$4,770

Avg. Federal Grant

$4,993

Avg. Federal Loan

$12,060,021

Total Aid Awarded

University of Maine at Augusta (UMA) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

54%

Total Aid Amount Average Total Aid Awarded per year.

$12.060M

Financial Aid Official Website

https://www.uma.edu/financial/aid/

Students can avail of scholarships provided by the university, such as Maine Difference Scholarship, Maine Metal Products Association Scholarship, Maine Public Relations Council Scholarship, and Maine State Society of Washington D.C. Scholarship, if they find educational expenses to be on the higher side. It is interesting to note that, every year, around 90% of students at UMA receive some kind of financial aid, while the total amount of assistance/loans provided is $11,630,594. One can visit UMA's financial aid page at https://www.uma.edu/financial/aid/ for more information. At UMA, the total percentage of applicants who receive the Federal Grant stands at 65%. In comparison, 79% of the students are awarded the Student Grant, 64% get the Institution Grant, and 65% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,832, while the same comes to $1,552 for State Grant receivers and $2,410 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,178. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 50% of the applicants to University of Maine at Augusta opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

63%

State Grant Aid

46%

Institution Grant Aid

56%

Pell Grant

63%

Average Aid Awarded

Federal Grant Aid

$4,770

State Grant Aid

$1,638

Institution Grant Aid

$2,476

Pell Grant

$4,674

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$7,938

$30,001 - $48,000

$6,547

$48,001 - $75,000

$4,192

$75,001 - $110,000

$1,184

Over $110,000

$1,056

Student Loans for University of Maine at Augusta (UMA)

Average Loan Amount Average Loan Amount received per year.

$5,420/Year

Students Taking Out Loans

56%

Loan Default Rate

16.8%

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