Financial Aid for Graduate Students

Aid Options for UMFK Graduate Programs

If you are interested in one of our graduate programs, such as our Master of Science in Nursing MSN or Doctor of Nursing Practice DNP and would like to be considered for federal financial aid, a Free Application for Federal Student Aid (FAFSA) is required and can be completed on the Federal Student Aid website.

Important Things to Know:

• Financial aid is limited to a Direct Unsubsidized Student Loan
• The annual loan limit for eligible graduate and professional students is $20,500
• You must be enrolled half-time for loan consideration
• Half-time status is 3.0 credits
• You must not have reached their aggregate loan limits
• You must not be in default on prior education loans

The financial aid application process for graduate students is similar to the process for undergraduate students, with a few important differences:

• Graduate students are considered independent for the purposes of filing a FAFSA. Therefore, parent information is not required on the FAFSA.
• You must be accepted into a UMFK graduate program.

Additional federal loan information is available at the Federal Student Aid website and its Interest Rates and Fees for Federal Student Loans page.

Master of Science in Nursing (MSN) Graduate Program Basics

1. You must be accepted into the MSN Graduate Program
2. Cost: $500 per credit hour (for 2023-2024)
3. One class is usually 3.0 credit hours, which would cost an estimated $1,500
4. Payment for the class(es) is due to UMFK five (5) days before your course(s) begins.
5. The total credits required to complete the program is 43 credits
6. The time to complete the program may vary. If one class is taken every 7-week session, it would take about 2.5 years to complete.
7. The only aid available, if eligible, is the Unsubsidized Direct Loan
8. You must be enrolled half-time (i.e., 3.0 credits) for loan consideration
9. You must not have reached your aggregate Federal Direct Loan limits
10. You must not be in default on prior educational loans
11. For loan consideration, a FAFSA is required. Fall 2023/Spring 2024 and Summer 2024 semesters require the 2023-2024 FAFSA. The FAFSA can be completed at the Federal Student Aid website. Application is available for completion beginning in October 2022.
12. Completing a FAFSA requires an FSA ID and password. Apply for an FSA ID at the Federal Student Aid website.
13. Part of the loan application requires you to complete or already have completed an Entrance Counseling Session and a Master Promissory Note (MPN). Both items can be completed at the Federal Student Aid website. Note: Completed Undergraduate Entrance and Master Promissory Note (MPN) are acceptable and valid, assuming MPN has not expired.
14. Once processed, your aid offer will be available to view/accept/decline in your Student Center in MaineStreet under the “Finances” section.
15. If interested in a loan, the desired loan amount (not to exceed the offered loan amount) must be accepted by you in MaineStreet.
16. The Academic Advisor for this program is Erin Soucy (Email: esoucy@maine.edu, Phone: (207) 834-7830). Contact Erin for program details.
17. Additional federal loan information is available at the Federal Student Aid website and its Interest Rates and Fees for Federal Student Loans page.