$5,687

Avg. Federal Grant

$5,194

Avg. Federal Loan

$28,566,727

Total Aid Awarded

University of Southern Maine (USM) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

61%

Total Aid Amount Average Total Aid Awarded per year.

$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.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

46%

State Grant Aid

34%

Institution Grant Aid

87%

Pell Grant

45%

Average Aid Awarded

Federal Grant Aid

$5,687

State Grant Aid

$1,631

Institution Grant Aid

$5,562

Pell Grant

$4,556

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$10,511

$30,001 - $48,000

$10,035

$48,001 - $75,000

$6,125

$75,001 - $110,000

$3,074

Over $110,000

$2,694

Student Loans for University of Southern Maine (USM)

Average Loan Amount Average Loan Amount received per year.

$6,833/Year

Students Taking Out Loans

60%

Loan Default Rate

6.1%

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

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