by our College Data Analytics TeamRather than paying the full sticker price for a college education, most students receive a financial aid package that eases the burden with scholarships, grants, loans, and work-study options, while the amount and type of aid may vary among students.
Uncover the various financial aid options provided by UMaine Farmington and determine which ones you may be eligible for by continuing your exploration.
$8,288.00 is the typical University of Maine at Farmington’s first year financial aid package. Financial aid is provided to about 99% of first-year students, with the bulk of support coming in the form of grants and scholarships.
Loans are a part of financial aid plans, but the only true college discount is a scholarship or grant that you don’t have to repay.
We feel that loan debt ought to be regarded as a consequence instead of true financial aid. Learn more on student loan debt at University of Maine at Farmington.
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 stats below refer to aid that is provided by University of Maine at Farmington.
93% of new students (357 total) were offered scholarships at University of Maine at Farmington, averaging $4,771.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
As well as scholarships, 92% of freshmen (351 total) received a federal grant, for about $3,699.00 a person.
The table following demonstrates grant and scholarship distributions by income level for freshmen getting any sort of federally-funded Title IV aid, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 20.89% | $11,603.00 |
| Income 30k-48k | 13.05% | $11,423.00 |
| Income 48k-75k | 14.36% | $9,147.00 |
| Income 75k-110k | 10.44% | $5,809.00 |
| Income 110k + | 11.23% | $3,231.00 |
The table above displays undergrads who are obtaining Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
379 UMaine Farmington undergrads obtain grant aid (this is about 99% of the entire undergraduate student population). The average amount these students receive is $8,288.00.
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.