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Feb. 12: Partnership program launched to reduce college costs

Friday, February 12, 2016

FREDERICK, Md.—A public-private partnership to reduce college costs and moderate student debt for Maryland high school graduates who lack the financial resources to afford a private college or university was launched yesterday.

Through the Guaranteed Access Partnership Program, Hood College and other participating Maryland colleges will provide matching grants to recipients of a State Guaranteed Access Grant. The award amounts for the State GA grant and matching GAPP grant are determined by a student’s financial need and the college’s cost of attendance.

For the upcoming 2016-17 academic year, the maximum annual State GA award is $17,500. An eligible student may receive a GAPP grant—institutional funds—equal to the State GA grant award. Therefore, a student at Hood College who is eligible for a maximum GA grant award of $17,500 and a matching $17,500 GAPP grant award will receive $35,000 annually to cover the cost of tuition and mandatory fees.

To be eligible for a GAPP award, the student must be eligible and maintain eligibility for a GA grant, complete the financial aid application process and demonstrate eligibility for need-based grant assistance. The annual award will not exceed the cost of tuition and mandatory fees. Through this public-private partnership, low-income Marylanders will have access to a high-quality Hood College education at an affordable cost.