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.
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.
University of Southern Maine average financial aid offer for freshmen students is $7,212.00. 97% of reshman students get financial aid, most of which is in the form of grants and scholarships
Financial aid helps reduce the cost, or the full retail price of the college. However, be aware that the only true college discount is scholarships & grants.
A college loan is not a true college discount, but rather an outcome to consider. Find out how much student loan debt from University of Southern Maine you may end up taking on.
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.
88% of incoming freshmen (764 total) were awarded scholarships at University of Southern Maine, averaging $5,188.00 a piece. This puts it in the top 50th percentile among colleges and universities nationwide.
As well as scholarships, 91% of freshmen (792 total) received a federal grant, for about $3,231.00 a person.
The table below demonstrates scholarship and grant allocations by income level for freshmen receiving any type of federal Title IV assistance, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 18.85% | $11,244.00 |
| Income 30k-48k | 9.77% | $10,415.00 |
| Income 48k-75k | 11.26% | $7,344.00 |
| Income 75k-110k | 9.77% | $3,978.00 |
| Income 110k + | 11.49% | $3,112.00 |
The table above shows students who are obtaining Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
Of the 870 undergraduate students at University of Southern Maine around 97% (801 total) receive some form of grant aid. The typical amount awarded was $7,212.00.
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.