(Approved by the President, July 10, 1995)
 
       The University of Maryland System Board of Regents has defined
  institutional student financial aid as "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."
 
       At the University of Maryland at College Park, need-based financial aid
  is awarded based on demonstrated financial need as determined by the federal
  methodology and the goal of attracting and retaining a talented and diverse
  undergraduate student population.  The University awards merit scholarships to
  its most talented undergraduate freshmen, and transfer and continuing
  students.  "Talent" includes performance on traditional academic measures
  (strength of academic program, performance in academic program, and
  standardized test scores); artistic, musical, or athletic abilities;
  extracurricular involvement; leadership; and community service.  Specific
  criteria for both need- and merit-based awards will vary with the size and
  quality of the applicant pool in relation to available funds.
 
       1.   All awards are based on demonstrated financial need and/or talent
            as defined above.  Residency status will be used as a factor in
            determining the amount and nature of the award.  The amount of the
            awards varies, but for students who receive "full-ride"
            scholarships, the awards may include, but not exceed, the cost of
            tuition, mandatory fees, room and board, and an allowance for
            books required for classes in which the student is enrolled.
 
       2.   Financial aid funds are awarded primarily to full-time students.
 
       3.   Need-based awards are available to transfer students on the same
            basis as new freshmen and continuing students.  A limited amount
            of merit funds will be awarded to new transfer students from
            Maryland community colleges or other institutions in the
            University of Maryland System.
 
       4.   Mission-related financial aid awards will be offered in support of
            the University goal of recruiting and retaining to graduation a
            talented and diverse student population.
 
       5.   The total amount of funds expended for merit-based aid shall not
            exceed the total of need-based aid expended from federal, state
            and institutional funds.
 
       6.   The President's annual financial aid report to the Regents,
            required by System policy VIII-2.41, will include any recommended
            revisions or modifications of these policy guidelines.