by our College Data Analytics TeamThe majority of college students don’t pay the full price for their education, as financial aid packages, including scholarships, grants, loans, and work-study opportunities, help to offset the costs.
What amount of UMFK financial assistance will actually be available to you?Get answers to your questions here.
$5,450.00 is the typical University of Maine at Fort Kent’s first year financial aid package. 97% of first-year students are awarded financial aid, primarily comprising loans.
Student loans come included in financial aid packages, however, the only true discount off of the price of college is a grant or scholarship that you do not need to pay back.
Uneasy about the debt that may be included in your financial aid plan? Find the average amount of debt per student at University of Maine at Fort Kent.
Colleges and universities offer institutional scholarships and grants as financial assistance to help students cover tuition fees and other educational costs. These awards, which do not require repayment, can be merit-based or need-based. Merit-based institutional scholarships recognize students who have exceptional academic records, special talents, or skills in particular areas. Eligibility for these scholarships often depends on factors such as a student’s high school performance, standardized test scores, or involvement in extracurricular activities. In contrast, need-based institutional grants are designed for students who show financial need. The amount awarded usually depends on the student’s family’s financial condition and aims.
The next numbers refer to grants and scholarships mainly supplied by the college itself.
79% of incoming freshmen (100 total) were awarded scholarships at University of Maine at Fort Kent, averaging $2,983.00 a piece. This puts it in the top 50th percentile among colleges and universities nationwide.
In addition to scholarships, 83% of first-year students (105 total) got federal grant aid, averaging $3,251.00 per person.
The next table shows grant and scholarship distributions by income for first-year students getting any form of federally-funded Title IV aid, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 13.49% | $8,619.00 |
| Income 30k-48k | 14.29% | $7,689.00 |
| Income 48k-75k | 9.52% | $6,690.00 |
| Income 75k-110k | 11.90% | $2,975.00 |
| Income 110k + | 7.94% | $1,482.00 |
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.
97% of the 126 undergraduates at University of Maine at Fort Kent receive some sort of grant aid. This is a total of about 117 students getting an average of $5,450.00 per person.
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.