University of Maine Financial Aid and Scholarships 2022

Among them are scholarship programs such as Maine Difference Scholarship, Maine Metal Products Association Scholarship, Maine Public Relations Council Scholarship, and Maine State Society of Washington D.C. Scholarship. Notably, 99% of the students at University of Maine get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $33,849,171. One can visit UM's financial aid page at http://www.umaine.edu/stuaid/ for more information. Notably, a total of 32% of the applicants to University of Maine receive the Federal Grant every year. Meanwhile, 99% of the applicants receive the Student Grant and 99% are awarded the Institution Grant, while 31% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,093, while the same comes to $1,474 for State Grant receivers and $7,572 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,381. 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 UM, an estimated number of 66% of the applicants choose to go for student loans.