Student Loans for University of Southern Maine Students
About University of Southern Maine
The University of Southern Maine is split across three campuses, providing easy access to pubic secondary education across the southern part of Maine. The University’s three campuses are located in Portland, Gorham, and Lewiston-Auburn, with each campus housing different aspects of the school, from different undergraduate programs in Occupational Therapy to Applied Sciences and from New England Studies to Industrial Technologies. USM certainly offers students variety, both in subjects to be studied and in location, so there’s something for everyone.
Creating a budget to tighten up on spending money while at college is always tricky, and is doubly so when receiving University of Southern Maine financial aid. Certain aspects of the University can negatively affect your budget, such as the minimal amount of on-campus housing offered on the Portland and Lewiston-Auburn campuses.
Applying for University of Southern Maine
It’s easy, promise. Just submit the FAFSA! Don’t know what that is? It stands for Free Application For Federal Student Aid, and is a standard form used by all colleges and universities, as well as the federal government, to evaluate the financial need of applicants. It’s not too terrible to fill out, though it does require you to prepare and report a good deal of personal financial information – so prepare! If you have any super specific questions, give your aid officer at the USM aid office a call. They’ll be happy to help.
University of Southern Maine Student Loans
All financial aid packages are concocted equally, at least in terms of ingredients; like anywhere else, USM aid packages include student loans, work-study programs, scholarships, and grants. For many students, that mix is enough funding to afford attending USM, but for some, more funding is necessary to cover costs. For these students, private student loans are often a good source of funding when all other options have been exhausted. If you’re considering a private student loan, make sure you exhaust all other forms of aid first. If you are ready to apply for a loan, or want to find the right one for you.
Students can apply for a federal work study program program by submitting the Free Application for Federal Student Aid (FAFSA). There is no specific application for work-study programs, just the FAFSA — if you demonstrate financial need and your school has work-study positions, then you will almost assuredly be offered a work-study position from the Southern Maine financial aid office. Southern Maine allows students to earn money through employment via this program. Students interested in this option need to be enrolled for at least 6 credit hours. The Federal Work Study program allows students to earn somewhere in the range of $600 to $3500 per academic year.
Pay for University of Southern Maine*
|Total Avg. Cost||$23,446|
|Room & Board||$8,996|
|Financial Aid Information|
|Students Receiving Fin Aid||89%|
|Typical Grant Amounts|
|Avg. Other Stud. Loans||$9,768|
|%Receiving Other Loans||12%|
Get into University of Southern Maine
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*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics