Financial Aid Basics

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Federal Financial Aid University Aid Understanding the Process

There are basically three types of federal student aid:

• Grants - free money
• Work-Study - money you earn
• Loans - money you pay back at a later date

More information is available from:

• The Federal Student Guide
• Get Money for College at: studentaid.ed.gov
• Tools and Resources at: studentaid.ed.gov

University aid is financial assistance provided to students available from University funding. For UMFK this type of assistance is usually in the form of scholarships, (i.e. free money). Some of these funds are from various donations made by community members, as well as alumni.

The following links have been made available to assist you with sources of financial aid information.

• Prepare for College
• Applying for Admission
• FAME - Financial Aid Basics
• Mapping Your Future
• Financial Aid Facts
• Glossary of Financial Aid Terms
• The Federal Student Guide (download links)
• Student Aid on the Web - Preparing for your Education
• Popular Resources for high school students, undergrads, & parents (Courtesy: ECMC.org)
• FAFSA (Free Application for Federal Student Aid)
• Federal Student Aid Gateway
• Getting Your Federal Student Aid PIN
• U.S. Dept. of Ed.'s student aid programs
• Finance Authority of Maine (FAME)
• Senior Year College Planning Calendar (Courtesy: Mapping Your Future)
• College Planning Calendar (Courtesy: studentaid.ed.gov)
• KnowHow2Go.org
• Federal Versus Private Loans
• Education Planner.org
• First Steps toward College
• FAQs
• FAFSA Help (Courtesy: www.fafsa.ed.gov)
• How to Pay for College (Youtube video series courtesy: College.gov)