$5,014

Avg. Federal Grant

$5,114

Avg. Federal Loan

$2,935,833

Total Aid Awarded

Northern Maine Community College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

92%

Total Aid Amount Average Total Aid Awarded per year.

$2.936M

Financial Aid Official Website

www.nmcc.edu/admissions-financial-aid/admissions/overview/

Interestingly, almost all of the students at NMCC receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $1,361,956 in a year. For additional information about financial assistance schemes, one can head over to NMCC’s financial aid page at http://www.nmcc.edu/admissions-financial-aid/admissions/overview/. At NMCC, the total percentage of applicants who receive the Federal Grant stands at 75%. On the other hand, 94% of the candidates get the Student Grant, 70% receive the Institution Grant, and 75% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,612, and the same stands at $1,323 for State Grant awardees and $1,336 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $5,385. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At NMCC, an estimated number of 55% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

71%

State Grant Aid

53%

Institution Grant Aid

67%

Pell Grant

71%

Average Aid Awarded

Federal Grant Aid

$5,014

State Grant Aid

$1,390

Institution Grant Aid

$1,259

Pell Grant

$4,824

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$7,411

$30,001 - $48,000

$7,283

$48,001 - $75,000

$4,052

$75,001 - $110,000

$938

Over $110,000

$250

Student Loans for Northern Maine Community College

Average Loan Amount Average Loan Amount received per year.

$5,114/Year

Students Taking Out Loans

44%

Loan Default Rate

18%

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