Need to use your financial aid to buy your books? Apply for a Book Loan from the Office of Financial Aid & Scholarships to use at the UMBC Bookstore. There are certain criteria students must meet in order to be eligible for a Book Loan. If you can answer ‘yes’ to the following statements, you may be eligible for a Book Loan:
- I do not have any outstanding to-do’s in my alerts on myUMBC
- The amount of aid I will receive is more than amount of my bill
- I do not have any past due balance from a prior semester
- I do not have an account currently in Collections
The way the Book Loan process works is basically we are fronting you your refund to purchase your books now, rather than waiting until your refund is processed. The UMBC Bookstore will charge the amount of your purchase to your Student Account. It is your responsibility to use your refund to pay the charges on your account if you use a Book Loan.
How much are you eligible for? Book Loans are awarded based upon your enrollment status or your refund amount, whichever is less. The following is based on your enrollment status:
- Full-time students (12+ credits) can receive up to $600 in a Book Loan.
- Three Quarter-time students (9-11 credits) can receive up to $450 in a Book Loan.
- Half-time students (6-8 credits) can receive up to $300 in a Book Loan.
- Less Than Half-time students (<6 credits) can receive up to $150 in a Book Loan.
The Office of Financial Aid & Scholarships has specific days and times when you may come in to the office to request a Book Loan. Book Loans will be offered starting two weeks before classes, on Monday, August 13, 2012.
Please visit our website at http://www.umbc.edu/financialaid/book_loans.html for more information about book loans and to access the schedule.