University of Maine Financial Aid

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.

Budgeting and University of Maine Financial Aid

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 Financial Aid Packages

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.