Financial Aid

Briefly, there are two kinds of financial aid available: need-based financial aid (as determined by the federal government), and merit-based scholarships awarded for a variety of activities and talents include academic excellence, commitment to service, musical talent, or athletic prowess. Check the Financial Aid portion of the college websites for information about applying for aid at each school. The "Paying for College Primer" (in the file section below) is also a good resource to print out; it will help you stay on track as you negotiate the financial aid portion of the college application process. This YouTube video on Types of Financial Aid is also a good resource as you begin to orient yourself to the financial aid process.

Financial Aid is based on a variety of factors. There are numerous resources to assist families and students with understanding college costs and the availability of financial aid funds. Here are some valuable resources to get you started:

FAFSA Worksheet:

FAFSA (Free Application for Federal Student Aid)

College Board:

  • Provides a Net Price Calculator. This tool is that students can use to determine the "net price" to attend a particular college or university. The net price is the difference between the full cost to attend a specific school, minus any grants and scholarships the student may receive at that school.
  • Also provides information about specific schools including percentage of financial need met, graduation rates, and cost information.

College Navigator:

  • A site provided by the National Center for Education Statistics. Provides college search, detailed information, and comparison options. Also gives information on annual loan amounts, retention and graduation rates, programs, costs, and admission requirements.

College Affordability and Transparency Center:

  • Run by the Department of Education, this site allows you to browse lists of institutions with the highest and lowest net price. It also provides a College Score Card with costs, graduation rates, median borrowing, default rates, and employment rates.

Visit the College Website:

  • Visiting the actual website for the school you are considering will provide additional information on current costs, financial aid requirements, deadlines, and a net price calculator.
  • This link provides a consolidated list of all schools in the state of Maine.