Maine University: Understanding Student Financial Aid And Stipends

The University of Maine offers financial aid to its students in the form of scholarships, grants, and waivers. The average package of financial aid for students totals more than $9,000, and 86% of degree-seeking undergraduate students are awarded some form of financial aid. The University of Maine's tuition fees are $13,170 for in-state students and $36,600 for out-of-state students, with the total cost, including food and housing, books and supplies, and transportation and personal expenses, reaching $28,502 for in-state students and $51,242 for out-of-state students. The University of Maine's financial aid office determines the amount of financial aid awarded to each student based on their Expected Family Contribution, year in school, enrollment status, and the cost of attendance.

Undergraduate and graduate students only need to fill out one application for financial aid: the Free Application for Federal Student Aid (FAFSA)

Undergraduate and graduate students at the University of Maine need only fill out one application for financial aid: the Free Application for Federal Student Aid (FAFSA). The FAFSA is a federal form that determines a student's eligibility for federal aid. It is free to complete and submit, and it gives students access to the largest source of financial aid for school.

The FAFSA must be filed each academic year for all programs administered by the University of Maine, including federal, state, and university grants, loans, work-study, and scholarships. The FAFSA for the academic year 2024-2025 will be available to complete in December 2023, and the preferred deadline for submission is March 1, 2024, to allow for the equitable distribution of limited funding to eligible students. The federal deadline to submit the FAFSA for the 2024-2025 school year is June 30, 2025.

To complete the FAFSA, students will need to create a Federal Student Aid (FSA) ID, which they can use to sign and submit their FAFSA form. The FSA ID also grants access to certain U.S. Department of Education websites, such as FAFSA.gov and Studentaid.gov/login. Additionally, the U.S. Department of Education and the Internal Revenue Service (IRS) have developed the IRS Data Retrieval Tool, which simplifies the completion of the FAFSA application by allowing applicants and parents to request and retrieve their tax data directly from the IRS.

The information provided on the FAFSA form will be used to determine a student's dependency status and Expected Family Contribution (EFC). Both of these items will be used to determine aid eligibility. The EFC is an index number that college financial aid staff use to calculate how much financial aid a student would receive if they were to attend their school. It takes into account factors such as family income, assets, benefits, family size, and the number of family members attending college or career school.

The University of Maine's tuition is $13,170 for in-state and $36,600 for out-of-state students

The University of Maine's tuition fees vary depending on several factors, including a student's primary major, residency status, and mode of study. For the 2024-2025 academic year, the tuition for in-state students is $13,170, while it is $36,600 for out-of-state students. These figures include both tuition and fees, often referred to as the sticker price. The total cost, including food, housing, books, supplies, transportation, and personal expenses, is $28,502 for in-state students and $51,242 for out-of-state students.

The University of Maine is committed to providing affordable education to its students. In fact, Maine's public universities are the most affordable in New England. For example, the in-state undergraduate tuition at the University of Maine is 38% less than the average of other New England flagships. Moreover, according to recent data, 86% of degree-seeking undergraduate students at the University of Maine were awarded some form of financial aid. In 2023, over 19,000 students received assistance that they did not need to pay back, with an average package of scholarships, grants, and waivers totaling more than $9,000.

The University of Maine offers various types of financial aid, including need-based and merit-based aid. Need-based aid is determined by a student's or their family's ability to pay for college, as calculated by the Free Application for Federal Student Aid (FAFSA). The average need-based scholarship or grant awarded to first-year students at the University of Maine was $13,020. Additionally, 65% of first-year students received need-based financial aid in the fall of 2022. Merit-based aid, on the other hand, is awarded for specific talents or academic achievements. The average non-need-based scholarship or grant awarded to first-year students was $9,056, excluding any athletic scholarships.

The University of Maine also provides financial aid to international students, who are required to have a health insurance plan while studying at the university. International students can benefit from various scholarship options to make their education more affordable.

The average need-based scholarship or grant awarded to first-year students at the University of Maine was $13,020

The University of Maine offers a range of scholarships and financial aid packages to its students. The average need-based scholarship or grant awarded to first-year students is $13,020. This amount is determined by a variety of factors, including financial need, academic merit, and achievement.

The University of Maine offers need-based financial aid to students who demonstrate financial need. The amount of need-based aid is calculated by subtracting the Expected Family Contribution (EFC) from the Cost of Attendance (COA). The EFC is determined by a student's FAFSA application, which takes into account factors such as family income, assets, family size, and the number of family members attending college. The COA includes the cost of room and board, books, supplies, transportation, loan fees, and other miscellaneous expenses.

