The Office of Student Financial Services is committed to helping you obtain a quality education at an affordable cost. Our goal is to ensure that you have the information you need to make the best decision about financing your education at the University of Maine at Presque Isle.
This website complements your official University of Maine at Presque Isle Financial Aid Package. Please use the information provided to:
- View your financial aid eligibility based on your FAFSA information
- Understand the different types of aid available at our campus
- Estimate your educational expenses
- Discover additional financing options
Understanding Your Offer Letter
Student Aid Index:
The information you reported on your FAFSA is used to calculate your Student Aid Index (SAI). Your contribution is determined using federally-defined formulas which take into consideration factors such as income level, assets, and household size.
The SAI is used to determine your federal student aid eligibility and financial aid offer.
The SAI measures your family’s financial strength and is used to determine your eligibility for Federal student aid during one academic year. Your SAI will be displayed on your Student Aid Report (SAR) after your FAFSA is processed.
Your SAI is not the amount of money your family will have to pay for college, nor is it the amount of Federal student aid you will receive. It is the number we will use to calculate the amount of Federal student aid you are eligible to receive.*
*Source: www.fafsa.gov
Residency:
The tuition and fee rate at which you will be billed.
- Resident (in-state)
- Non-resident (out-of-state)
Housing Plans:
Reporting Housing
Report changes to your housing plan to our office as soon as possible so any required adjustments can be processed. Housing choices include on-campus, off-campus, or living at home with family. You may also contact the office by calling 207.768.9510 or emailing umpi-financialaid@maine.edu.
- Login at my.umpi.edu
- Select Classic Student Center
- Select Accept/Decline Awards under Finances
- Select the 2025 Aid Year
- Report a housing change under the Student Housing and Graduation screen
For technical assistance logging into MaineStreet, contact the IT Help Desk at 207.768.9626
Grade Level:
Determines the amount of federal student loans you are offered based on the number of credits earned.
Dependency Status:
Dependency status is determined based on information provided on the FAFSA.
If you are considered a dependent student while filing the FAFSA, you are required to provide parent financial information in order to complete the FAFSA. If you are considered an Independent Student while filing the FAFSA, you are not required to provide parent financial information in order to complete the FAFSA.
Please Note: Student dependency status is different from being claimed as a dependent on a tax return.
Click here to use the FAFSA Dependency Status Worksheet to determine what your status is. (https://studentaid.gov/apply-for-aid/fafsa/filling-out/dependency)
Enrollment:
The types and amounts of aid in your offer are based on an enrollment of 15 credits per semester. If you plan on enrolling in less than 12 credits each semester, it is important to report this information to the Office of Student Financial Services, as adjustments to your financial aid will be required.
Financial Aid Offer Changes:
There are many reasons a student’s financial aid offer may be revised. If the Office of Student Financial Services is required to make adjustments to the financial aid, the student will receive an electronic communication. The following are some reasons our office may be required to adjust your aid:
- FAFSA adjustments
- Enrollment changes
- Changes to housing plan
- Verification
- Additional aid (outside scholarships)
- Residency changes
- Changes to available funding
Types of Aid
Scholarships:
Scholarships can consist of merit scholarships, foundation scholarships or outside organizations. Scholarships are awarded based on a variety of criteria. Scholarships are considered gift aid and do not have to be repaid. https://www.umpi.edu/offices/student-financial-services/financial-aid/scholarships
Grants:
Grants are awarded based on the information provided on the FAFSA. Grant funds can come from the federal government, the state or the university. Grants are considered gift aid and do not have to be repaid.
Federal Pell Grant
Federal Pell Grants are awarded to students based on information provided on the FAFSA. The amount of your Federal Pell Grant depends on your cost of attendance, Student Aid Index (SAI) and enrollment status. Eligibility for other federal and non-federal grants may be based on eligibility for the Federal Pell Grant. With a few exceptions, Federal Pell Grants are available only to undergraduate students for a maximum lifetime limit of 12 semesters or its equivalent.
You do not need to apply separately for the Federal Pell Grant and there is no deadline to be eligible for the Pell Grant.
Federal Supplemental Grant
Federal Supplemental Grants are awarded to undergraduate students with exceptional financial need as determined by information provided on the FAFSA, specifically, the expected family contribution.
The Federal Supplemental Grant awards for eligible undergraduate students range from $100 to $4,000 for the academic year.
You do not need to apply separately for the Federal Supplemental Grant.
Source: Funding Education Beyond High School: The Guide to Federal Student Aid (PDF)
If you cannot access the PDF document, please visit studentaid.ed.gov.
State of Maine Grant
The State of Maine Grant is a need-based grant program for Maine residents. To apply, students must file the FAFSA by May 1.
You do not need to apply separately for the State of Maine Grant.
Federal Work Study:
Federal Work Study provides students with the opportunity to work part-time. Earnings from Federal Work Study are paid directly to students via a bi-weekly paycheck and are not applied directly to the student’s bill unless the student completes a payroll deduction form in the Office of Student Financial Services.
- To qualify, students must file the FAFSA and meet certain need-based criteria.
- The total amount of work study awarded is what the student is eligible to earn for the academic year. Work study award amounts are listed as part of the financial aid award in MaineStreet.
- Employment opportunities also exist for students who are not eligible to receive Federal Work Study.
- Students may utilize UMPI CareerLink, an online employment search tool, to search for available job listings.
For more information on Federal Work Study, available jobs and the procedure for beginning work as well as for general assistance and guidance, please visit the Student Employment website, stop by the office at 126 Preble Hall or call 207.768.9513.
