Financial Aid Services: Cyr Hall

Fax Number: 834-7841
Lisa Michaud, Associate Director of Financial Aid (834-7515)
Trisha Connor, Student Accounts & Financial Aid Coordinator (834-8651)
Sadie Desjardins, Accounting Support/Financial Aid Specialist
Leland Roy, Financial Aid Counselor (834-7607)
Financial Aid Website

UMFK offers several financial aid programs, including federal and state grants, scholarships, work-study, and student loans. Students must reapply for financial aid each year and are encouraged to complete the Free Application for Federal Student Aid (FAFSA) as soon as possible after October 1st. UMFK’s priority filing date is March 31st. Consideration for financial aid is contingent upon the student’s eligibility and availability of funds. All applicants who would like to be considered for federal financial assistance must file the FAFSA. This form may be completed online at the FAFSA website. Some applications are selected by the federal processor for review, also known as verification. If selected for verification, in accordance with federal regulations, additional documents may be required. Applicants selected for verification will be notified by the Financial Aid Office, and required documents will also appear on the To Do List in their Student Center in MaineStreet. Financial aid will not be awarded until the FAFSA and all requested financial aid documents have been received. (Note that Non-Degree students are not eligible for financial aid.) The initial award notice to new students is mailed. If a financial aid package is changed for any reason (such as receipt of an outside scholarship) the student will be notified by campus email and an updated award notice will appear in their Student Center in MaineStreet. Viewing/accepting/declining or modifying a financial aid award offer, or to report other financial aid, such as an outside scholarship, can all be accomplished in the Student Center in MaineStreet.

Campus Email

The Financial Aid office uses the student’s @maine.edu email as a means of keeping in touch with students for various reasons. Students are required to activate, use and check their campus email regularly. You may activate and/or forward your campus email to another email account at the UMS User Account Management page. The campus email is also accessible via the campus portal.

Campus Portal

This is where you go to login to a variety of important places to access information. The Campus Portal login is located at my.umfk.edu. Login using your campus email ID and password. A variety of Icons will be available for you to select from. Here you can: check your campus email, get to MaineStreet and print forms and documents, etc.

MaineStreet (MS)

MaineStreet is an online portal for students to view financial aid, student account, grades, class list, and other important school information. MaineStreet > Self Service > Student Center also displays the To Do List, Message Center, and allows students to view, accept, decline, or change financial aid awards.

The Finances section in MaineStreet is home to financial aid and billing information. Click on “View Financial Aid” to view the financial aid package offered to you. Here you can view aid by academic year or by semester. Click on “Accept/Decline Awards” to accept or decline aid offered to you.

In the Finances section you may also view your itemized charges and/or payments; you can view these details by selecting “Account Activity” in the drop down box in the Finances section. Check here to view if financial aid has been applied to your student account – if so, it will be posted as a payment.

Financial Aid funds are not applied to a student’s university account until approximately one week prior to the first day of class for Fall and Spring semesters. Financial Aid payments for summer sessions may not be made until after the Add/Drop period. Prior to the funds being applied to your account, any accepted financial aid (excluding work-study, alternative loans and outside scholarships) will be listed as “anticipated aid” under the Details/Bill/Pay hyperlink. Direct Loans that have not been processed within a reasonable time will only be listed as “anticipated aid” for a limited time. Details regarding the Federal Direct Loan application process are available at the UMFK Federal Direct Loan webpage.

If the amount of available aid exceeds the amount you owe to the University for a given semester, you may receive a refund. A past UMFK balance is not always automatically paid before a refund is issued to you. Please monitor your school bill periodically in MaineStreet. More information on refunds and the financial aid process is available at UMFK's Financial Aid Basics webpage.

Grants

Grants are monies that do not need to be repaid and are available under regulations set forth by agencies administering the grants. These include the Federal Pell Grant, the Federal Supplemental Educational Opportunity Grant (FSEOG), and the state grant programs.

Scholarships

Scholarships are monies that do not need to be repaid. Eligibility varies from scholarship to scholarship.

  • UMFK scholarships are scholarships that are awarded specifically to UMFK students either planning to attend UMFK or attending UMFK. An online application is available. The application priority deadline date for UMFK scholarships is March 1st of each year.
  • Outside scholarships are scholarships from a source outside of the University. Any outside scholarships that you receive must be reported to the financial aid office and are accepted year-round.

The campus website also has a listing of both UMFK and Outside scholarships for students to browse through and apply for at UMFK's scholarships and grants webpage. Deadlines vary.

