Understanding Your Financial Aid Award Letter

UMaine Alert

Posted: April 19, 2024 - 1:32 PM

At approximately 9:24 a.m. on Friday, April 19, a University of Maine graduate student was struck by a university vehicle on Long Road at the University of Maine campus in Orono. The student reports that they are at a local hospital with minor injuries.

Emergency services, including the Orono Fire Department, University Volunteer Ambulance Corps, University of Maine Police Department, Orono Police Department and Penobscot County Sheriff’s Office responded to the scene.

The university vehicle involved in the incident was a Chevrolet Express van. It was being operated by a university employee.

Counseling services and support are available for students, faculty or staff who may have been affected. The Counseling Center can be reached at 207-581-1392 and the Dean of Students Office can be reached at 207-581-1406.

The scene has been cleared and Long Road is now accessible. An investigation is being conducted by the University of Maine Police Department with assistance from the Penobscot County Sheriff’s Office Crash Reconstruction Unit. Any witnesses to the incident are encouraged to contact Lt. Noel Santiago at noel.santiago@maine.edu.

After you submit your FAFSA, UMaine Financial Aid will issue you an award letter. This award will detail the financial aid you are eligible to receive. This will include federal and UMaine specific money.

You do not need to accept everything in your financial aid award. For example, you may wish to borrow less than you are eligible to take out. Additionally, your award will not list private scholarships you have received outside of UMaine. These scholarships can help lower your Expected Family Contribution, or may lower the amount you need to borrow. See our Scholarship page for more information on scholarships.

Below, find information posted on the UMaine Financial Aid website to help answer frequently asked questions about financial aid packages.

How is my financial aid award calculated?

Your financial aid award is unique to you. Many things may impact your financial aid eligibility, including: your Estimated Family Contribution (EFC), number of classes you take each semester, your housing plans, and the number of credits you have earned toward your degree. For more information on how the financial aid award is calculated, click here.

How does the financial aid office notify me about my financial aid package?

You will receive a paper letter when you’ve been awarded which will direct you to view and accept your award on MaineStreet. From that point forward, we will notify you via e-mail if you have anything you need to do in order to receive your aid, or if there have been changes made to your award.

What types of aid may I receive in my award as an undergraduate student?

As an undergraduate student you may receive an offer for the following aid in your award package: Federal Pell Grant, Federal Supplemental Grant, University of Maine Grant, Federal Perkins Loan, State of Maine Grant, Federal Work Study. If you qualify for any of these awards, they will be a part of your Financial Aid Package.

What types of aid may I receive in my award as a graduate student?

As a graduate student you may receive Federal Unsubsidized Direct Loan.

How do I accept my financial aid award?

Certain aid (scholarships, grants, assistantships, etc.) are automatically listed as accepted on your MaineStreet account. If you wish to receive any other type of aid such as loans, you must accept them on MaineStreet.

Is there anything else I need to do to receive my aid?

There may be additional steps to take in order to receive certain types of aid:

Federal Loans – First-time borrowers are required to complete a Master Promissory Note and Entrance Counseling before receiving the loan funds.

Federal Work Study – You will need to find a job before being able to earn your Federal Work Study funds.

Can my award change?

Your award may change based on the following circumstances:

Corrections or updates to your FAFSA
Changes in your housing plans
Changes in your residency status
Changes in enrollment level each semester
Changes in your (or your family’s) financial circumstances
Receipt of additional assistance and/or scholarships
Receipt of additional information affecting eligibility
Discontinued attendance in classes
Withdrawal from all classes

Any time your award changes you will be notified by e-mail and you will be able to see the changes on your MaineStreet account.

Students are encouraged to notify the Financial Aid office as soon as any of the above circumstances occur.