Student Loans for University of Maine Students
About University of Maine
Located on an island between the Penobscot and Stillwater rivers, the University of Maine is home to about 12,000 undergrads, 9,000 grads, and is the flagship school of the flagship institution of the University of Maine system. Its curious location on Marsh Island in Orono makes it the only land-grant university in the US situated on an island, and the campus is very rural: exactly what you would imagine when you think of coastal Maine. The town of Orono has grown around the University, but when school’s in session, the University population dwarfs Orono’s population of just over 9,000 residents. While it’s a small town and serene setting, life is vibrant at UMaine, especially when it comes to hockey. The Black Bears are wicked talented on the ice, and compete in the fierce Hockey East conference: but more about them later.
90% of students at UMaine receive financial aid, so you should most likely listen up. When on University of Maine financial aid, you can’t afford to spend money on anything that isn’t totally essential. Essentials include dorm supplies, books, food, tickets and concessions at hockey games, and the occasional meal out at the Bear Brew Pub or Margarita’s. What we’re trying to say is this: if you’re receiving University of Maine financial aid, be smart with your money. If you can afford it, it’s cool to spend a little – but keep a close eye on your cash.
Applying for University of Maine Financial Aid
Since UMaine is a public institution, the only financial aid form you have to submit to receive University of Maine financial aid is the Free Application for Federal Student Aid (FAFSA). Not bad at all! (If you’re concerned about it being a headache, just visit our resource center where we have a bunch of articles on how to file the FAFSA.) Talking to your financial aid counselor is always a good bet if you have questions about your aid package, different forms of aid you could receive, or how to go about borrowing for school. In terms of applying, though, all you have to do is submit the FAFSA. Once that’s sent in, you’ll receive a financial aid package with your next tuition bill.
University of Maine Student Loans
Standard form here: in University of Maine financial aid packages, you’ll see the main forms of financial aid, these being student loans (federal and/or institutional), ‘free money’ awards (grants and scholarships), and self-help aid, such as work-study programs. Most students at UMaine will receive some form of financial aid, and 2/3 will accept the federal student loans offered them in their aid package. For a sizable chunk of the student body, however, their UMaine aid package just won’t cut it, and these students wind up taking out private student loans to cover costs. IF you’re considering private student loans, make sure you’ve exhausted all other available forms of aid, and then check out our student loan comparison tool. It helps you search for and compare loans from premier lenders across the country in order to find the loan that best suits your financial situation; once you find the loan that’s right for you, you can easily and directly apply for it.
Maine financial aid offers both prospective and current students a number of forms of financial assistance, including loans, grants, and scholarships. In addition to these standard forms, the University of Maine also offers federal work-study programs, merit scholarships, and alternative funding options to help students select a suitable plan to finance their education. All of these options are accessible by filling out and submitting the Free Application for Federal Student Aid (FAFSA).
Are there any payment plans available for students through the UMaine financial aid office?
Yes, there are a variety of payment plans available for UMaine students. The UMaine financial aid office understands that paying for college can be a challenge, and to make the process easier for students and parents, payment plans administered by Sallie Mae are available to students through the University of Maine financial aid office. These plans allow students and parents to pay in installments over a period of time, beginning when the student enrolls. There are no fees attached to these plans, apart from a one-time enrollment charge. Students interested in these plans are advised to visit the UMaine financial aid website or contact the Bursar’s office for more information.
Pay for University of Maine – Augusta*
|Total Avg. Cost||Not Avail.|
|Room & Board||$12,681|
|Financial Aid Information|
|Students Receiving Fin Aid||86%|
|Typical Grant Amounts|
|Avg. Other Stud. Loans||$4,284|
|%Receiving Other Loans||2%|
Get into University of Maine – Augusta
|Admission Rate||Not Avail.|
Contact University of Maine – Augusta
*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics