USM Graduate Catalog 2007-2008

Financial Aid

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[Application Procedures | Eligibility for Aid
Eligibility for Financial Aid During Doctoral Studies
How Financial Aid is Allocated
Tuition | Types of Aid Available]

Students admitted to a master’s degree program at the University are eligible to apply for financial aid from a variety of sources. The Student Financial Aid Office administers loans and employment programs for financially needy students. Maine lending institutions offer eligible students low interest student loans. Some employers offer assistance in the form of tuition reimbursement, flexible scheduling, or paid educational sabbaticals. Scholarship assistance may also be available from organizations, clubs, or religious groups of which the student or his or her family is a member. The University is also approved by the Veterans Administration for payment of veteran’s benefits.

Eligibility for Aid

To receive financial assistance, a student must be admitted into a degree program at the University and must be enrolled in 6 credit hours that can be applied to the graduate program requirements for a semester. Aid can be granted only to U.S. citizens and eligible non-citizens. You must also be registered with the Selective Service if you are a male, at least 18 years old, and born after December 31, 1959. If you believe you are not required to be registered, please call the Selective Service Office for information regarding exemption.

It is important to remember that financial aid is intended to supplement a student’s resources. A basic principle of financial aid programs is that the student and his or her family are expected to contribute, when able, from income and assets to meet college costs.

The deciding factor in the establishment of a student’s eligibility for most financial aid programs is that of documented financial “need&”; that is, when an applicant has been determined to have insufficient family resources to meet the cost of attending the University of Southern Maine, she or he is eligible for assistance. Since the federal government provides most of the funds the University allocates to its students, family resources are assessed in accordance with a formula required by the U.S. Department of Education.

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 in a separate publication entitled “Financial Aid Satisfactory Academic Progress Policy” available in the Student Financial Aid Office, and at the following Web site: www.usm.maine.edu/fin.

A student must not owe a refund on a federal grant or be in default on a federal educational loan. Students who are in default or owe a repayment are not eligible for assistance.

No student should fail to apply for admission because she or he cannot pay the full cost of an education. The Student Financial Aid Office administers a significant and versatile program. When a student’s financial resources are insufficient to meet educational expenses, loans or employment can usually be made available. If funds are not available from the University, the Student Financial Aid Office helps students explore other potential sources of aid.

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Eligibility for Financial Aid During Doctoral Studies

To be eligible for federal financial aid (including deferment of student loans) a matriculated Ph.D. student must meet one of the following conditions:

• are enrolled in at least 6 academic graduate credits
                or
• has obtained a certificate of satisfactory progress from the chair of the committee, indicating that the student is continuing to actively pursue studies leading to the doctoral degree, and is registered for GRS 701. (Note: This applies to students taking anything less than 6 academic credits.)

GRS 701 is a 1-credit course that permits doctoral degree candidates to retain eligibility for financial aid, including University-funded fellowships, scholarships, and graduate assistantships, and access to University services including the USM Libraries and Internet.

Ph.D. students may continue to be eligible for externally funded research assistantships, but not for federal financial aid or University-funded graduate assistantships provided the student maintains continuous enrollment by registering for GRS 601 and provides a certificate of satisfactory progress from the committee chair.

Upon completion of the dissertation proposal, the student must register for 12 credits of PPM 799 Dissertation. These credits may be taken in any semester(s) of the student’s choice, but the student remains subject to the rule of continuous enrollment at USM and should take into account individual needs to be designated as full- or part-time students and register for these 12 credits accordingly.

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Application Procedures

To apply for financial assistance from the University of Southern Maine, you should file your Free Application for Federal Student Aid (FAFSA) or your Renewal FAFSA on the Web at www.fafsa.ed.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 deadline, applicants must ensure that their FAFSA data is received at the institution by March 1. Students should submit the FAFSA to the federal student aid programs by February 15 to meet the USM March 1 deadline.

Applications are accepted after the priority filing dates, although the type and amount of aid offered may be reduced subject to funding limitations. Applicants who file after the priority filing date will probably receive delayed notification and may not have funds available in time to pay semester bills.

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How Financial Aid is Allocated

The University begins reviewing student aid applications in early spring. Once a student is accepted, all necessary financial aid application materials are received, and the University is told how much federal aid it will have for students, a notice of eligibility is sent. If a student receives outside scholarship funds, the amount of aid from the University may have to be reduced.

