by our College Data Analytics TeamMany students attending Maine Maritime Academy can expect to receive financial assistance in various forms, such as scholarships, grants, loans, and work-study programs, making the cost of attendance more manageable.
However, some types of financial aid are definitely more desireable than others, and some students will receive more aid than others.Find out more by scrolling down the page.
$9,469.00 is the typical Maine Maritime Academy’s first year financial aid package. Approximately 94% of incoming freshmen obtain financial assistance, with the majority being offered as loans.
Financial aid contains loans, grants, and scholarships. But college loans need to be repaid, thus they are not a real college discount.
Student debt really should be considered to be an added expense and not as “aid” or a “discount”. Find more about student loan debt at Maine Maritime Academy.
Institutional scholarships and grants refer to financial aid provided directly by a college or university to support students in covering their educational expenses. These awards can be either merit-based or need-based and do not require repayment. Merit-based institutional scholarships reward students who have demonstrated exceptional academic achievements, talents, or skills in specific areas. Such scholarships often take into account a student’s high school performance, standardized test scores, or extracurricular activities. On the other hand, need-based institutional grants are allocated to students who exhibit financial need. The amount awarded is usually determined by the student’s family’s financial circumstances and aims to cover the difference between the cost of attendance and the family’s capacity to pay. To assess eligibility for need-based grants, colleges and universities may use information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants play a crucial role in assisting students, as they can considerably lower the cost of college and make higher education more attainable.
The next numbers refer to grants and scholarships mainly supplied by the college itself.
59% of first-year students (154 total) were offered scholarships at Maine Maritime Academy, averaging $8,568.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 33% of first-year students (87 total) got federal grant aid, averaging $4,747.00 per person.
The table below shows grant and scholarship distributions by income for first-year students getting any sort of federally-funded Title IV aid, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 8.78% | $9,066.00 |
| Income 30k-48k | 8.78% | $9,394.00 |
| Income 48k-75k | 7.63% | $6,251.00 |
| Income 75k-110k | 6.11% | $4,965.00 |
| Income 110k + | 14.50% | $6,746.00 |
The table above displays undergrads who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
189 Maine Maritime undergrads obtain grant aid (this is about 94% of the entire undergraduate student population). The average amount these students receive is $9,469.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.