Work-Study

A Work-Study allocation allows a student to work on campus. The student is paid every two weeks for hours worked. Earnings are paid directly to the student. There are different types of work programs available. For more information regarding student employment, please visit the campus' student employment website.

Student Loans

Loans are borrowed money that must be paid back with interest. For more information on the different types of loans being offered, visit the UMFK education loans webpage.

Federal Direct Loans

Federal Direct Loans (subsidized and unsubsidized) are an option for students. The Financial Aid office will determine a student’s Direct Loan eligibility based on the information provided on the student’s FAFSA, the student’s cost of attendance (COA), financial need, other financial aid awarded, and year in school.

The student will be notified of eligibility via the Award Notice. The loan(s) offered may be accepted, reduced or declined in MaineStreet. Once the loan is accepted, proceed as instructed. More Direct loan information is available at UMFK's Federal Direct loan webpage.

The Direct Loan Entrance and Master Promissory Note:

First-time Direct Loan (DL) borrowers are required by Federal law to complete Entrance counseling and the (DL) Master Promissory Note (MPN) before any loan funds can be received. Entrance Counseling will inform you of your rights and responsibilities as a loan borrower and you will be given information to help manage repayment. A (DL) Master Promissory Note is your written promise to repay the principal and the interest of the loan according to the terms indicated in the Note. Both these processes can be completed online at: studentloans.gov. The student’s FSA ID is required. Apply for a FSA ID, or retrieve a forgotten FSA ID at the Department of Education's FSA ID website.

Direct Loan Repayment:

Repayment on the principal amount that you borrow, as well as any interest that accrues while in your grace period and/or in and out of school, begins after a student graduates, leaves school, or drops below half-time status. A student with unsubsidized Direct Loan(s) is responsible for the interest while in school, as well as the six-month grace period. Visit UMFK's education loans webpage or the Federal Student Aid website for more information.

Borrowing History:

To check your federal loan borrowing history, go to the Federal Student Aid website. You will need your FSA ID to login. Apply for, or retrieve your FSA ID at the FSA ID website. Note that NSLDS will only display federal aid programs – monies borrowed through state or alternative loan programs will not appear on this site.

Direct Loan Contact Information:

Direct Loans are processed through the Department of Education; however, Direct Loans are serviced by several agents, known as Servicers. To locate your loan Servicer go to the Federal Student Aid website. You will need your FSA ID to login. Apply for, or retrieve your FSA ID at the FSA ID website. For repayment questions, you may contact your loan Servicer directly, or you may contact the Direct Lending program at: 1-800-557-7394.

Federal Loan Information:

Get all the information you need to manage repayment of your federal student loans at the Federal Student Aid loan repayment webpage.

Other Loan Options

The Parent Plus Loan and the Alternative Loan programs are other loan options that may be available to help parents and students pay college costs. These loans can help supplement what is not covered by the award package offered to the student by the school. Federal Loans are usually the best deal and offers the most benefits. More information on these loan programs is available at UMFK's education loans webpage.

Exit Counseling

Direct loan borrowers who leave UMFK or drop below half time enrollment, (including graduating, transferring, withdrawing, or for those who are planning to not return to UMFK for their next semester of attendance) are required to complete the Direct Loan Exit Counseling Sessions. The Exit counseling session will provide loan borrowers with important information regarding the repayment process, including deferment, forbearance and payment arrangements which will assist the student in managing their loans.

Loan borrowers who leave campus without completing appropriate Exit sessions will have a school “HOLD placed on their student account in MaineStreet. The HOLD will remain until the appropriate Exit Counseling session(s) is/are completed. A “HOLD” on an account will prevent a student from acquiring transcripts, diplomas and registering for classes at UMFK and other University of Maine campuses. Exit counseling information and links are available from the UMFK exit counseling webpage or the Federal Student Aid website. You will need your FSA ID to login. Apply for, or retrieve your FSA ID at the FSA ID website. If you borrowed from both Direct and Perkins loan programs, two separate Exit sessions are required.

Direct Loan Exit Assistance:

The UMFK Financial Aid Office is available to assist students with Direct Loan Exit Counseling questions and/or Direct Loan HOLD placed on a student’s record in MaineStreet.

Satisfactory Academic Progress (SAP)

Satisfactory academic progress must be maintained for a student to continue to receive financial assistance. A copy of the current UMFK Financial Aid Satisfactory Academic Progress Policy is available online.