by our College Data Analytics TeamA lot of students will never be charged the full, advertised sticker price of a school. Instead, they will be given a financial aid offer that will include a combination of scholarships, grants, loans, and work-study. The sum total of attendance at University of Maine at Fort Kent can sound overwhelming, but bear in mind that many students get some type of financial aid.
Just what financial assistance solutions will UMFK provide, and just what are you going to be eligible for? Read on for answers. Read on to discover just how much financial aid could be open to you.
The amount of financial aid you can receive varies from person to person and will depend on your family’s economic situation. The information provided on this page can help you determine how much aid you may receive from University of Maine at Fort Kent.
Financial aid, in the form of loans, grants, work-study, and scholarships, is one way colleges reduce the cost of attendance so most students can actually afford to attend. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
At University of Maine at Fort Kent, 97% of first-time, full-time freshmen received some form of financial aid around 66 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 97% | $9,731 |
| Institutional grants & scholarships | 88% | $6,640 |
| Federal Pell grants | 43% | $5,623 |
| State/local grants | 41% | $2,267 |
| Federal student loans | 34% | $4,875 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. Across the undergraduate body at UMFK, approximately 29% of the undergraduate population received grant aid that averaged $7,422 (covering around 392 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 29% | $7,422 |
| Federal Pell grants | 15% | $4,668 |
| Federal student loans | 18% | $6,576 |
For students living on campus and receiving title-IV aid, grants averaged $11,221.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $7,277 |
| $30,001 – $75,000 | $10,744 |
| Over $75,000 | $15,171 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
After grants and scholarships come off the published price, what remains is the net price — the best estimate of true out-of-pocket cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $7,482 |
| Off-campus title-IV students | $10,865 |
For a personalized estimate based on your family’s financial situation, use UMFK’s NPC: www.umfk.edu/admissions/financialaid/basics/.
The middle student in the debt distribution at UMFK owes $12,778 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $12,778 |
| Median federal debt (graduates only) | $20,160 |
| Typical 10-year monthly payment (graduates) | $213.73/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
Looking only at the median can be misleading because it hides the spread. The figures below chart the debt distribution at UMFK.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $5,500 |
| 75th percentile | $22,300 |
| 90th percentile (highest-debt students) | $28,553 |
Median debt varies by family income, by first-generation status, and by dependency status.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $14,750 |
| Middle income | $12,250 |
| High income | $12,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $12,500 |
| Continuing-generation students | $14,000 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $11,770 |
| Independent students | $14,928 |
The figure below distills the debt data into a single burden category for UMFK.
Stafford loans are the federal government’s primary direct undergraduate lending program. Below is the annual Stafford program activity at UMFK:
| Metric | Value |
|---|---|
| Stafford loan recipients | 3311 |
| Total Stafford loan amount | $49,008,543 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 20 |
| Total GI Bill amount | $80,111 |
| Average GI Bill amount per recipient | $4,006 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 1 |
| Total DoD amount | $3,750 |
| Average DoD amount per recipient | $3,750 |
References
More about our data sources and methodologies.