This document summarizes various financial aid opportunities for the 2009/2010 and 2010/2011 school years. It discusses grants like Pell Grants and state grants that do not need to be repaid. It also outlines scholarships available for students with special qualifications. Loans like Perkins and Stafford loans are discussed. Finally, it provides information on the Federal Work Study program which allows students to earn money for school through on-campus jobs.

1. Financial Opportunities in 2009/2010

2. A Note
 The financial aid package assembled for you by your
university typically draws upon grants, scholarships,
work study or other funding for which you may be
entitled. This presentation is designed to help you
become more informed about these sources of aid.

3. Grants
A grant is a need-based form of financial aid that does
not have to be repaid.
 Federal Pell Grants are the most common form of federal aid.
They are need based, provided by the federal government and
awarded by schools.
Did you know that additional Pell Grant funds may be
available for unemployed or underemployed workers?
NEW - Maximum Pell Grants:
2009-2010 school year - $5,350 (beginning 7/1/09)
2010-2011 school year - $5,550 (beginning 7/1/10)

4. Grants
 Federal Supplemental Educational Opportunity Grant
are awarded by schools and provide assistance
for undergraduates with the greatest financial
need. The program gives priority to students who
receive Federal Pell Grants.
 Maine State Grant Program is a need-based
state grant award to Maine undergraduate
students. The FAFSA (May 1 deadline) serves as
the application for this program.

5. Grants
 University Grants are awarded by UMS institutions
based on financial need and availability of funds.
 Federal SMART Grant assists majors in physical,
life, computer sciences, mathematics, technology,
engineering, foreign language; or non-major single
liberal arts programs.

6. Scholarships
Scholarships help you pay for undergraduate tuition. Like grants,
they do not have to be repaid. Generally, they are reserved for
students with special qualifications. Examples include:
 North American Indian Waiver & Scholarship Program
waives tuition, fees, and on-campus room and/or board for
qualified and eligible North American Indians residing in Maine.
 The Competitive Skills Scholarship is open to adult workers
and pays for education and training (including apprenticeships)
for jobs in demand in Maine
Check your university’s financial aid office for all available
scholarships.

7. Loans
 Federal Perkins Loans are available to students who
demonstrate financial need. They are federally funded
and awarded by the school.
 Federal Stafford Loans (subsidized & unsubsidized) are
awarded on the basis of financial need and are regulated
by the federal government. A subsidized Stafford Loan is
the loan of first choice, since the government pays the
interest while students are in school.
 Federal PLUS Loans are for parents of undergraduate
students. They are based on credit history and require a
credit check.

8. Work Study
 Federal Work Study Program allows you to subsidize
your tuition and expenses with on-campus (including
centers and sites) jobs.
To be eligible, you must demonstrate financial need, be
enrolled in a degree or certificate program, and take at
least six credit hours each semester.
New: In 2009, the Federal Work-Study Program received
an additional $200 million, enough to pay for approximately130,000
new work-study jobs averaging $1,500 per job per year

9. For more information
Contact your local University College center:
www.learn.maine.edu/ucenters.php
or call 1-800-868-7000