$5,144

Avg. Federal Grant

$4,906

Avg. Federal Loan

$3,586,084

Total Aid Awarded

University of Maine at Fort Kent (UMFK) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

37%

Total Aid Amount Average Total Aid Awarded per year.

$3.586M

Financial Aid Official Website

www.umfk.maine.edu/admissions/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. As many as 94% of the students at UMFK get some sort of financial aid, and the total amount of assistance/loans provided is more than $3,557,300 in a year. One can visit UMFK's financial aid page at http://www.umfk.maine.edu/admissions/financial_aid/ for more information. The total percentage of candidates applying to University of Maine at Fort Kent who receive the Federal Grant is 57%. On the other hand, 88% of the candidates get the Student Grant, 60% receive the Institution Grant, and 57% get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,924, the State Grant receivers and Institution Grant beneficiaries get $2,236 and $2,977, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,922. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. 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 UMFK, an estimated number of 64% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

46%

State Grant Aid

36%

Institution Grant Aid

60%

Pell Grant

46%

Average Aid Awarded

Federal Grant Aid

$5,144

State Grant Aid

$1,975

Institution Grant Aid

$3,121

Pell Grant

$4,815

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$8,935

$30,001 - $48,000

$6,714

$48,001 - $75,000

$3,984

$75,001 - $110,000

$665

Over $110,000

$500

Student Loans for University of Maine at Fort Kent (UMFK)

Average Loan Amount Average Loan Amount received per year.

$6,284/Year

Students Taking Out Loans

53%

Loan Default Rate

8.4%