$5,255

Avg. Federal Grant

$5,323

Avg. Federal Loan

$11,494,709

Total Aid Awarded

University of Maine at Farmington Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

83%

Total Aid Amount Average Total Aid Awarded per year.

$11.495M

Financial Aid Official Website

merrillcenter.umf.maine.edu/financial-aid/

It is interesting to note that, every year, around 97% of students at UMF receive some kind of financial aid, while the total amount of assistance/loans provided is $7,555,552. One can visit UMF's financial aid page at http://merrillcenter.umf.maine.edu/financial-aid/ for more information. The total percentage of candidates applying to University of Maine at Farmington who receive the Federal Grant is 53%. In comparison, 94% of the students are awarded the Student Grant, 90% get the Institution Grant, and 53% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $5,462, the State Grant receivers and Institution Grant beneficiaries get $2,227 and $4,023, respectively. On the other hand, the average aid received by the Pell Grant awardees is $4,477. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At UMF, an estimated number of 80% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

54%

State Grant Aid

45%

Institution Grant Aid

90%

Pell Grant

54%

Average Aid Awarded

Federal Grant Aid

$5,255

State Grant Aid

$2,265

Institution Grant Aid

$4,201

Pell Grant

$4,387

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$10,907

$30,001 - $48,000

$10,952

$48,001 - $75,000

$8,199

$75,001 - $110,000

$4,111

Over $110,000

$1,984

Student Loans for University of Maine at Farmington

Average Loan Amount Average Loan Amount received per year.

$6,238/Year

Students Taking Out Loans

76%

Loan Default Rate

4.7%