University of Southern Maine (USM) Financial Aid and Scholarships
Students Receiving Aid
61%
Total Aid Amount
$28.567M
Financial Aid Official Website
usm.maine.edu/student-financial-services
Such schemes include Maine Difference Scholarship, Maine Metal Products Association Scholarship, Maine Public Relations Council Scholarship, and Maine State Society of Washington D.C. Scholarship. Notably, 97% of the students at University of Southern Maine get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $17,655,054. For additional information about financial assistance schemes, one can head over to USM’s financial aid page at http://usm.maine.edu/student-financial-services. The total percentage of candidates applying to University of Southern Maine who receive the Federal Grant is 45%. In comparison, 93% of the students are awarded the Student Grant, 90% get the Institution Grant, and 45% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,889, and the same stands at $1,690 for State Grant awardees and $5,316 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,297. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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. Every year, around 59% of the applicants to University of Southern Maine opt for student loans.
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