Financial Aid

Financial Aid Basics

Federal Financial Aid

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

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.

Understanding the Financial Aid Process

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

• Prepare for College
• Choosing a School
• FAME - Financial Aid Basics
• Mapping Your Future
• Financial Aid Facts
• Glossary of Financial Aid Terms
• The Federal Student Guide (download links)
• Popular Resources for high school students, undergrads, & parents (Courtesy: ECMC.org)
• FAFSA (Free Application for Federal Student Aid)
• Seven Easy Steps to the FAFSA: A Student's Guide to the Free Application for Federal Student Aid (Courtesy: The Regents of the University of California)
• Federal Student Aid Gateway
• Getting Your Federal Student Aid FSA ID
• U.S. Dept. of Ed.'s student aid programs
• Finance Authority of Maine (FAME)
• Senior Year Planning for College Calendar (Courtesy: Mapping Your Future)
• College Preparation Checklists (Courtesy: studentaid.ed.gov)
• KnowHow2Go.org
• Federal Versus Private Loans
• Education Planner.org
• Middle School College Prep Checklists
• FAQs
• FAFSA Help (Courtesy: www.fafsa.ed.gov)
• How to Pay for College (YouTube video series courtesy: College.gov)