The amount a student receives is determined by subtracting the student’s resources from a budget computed by the Student Financial Aid Office. This budget is based on typical living and educational costs for students and may be adjusted if unusual non-discretionary expenses exist.

Even after a student is allocated funds, the amount of aid may be adjusted if the student’s financial situation changes. Students must promptly report any of the following to the Student Financial Aid Office: a change in residence; a change in the number of credit hours attempted; or the receipt of financial aid from sources other than the Student Financial Aid Office.

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Types of Aid Available

Graduate Assistantships are available in most programs. Graduate assistantships serve three purposes: to provide financial support for students, to enhance students’ professional and scholarly development, and to support faculty scholarship and teaching. The assistant is required to pursue graduate studies (at least 6 hours of credit per semester). In compensation, the assistants are paid a yearly grant. Some assistantships are accompanied by a limited tuition waiver. Assistantships are awarded by the Office of Graduate Studies on the recommendation of the individual graduate programs. Interested students should first contact their graduate program director or the Office of Graduate Studies.

Federal Work Study is a program funded by the University of Southern Maine and the federal government. A student’s financial need governs the amount that can be earned.

Federal Perkins Loans are funded by the federal government, the University, and former borrowers repaying loans. No repayment is required until after the student ceases his or her education. Once repayment begins, the student is charged 5 percent simple interest on the amount borrowed. While the monthly repayment amount varies with the amount borrowed, a minimum of $40 must be repaid each month.

Federal Subsidized Stafford Loans is a program sponsored by the federal and state governments that allows students to secure low-cost loans. Eligibility for subsidized Stafford Loans is based on demonstrated financial need.

Federal Unsubsidized Stafford Loans is a program under the Federal Family Education Loan Program that provides access to borrowing for students who do not qualify for need-based assistance. The student is responsible for the interest as it accrues.

PLUS Loans  This program sponsored by federal and state governments allows graduate and law students to secure relatively low-cost, credit-based loans. Graduate and law students are able to borrow up to their cost of attendance minus other estimated and actual financial assistance under the PLUS Loan program. Graduate and law students must file a FAFSA and must have their annual loan maximum eligibility under the Stafford Loan program determined before they apply for a PLUS Loan. PLUS Loan request forms for graduate and law students are available at the Student Financial Aid Office.

Alternative Loans are credit-based loan programs which provide long term financing options for qualified students. Additional information about these programs may be obtained from the Student Financial Aid Office. Some lenders may also have their own private educational loan programs. Check with the lender for more information.

North American Indian Programs  Tuition, mandatory fees, and on-campus room and board will be waived for qualified and eligible North American Indians residing in Maine. Eligibility is extended to 1) the person whose name is included on the current census of either the Passamaquoddy or Penobscot Tribes; and 2) the person who has resided in Maine for at least one year and whose name, or the name of at least one of their grandparents, was included on the census of a North American Tribe OR held a band number of the Maliseet or Micmac Tribes with direct blood lineage. For additional information, contact the Wabanaki Center at (207) 581-1417. Visit the Office’s Web site at www.naps.umaine.edu/eligibility.html.

University Tuition Waivers  A limited number of tuition waivers are granted to outstanding entering graduate students. Students are nominated by faculty admission committees. Applications for admission to graduate study must be completed and received by January 15.

Veterans Educational Benefits  Students eligible for educational assistance from the Veterans Administration are encouraged to contact the Veterans Affairs Office 30 days before the start of each semester. The Veterans Affairs Office is located in the Enrollment Services Center.

Trustee Tuition Scholarships  A limited number of scholarships is available. The awards are based on academic achievement and promise, special talents, potential to make unique contributions to the University community, and USM’s commitment to expanding the pluralistic character of its student body. Further information may be obtained from the individual graduate programs.

For additional information, contact the Student Financial Aid Office, University of Southern Maine, Corthell Hall, College Avenue, Gorham, Maine 04038 or telephone (207) 780-5800, or online at www.usm.maine.edu/fin.

Offers of financial aid are conditional upon receipt of funds from all funding sources. The Student Financial Aid 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 regulation and/or procedures mandated by University, state, or federal authorities.

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