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 and determine which ones you may be eligible for by continuing your exploration.
University of Maine average financial aid offer for freshmen students is $7,985.00. About 99% of first year students receive financial aid, most of which is in the form of loans.
Loans are included in the umbrella of ‘financial aid’, even so, the only true discount from the cost of college is a grant or scholarship that you don’t have to pay back.
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 University of Maine.
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.
99% of incoming freshmen (2079 total) were given scholarships at University of Maine, averaging $8,383.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 90% of freshmen (1889 total) obtained a federal grant, for about $2,381.00 a piece.
Amount of Financial Assistance Per Income Level
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 9.35% | $12,363.00 |
| Income 30k-48k | 6.32% | $12,003.00 |
| Income 48k-75k | 8.40% | $9,695.00 |
| Income 75k-110k | 9.16% | $6,097.00 |
| Income 110k + | 11.35% | $4,610.00 |
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.
99% of the 2106 undergraduates at University of Maine receive some sort of grant aid. This is a total of about 2090 students getting an average of $7,985.00 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.