The Student Financial Services office administers, coordinates, and recommends a variety of programs of financial aid. Financial aid includes grants, scholarships, loans, and Federal Work Study to assist students with the financial costs associated with attending USM.
Specific examples of financial aid programs include the following:
- the U.S. Department of Education offers eligible students low interest student loans,
- some employers offer assistance in the form of tuition reimbursement, flexible scheduling, or paid educational leaves,
- scholarship assistance may also be available from organizations, clubs, or religious groups of which the student or their family is a member,
- the University is also approved by the Veterans Benefits Administration for payment of veterans’ benefits.
Student Financial Services offices are located in Bailey Hall in Gorham, in Luther Bonney Hall in Portland, and at the Lewiston-Auburn Campus. For more detailed information about the application process, the funds available and the priority filing dates and deadlines, visit us on the Web at http://usm.maine.edu/student-financial-services.
Eligibility for Aid
To receive most types of financial assistance, a student must be admitted into a degree program at the University and, in most instances, must be enrolled for at least 6 credit hours for a semester. Federal financial aid can be granted only to U.S. citizens and eligible non-citizens.
Many financial aid programs require that students demonstrate “financial need” to be eligible for funds. At the University of Southern Maine, demonstrating “financial need” is calculated using information from the Free Application for Federal Student Aid (FAFSA) combined with average educational costs incurred by our students. The FAFSA collects information about family resources to assess and determine financial need.
Aid applicants must also meet standards of Satisfactory Academic Progress in their chosen course of study. These standards are set by the University in accordance with federal financial aid regulations and are in addition to the requirements established by the dean or director of an academic program. A full explanation of these standards may be found at the following website: https://usm.maine.edu/student-financial-services/maintaining-financial-aid-eligibility.
Application Procedures
To apply for financial assistance from the University of Southern Maine, students should file a Free Application for Federal Student Aid (FAFSA) or a Renewal FAFSA on the Web each year at http://www.studentaid.gov.
Students are encouraged to apply for assistance as early as possible. To ensure a fair distribution of funds, a priority filing date is established. To meet USM’s priority deadline for the 2024-2025 aid year, applicants must ensure that their FAFSA data is received at the institution by April 1. Students should submit the FAFSA online at http://www.studentaid.gov by March 15 to meet the USM April 1 deadline. Please note that the priority deadline is typically February 1st but for the 2024-2025 aid year only was extended to April 1st due to FAFSA delays at the federal level.
After a student is allocated aid, the amount may be adjusted if the student’s financial situation changes. Students and parents must promptly report any of the following to the office of Student Financial Services:
- a change in the number of credit hours enrolled in,
- changes in housing plans,
- the receipt of financial aid from sources other than the Student Financial Services office.
If you have changes to your family circumstances, you can contact the Student Financial Services Office to discuss any options for a financial aid appeal.
For additional information
Contact the Student Financial Services office, University of Southern Maine, 101 Bailey Hall in Gorham, 136 Luther Bonney Hall in Portland, by telephone (207) 780-5250, or online at http://usm.maine.edu/student-financial-services.
Offers of financial aid are conditional upon receipt of funds from all funding sources. The Student Financial Services office reserves the right to revise offers of financial aid at any time during the year based on availability of funds and/or changes in regulations and/or procedures mandated by University, state, or federal authorities.
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