<p>Hello,</p>
<p>I'm an incoming freshman who received the full Banneker/Key and I was just wondering about the book stipend we shall receive. I was told by financial aid that we receive the book stipend approximately a week before school starts, and this shocked me. If I wait a week before classes start to get my books will I have any luck? Or should I pay out of pocket and then be reimbursed by the stipend?</p>
<p>Thank you</p>
<p>I’m a full BK too, and I decided to order my books now, pay them myself, and then be reimbursed by the stipend. But I have a question too, does the stipend cover the recommended books or just the required ones? Also, how much is the stipend? </p>
<p>I remember seeing somewhere that the book allowance only covers <em>required</em> books, but haven’t been able to find that again (yet). In the meantime, from <a href=“http://www.bannekerkey.umd.edu/currentscholars.php:”>http://www.bannekerkey.umd.edu/currentscholars.php:</a></p>
<ol>
<li><p>Book Allowance
All Banneker/Key Scholars receive a book allowance each year. This amount was $1130 for the 2013-14 academic year. One-half of the book allowance is credited to the student’s financial aid account at the beginning of each term. If the student has a credit in the account at the beginning of the term, then a check for the credit amount will be mailed to the student’s home address or the student can sign-up for direct deposit to a personal bank account. This allows students to purchase books from any vendor at any time.</p></li>
<li><p>For More Information about Financial Matters
For more information about the award and benefits of the Banneker/Key Scholarship, please go to the Banneker/Key Scholars Financial FAQs [this link is broken] and the Banneker/Key Scholarship Policy Statement [this links to a pdf].</p></li>
</ol>
<p>from the 2013-2014 Banneker/Key Scholarship Policy Statement [pdf]:
Administration of Funds
Refunds will not be available until the student has registered for a minimum of 12 credits
(waitlisted courses do not count) and all University charges incurred on his/her student account
have been paid. Every effort will be made to have refunds available during the first week of
classes, however the student should make alternate arrangements to purchase books or pay rent if
necessary. Please note: the initial refund received at the beginning of the semester includes the
funds for the book allowance.</p>
<ol>
<li>Still Have Questions?
Please feel free to be in touch!
Contact us at:
Phone: 301-405-6771 (Honors College Main Office)
Email: <a href=“mailto:bannekerkey@umd.edu”>bannekerkey@umd.edu</a></li>
</ol>
<p>A phone call could be in order – still seems confusing to me even after reading all of the above…</p>
<p>The stipend is applied to the student’s account and does not directly tie to book purchases. We’ve bought books separately and not had to provide receipts of any kind. There have been semesters where the book allowance exceeds the cost of books. It’s essentially an additional grant.</p>