258.0 VIII-2.41 POLICY ON INSTITUTIONAL STUDENT FINANCIAL AID FOR UNDERGRADUATE STUDENTS
(Approved by the Board of Regents, February 10, 1995)
I. Purpose
The Regents of the University of Maryland System (UMS)
recognize that financial support of deserving students is an
important means of enhancing the human capital of the State
of Maryland and enriching the learning environments of the
System's institutions. Therefore, each institution of the
System is encouraged, to the extent feasible and prudent, to
use institutional financial resources to supplement federal,
state, and private financial resources in aiding students of
all types who, in the absence of such support, may be unable
to enroll in the institution. Institutional financial aid
should also support the institution's particular mission and
student clienteles.
This policy is applicable only to institutional student
financial aid provided to undergraduate students.
II. Definitions
Institutional student financial aid is financial assistance
provided from state-supported unrestricted funds, i.e.,
those general state funds and tuition and fee revenues that
are not specifically restricted as to the purpose(s) for
which the funds may be expended.
Tuition waivers that are not a part of UMS employee benefits
(e.g., employee, spouse, and dependent tuition waivers) are
a form of institutional student financial aid. Such tuition
waivers shall be accounted for and reported at the face
value of the tuition being waived.
Work-study payments to students from state-supported
unrestricted funds on the basis of need, merit, or a
combination of both are a form of institutional student
financial aid. Intra-institutional student employment for
which job-related skills are the only requirement is not a
form of institutional student financial aid, since it is not
different from comparable extra-institutional employment.
The definitions of "financial need," "cost of attendance,"
and "family contribution" are the currently applicable
definitions of these terms adopted by the State Scholarship
Administration. The total amount of institutional student
financial aid awarded any individual undergraduate student
shall not exceed the cost of attendance for that student.
III. Policy
A. Each institution of the University of Maryland
that enrolls undergraduate students shall develop
policy guidelines for the award of institutional
financial aid to undergraduate students. These
policy guidelines should explicitly include the
following elements:
1. Criteria for awards to state-resident and to non-
state-
resident students based on need, on merit
(including special talent--academic, artistic,
musical, and/or athletic), or a combination of
need and merit.
2. Criteria for awards to full-time students and to
part-time students.
3. Criteria for awards to students who transfer from
Maryland community colleges, from other UMS
institutions, from other Maryland public four-year
institutions, and from non-Maryland institutions.
4. Criteria for the inclusion of mission related
awards.
B. The policy guidelines should include targets or other
characterization of the intended apportionment of
state-supported unrestricted funds among the various
elements and student categories listed in Paragraph A
above.
C. Each institution shall include with its annual request
to the Regents for increases in undergraduate tuitions
an indication of the proportion of new undergraduate
tuition revenues that will be allocated to
institutional student financial aid.
D. Institutional policy guidelines developed in response
to this regents' policy shall be approved by the
institution's president and submitted to the Chancellor
no later than June 30, 1995, for implementation
starting with the 1996-97 academic year. The
Chancellor shall report to the Regents on the
institutional policy guidelines no later than December,
1995. Thereafter, any changes in institutional policy
guidelines shall be reported to the Chancellor no later
than June 30 of the relevant year.
E. To provide the necessary accountability to the Regents
and to the State, each president shall submit a report
to the Regents by October 1 of each year, in a format
prescribed by the Chancellor. The report shall include
the amount and proportion of institutional student aid
funds awarded in each of the student categories
specified in the various elements listed in Paragraph A
above, and the number of students aided in each
category. The report shall be accompanied by a copy of
the currently applicable institutional policy
guidelines.
This policy replaces the Board of Regents Policy on Waiver of
Tuition for Meritorious Undergraduate Students (BOR VIII-2.40)