will not be disbursed to your student account until you have fulfilled the thank-you note requirement, and not meeting this requirement could lead to the cancellation of your scholarship. Utilize the link below to assist you in navigating the process of completing your thank-you note requirement on the SU platform.
Scholarship Thank You Notes | Office of Student Financial Aid
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Graduate Assistants receive the benefits listed in exchange for 360 hours of work per academic year (an average of 12 hours a week).
To keep your award, you must maintain at least a 3.0 GPA, continue to meet assigned expectations and responsibilities and remain in good academic standing and student conduct.
Award Value and Residency
Changes to your Maryland residency status (in-state vs. out-of-state) will impact the value of your financial award.
Please note that these tuition rates are for the 2025-2026 academic year, and the value is subject to change based on tuition rates for the 2026-2027 academic year. The Board of Regents will confirm tuition rates for the 2026-2027 academic year in July 2026. Visit our admissions page to access current tuition rates.
If you decline or lose the Graduate Assistantship portion of the award package, you will not be eligible for any of the GA benefits which include the stipend, tuition remission and the difference between the in-state and out-of-state tuition rates.
Timeframe
The award is only valid for students starting in the Spring 2026 semester. If you do not start the program in Spring 2026, your award may be adjusted.
The Graduate Assistantship award is valid only for the Spring and Fall 2026 semesters. Students will have the opportunity to apply for Graduate Assistant positions for future semesters. A Graduate Assistantship is not guaranteed for any other semester.
Stipend
Your stipend will be paid out in bi-weekly paychecks. Please keep in mind your stipend is subject to taxes. Taxes and any applicable health insurance premiums will be deducted from your paycheck.
If your employment contract is shorter than 9.5 months, your stipend and benefits may be adjusted accordingly.
Insurance Benefits
Insurance benefit coverage for all plans will be effective on the first day of the month following your date of hire. You will receive an email from the Employee Benefits Division that will give you access to enroll for benefits coverage. The email notification can take up to 30 days from your date of hire to be sent to you.
The normal processing time for online benefits requests can take between 30-60 days from your hire date for your benefits to become active. Once the enrollment process is completed, you will be required to pay a mandatory retroactive payment of the premiums for the pay periods in which you did not have a payroll deduction, back to the effective date of coverage.
Please contact the UHR Office of Employee Benefits for more information about this process. For continuous insurance coverage to the end of the month in which you are hired, please make arrangements with your previous employer or health insurance carrier. For example, if the anticipated date of hire for GAs starting in Spring 2026 is 1/27/26, insurance coverage will be effective 2/1/2026.
If you are receiving any other financial tuition benefits (employer benefits, veteran’s benefits, external scholarships, etc.) please contact our Smith Financials team at smithfinancials@umd.edu as this award may impact your overall financial situation.
Should you have any questions, please contact the Admissions Office at mastersadmit@umd.edu.