The University of Maine also offers merit-based scholarships to high-achieving students, such as the Flagship Scholars Commitment Program, which provides scholarships to out-of-state students based on their high school GPA and the rigor of their coursework. Additionally, the University of Maine participates in the Federal Work-Study Program, which provides students with the opportunity to work part-time and earn a bi-weekly paycheck to help pay for their education expenses.

The University of Maine is committed to making education accessible and affordable for its students. In 2023, more than 19,000 students were awarded financial assistance, with an average package of scholarships, grants, and waivers totaling more than $9,000. The university encourages students to explore the various scholarship and financial aid opportunities available to help fund their education.

The University of Maine met 74% of its students' financial aid needs

The University of Maine (UMaine) offers a range of financial aid options to its students. The university met 74% of its students' financial aid needs in 2022.

Types of Financial Aid

UMaine offers various types of financial aid, including grants, scholarships, loans, and work-study programs. The specific financial aid package offered to a student depends on their financial need, year in school, enrollment status, and the cost of attendance at UMaine.

Grants

Grants are typically need-based financial aid that does not need to be repaid. The Federal Pell Grant, Federal Supplemental Grant, and State of Maine Grant are some examples of grants available to undergraduate students at UMaine.

Scholarships

Scholarships are a form of financial aid that does not need to be repaid. They are usually awarded based on merit or academic achievement. UMaine offers various scholarships through the admissions process, known as merit scholarships. Additionally, students can apply for additional scholarships through the university.

Loans

Loans are another source of financial aid available to students. The Federal Direct Loan Program offers both subsidized and unsubsidized loans to students. Subsidized loans are need-based, while unsubsidized loans are available to students who do not qualify for need-based assistance. The Federal PLUS Loan Program is also available to graduate students and parents of dependent undergraduate students.

Work-Study Programs

Work-study programs provide students with part-time employment opportunities to help offset the cost of tuition. The Federal Work-Study Program allows students to work and earn a bi-weekly paycheck to help pay for their education expenses.

Determining Financial Aid Awards

The financial aid office at UMaine determines the cost of attendance (COA) and considers the expected family contribution (EFC) to calculate the financial need of each student. The formula for calculating financial need is:

> COA – EFC = Financial Need

Once the financial need is determined, the financial aid office decides on the amount and type of financial aid to offer. Need-based aid cannot exceed the calculated financial need. Non-need-based aid is calculated by subtracting any financial aid already awarded from the COA.

Applying for Financial Aid

Students applying for financial aid at UMaine are required to fill out the Free Application for Federal Student Aid (FAFSA). The FAFSA is used to determine eligibility for federal aid and to establish dependency status and expected family contribution. Students can also use the FAFSA to apply for financial aid at other universities and colleges.

The average package of scholarships, grants, and waivers for University of Maine students totalled more than $9,000 in 2023

The University of Maine offers a range of scholarships, grants, and waivers to its students. In 2023, the average package of such financial aid totalled more than $9,000. This aid is available to students in the form of need-based and non-need-based aid. Need-based aid is financial aid that a student can receive if they demonstrate financial need and meet other eligible criteria. Non-need-based aid, on the other hand, is financial aid that is not based on a student's expected family contribution (EFC).

The University of Maine determines a student's eligibility for financial aid based on several factors, including income, enrollment status, and academic progress. Additionally, the university offers various university-specific scholarships and tuition waiver programs. These include the Native American Waiver Program, the USS Maine Commemorative Tuition Waiver Program, and the University of Maine National Merit Award, among others.

The university also provides federal financial aid to its students, which is determined by the Free Application for Federal Student Aid (FAFSA). The FAFSA calculates a student's EFC, which is used to assess their eligibility for federal aid and their dependency status. The university offers undergraduate students a range of federal aid, including the Federal Pell Grant, Federal Supplemental Grant, and Federal Work-Study. Graduate students may receive federal aid in the form of Federal Unsubsidized Direct Loans.

Furthermore, the University of Maine offers merit-based scholarships to high-achieving out-of-state students through the Flagship Scholars Commitment Program. These scholarships are awarded based on a student's high school GPA and the rigor of their coursework. The scholarship amount is determined at the time of admission and remains fixed throughout their undergraduate career, provided the student meets the renewal eligibility requirements.

Frequently asked questions