Financing Your Education

Merit Based Awards

Numerous financial aid options exist for students wishing to pursue an MBA at the Smith School. There are many fellowships, scholarships, assistantship opportunities, need-based awards and private loans available. In order for students be automatically considered for merit scholarships they must apply by December 15, 2016 (international students) or January 15, 2017 (domestic students). No separate application is needed. Merit based awards and graduate assistantships are open to Full Time MBA students only.

Merit Based Awards

The Smith School of Business awards scholarships based on academic achievement, evidence of leadership, GMAT/GRE scores, and work experience. The generous donors who provide these scholarships recognize the importance of attracting outstanding students from all over the world to the Smith School MBA program. All applicants whose applications are complete by the priority deadline receive automatic consideration.

  • December 15, 2016 is the priority application deadline for international students.
  • January 15, 2017 is the priority application deadline for domestic students.

Note: There is no separate application for these awards. Applicants to the Smith FTMBA program are automatically considered.

  Scholars Fellows
Dean’s Award Two-year scholarship for tuition and fees Two-year scholarship for tuition and fees plus a one year graduate assistantship
Smith Award One-year scholarship for tuition and fees One-year award for tuition and fees and a one year graduate assistant opportunity
Terrapin Award Ranges from $5,000 - $25,000 per year Ranges from $5,000- $25,000 per year, plus a graduate assistantship opportunity

Smith School Events

Prospective students participating in any of our Smith School events have an opportunity to be considered for a merit scholarship between $5,000 - $20,000. In order to qualify students must register and attend the event. The events that qualify for scholarship consideration are listed below:

MBA Events

Students who attend MBA events and register with the University of Maryland table will be considered for a merit scholarship between $5,000- $20,000. The specific MBA events that qualify for scholarship consideration are listed below:


US Military Members and Veterans

The University of Maryland has a Veterans Program Office to assist military service members and veterans in their educational pursuits. Scholarship and VA benefit information can be found online. Military personnel have the opportunity to receive a scholarship between $5,000 -$25,000. Find out more about military at Smith.

The Forté Foundation

The Smith School is a proud partner school to the Forté Foundation, a non-profit consortium of leading companies and top business schools working together to launch women into fulfilling, significant careers through access to business school education, opportunities, and a community of successful women. Forté provides fellowships as well as numerous life-long benefits to select Smith MBA women. Scholarships awards range from $5,000 - $20,000. Click here for more information about the Forte Foundation.

Note: There is no separate application for this award. All women applicants to the Smith MBA program are automatically considered.

Management Leaders for Tomorrow (MLT)

As an MLT Partner School, Smith makes a definitive commitment to grow leaders from the African American, Latino/a and Native American communities. Our partnership provides students with scholarships as well as opportunities for career coaching, ongoing professional development and valuable networking events with industry peers. Scholarship awards range from $5,000 - $20,000. For more information about MLT please click here

Graduate Assistantships

Financial assistance through college and university research and teaching assistantships is widely available to academically qualified students. Students awarded graduate assistantships pay in-state tuition rates, receive a partial tuition waiver and a stipend for 180 hours of work per semester. Assistantships give students the opportunity to develop skills in a variety of areas including technology, communications, business research, teaching, small business counseling, and project management.

MBA students not awarded graduate assistantships through the Smith School may apply for a Graduate Assistantship (GA) throughout the University of Maryland at College Park. GA positions are handled independently by each department; therefore, students are encouraged to contact each department directly.

Federal Student Loans

U.S. citizens or permanent residents may apply for Federal Student Loans through the Office of Student Financial Aid by completing the Free Application for Federal Student Aid (FAFSA). The application is available online at www.fafsa.ed.gov; UMD-College Park’s FAFSA code is 002103.

After the FAFSA is received by the Office of Student Financial Aid, additional information specific to the individual student may be requested. (For example, a student who has worked full-time and is terminating employment will receive a form requesting additional information about the current year’s expected income). After all application materials are received, Federal loans will be certified, and the student will be notified. This notification process typically begins mid to late June.

Note: An application for aid has no bearing on the application for admittance to the program.

International Student Loans

All merit-based scholarships and graduate assistantship opportunities are open to international students; however, if students would like to explore additional opportunities to subsidize their education, this list can be used as a resource. The list is not exhaustive and students are welcome to select any private vendor of their choice. The Smith School is not responsible for or affiliated with the parties listed.