$5,431

Avg. Federal Grant

$5,625

Avg. Federal Loan

$70,189,717

Total Aid Awarded

University of Maine Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

81%

Total Aid Amount Average Total Aid Awarded per year.

$70.190M

Financial Aid Official Website

www.umaine.edu/stuaid/

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.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

32%

State Grant Aid

18%

Institution Grant Aid

99%

Pell Grant

32%

Average Aid Awarded

Federal Grant Aid

$5,431

State Grant Aid

$1,518

Institution Grant Aid

$7,738

Pell Grant

$4,412

As shown in the table the breakdown includes Federal Grants, Pell Grants, state grants and institutional grants, with Institutional grants having the highest percentage contribution of 99% with an average aid amount being $7738. Pell grants have a percentage of 32% with an average aid amount of $4412 which is higher than the State grant aid average of $1518.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$11,219

$30,001 - $48,000

$9,871

$48,001 - $75,000

$7,057

$75,001 - $110,000

$4,576

Over $110,000

$3,068

As shown in the table lower the family income higher is the amount of aid one can expect to receive. For those students who have a family income under $30,000 can expect to receive an aid amount of $11219 while those with family income over $110,000 can expect to receive an aid amount of $3068. This helps students who are coming from low-income homes to pay for their degree.

Student Loans for University of Maine

Average Loan Amount Average Loan Amount received per year.

$9,114/Year

Students Taking Out Loans

66%

Loan Default Rate

5.7%

Other Colleges In Maine

There is a private university in Biddeford, ME called University of New England. The foundation of University of New England was laid down in the year 1831. Keeping the pursuit of research, innovation, and excellence at the center, University of New England has been imparting quality education to

Biddeford, Maine 4 years Private Not-For-Profit

#N/A

Portland, Maine 4 years Public

There is a private university in Waterville, ME called Colby College. Colby College was founded in the year 1813. Colby College believes in imparting education and contributing to society by focusing on innovation, research, education, and commitment. The motto of the university is Lux Mentis Sci

Waterville, Maine 4 years Private Not-For-Profit

Other Public Colleges

Florida State University was founded in 1851 and is the oldest continuous site of higher education in Florida.

  • The FSU acceptance rate is 37%.

  • The total student population of the university is 41,005 students, while t

Tallahassee, Florida 4 years Public

#N/A

Kennesaw, Georgia 4 years Public