University Park at a glance
- Population: about 2,379, 67th by size in Maryland of 157 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 2,449 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: a decline of roughly 2.9% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Maryland places: 67th-largest of 157 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 57% of places in Maryland rank below it by population (US Census Bureau).
- Coordinates: 38.9719 latitude, -76.9444 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Hyattsville, MD (1 mi); Riverdale Park, MD (1 mi); College Park, MD (2 mi); Brentwood, MD (2 mi); Berwyn Heights, MD (2 mi), each a US Census place with its estimated population.
- Nearest smaller towns: Edmonston, MD (2 mi); North Brentwood, MD (2 mi); Cottage City, MD (2 mi) (US Census Bureau).
What a personal loan costs in University Park
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Maryland lending rules that apply in University Park
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| OFR consumer-loan interest-rate limits | 2.75%/month (33%/yr) on the first $1,000 of a loan ≤$2,000; 2%/month (24%/yr) thereafter and on loans over $2,000 Source says: "Maximum interest rate allowed by law is 2.75% per month or an annual interest rate of 33%" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 24% per year effective simple interest for qualifying loans (Md. Code Com. Law § 12-103(c)); otherwise 8% (written agreement) or 18% Source says: "a lender may charge an effective rate of simple interest not in excess of 24 percent per year on the unpaid principal balance" | Maryland General Assembly as of 2026-09-16 |
| Payday lending status | Regulated as consumer loans: licensing and statutory interest-rate limits apply to payday-style loans (OFR) Source says: "they are prohibited from charging or receiving an interest rate that is greater than authorized by the laws of this State" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Lender license required to make loans under the Maryland Consumer Loan Law (Com. Law § 12-301 et seq.) Source says: "A Consumer Lender is a business that makes any loan or advance of money or credit under the Maryland Consumer Loan Law" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
| State lending regulator | Office of Financial Regulation; Commissioner of Financial Regulation (Maryland Department of Labor) Source says: "is Maryland's consumer financial protection agency and financial services regulator" | Maryland Department of Labor as of 2026-09-16 |
How to compare offers in University Park
Here is a short checklist for comparing personal loans in University Park:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Maryland using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.