Loans:
Federal Direct Loans
Federal Direct Subsidized Loans are need-based loans. The government pays the interest on the loan while the student is enrolled at least half-time and during other authorized periods called deferments. The amount of loan offered is based on academic grade-level. Loans disbursing on or after July 1, 2014 will receive the subsidy during the 6-month grace period. Once the grace period has been used, generally interest begins accruing on the principle as soon as the student is no longer enrolled or has dropped below half-time enrollment.
Federal Direct Unsubsidized Loans are available to students in addition to Direct Subsidized Loans and are not need-based. Also, all students are offered $2,000 in Direct Unsubsidized Loans for the academic year. The government does not pay the interest; the student can choose to either pay the interest while in school or have the interest added to the loan principal to be repaid later.
Federal regulations specify the maximum Federal Direct Loan amount any student can borrow each academic year depending upon grade level. Actual eligibility is specified on the University of Maine at Presque Isle financial aid offer and may be less than the annual maximum. Below are the loan borrowing limits per academic year (fall and spring).
Dependent Students
| Grade Level | Subsidized | Unsubsidized | Combined Subsidized and Unsubsidized |
|---|---|---|---|
| First-Year | $3,500 | $2,000 | $5,500 |
| Sophomore | $4,500 | $2,000 | $6,500 |
| Junior/Senior | $5,500 | $2,000 | $7,500 |
Independent Students
| Grade Level | Subsidized | Unsubsidized | Combined Subsidized and Unsubsidized |
|---|---|---|---|
| First-Year | $3,500 | $6,000 | $9,500 |
| Sophomore | $4,500 | $6,000 | $10,500 |
| Junior/Senior | $5,500 | $7,000 | $12,500 |
Federal Direct PLUS Loans are fixed-rate loans provided by the Department of Education to graduate students and parents of dependent undergraduate students. The lender must perform a minimal check of the borrower’s credit history. There is a 10-year repayment schedule, and deferment options are available. For graduate students, payments are automatically deferred while in school. All students must file a FAFSA in order for eligibility to be determined. Parents can apply for the Parent PLUS Loan through the Office of Student Financial Services. If approved for the loan, parents will also need to complete a Master Promissory Note in order to receive the funds.
Additional Direct Loan Eligibility
If a parent is denied a Parent Direct PLUS Loan, the dependent undergraduate student can be treated as an independent student and may be eligible for additional Direct Unsubsidized Loans. The student must contact our office if they would like to explore this funding option.
Interest Rates & Fees
The interest rates for Direct Loans with a first disbursement date on or after July 1, 2023 and before July 1, 2024 are:
- 5.50% on Subsidized & Unsubsidized Undergraduate Direct Loans
- 7.05% on Unsubsidized Graduate Direct Loan
PLUS Loans with a first disbursement date on or after July 1, 2023 and before July 1, 2024 will have an interest rate of 8.05%.
Alternative Loans
Private organizations provide alternative educational loans to students as either a supplement to other types of educational loans or to provide an additional source of loan funds. Most are credit-based loans, and some will require periodic payments of principal and interest once disbursed. Interest rates vary, and a separate application is usually sent directly to the lender which is then forwarded to our office for certification of the student’s status.
We strongly recommend that students apply for all Federal Direct Loan eligibility before applying for an alternative loan. Please be aware that if you do not apply for your entire Federal Direct Loan eligibility, certification of your alternative loan could be delayed. Please contact our office if you have applied for an alternative loan and do not wish to borrow your Federal Direct Loan.
Master Promissory Notes (MPN)
The Master Promissory Note (MPN) is a legal document in which you promise to repay your loans(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s); for example, it will include information on how interest is calculated, when interest is charged, available repayment plans, and deferment and cancellation provisions.
To complete an MPN online you will need your FSA ID.
Click the links below to complete an MPN:
Entrance/Exit Counseling
Entrance Counseling
Students who are first time borrowers of subsidized or unsubsidized Federal Direct loans must receive entrance counseling at or before the date the school can release the first loan disbursement. Entrance counseling is also required for Federal Grad PLUS loan borrowers who never previously borrowed a Federal Grad PLUS loan.
Entrance counseling helps ensure that the borrower understands the terms and conditions of the loan as well as his or her rights and responsibilities, before receiving the loan proceeds.
During Entrance Counseling, you will learn about the following:
- What a loan is and the loan process works
- Managing your education expenses
- Other financial resources to consider to help pay for your education
- Your rights and responsibilities
Click on the following links for more information:
Exit Counseling
Exit Counseling is an online educational course for borrowers of Federal Direct, Federal Grad PLUS, and Federal Perkins loans.The counseling is require for all borrowers who are no longer attending, or are currently registered for less than six credits. Exit Counseling needs to be completed even if you are planning to continue your education at another institution.
During Exit Counseling, you will learn about the following:
- Loan consolidation
- Loan deferment
- Repayment options
- Loan forbearance
Click on the following links or more information:
Loan Forgiveness Programs
Direct Loan Forgiveness Program for Teachers
The Teacher Loan Forgiveness Program is intended to encourage individuals to enter and continue in the teaching profession. Under this program, individuals who teach full time for five consecutive, complete academic years in certain elementary and secondary schools that serve under-resourced communities and meet other qualifications may be eligible for forgiveness of up to a combined total of $17,500 in principal and interest on their FFEL and/or Direct Loan program loans.
Federal Perkins Loan Teacher Cancellation
You qualify for cancellation (discharge) of up to 100 percent of a Federal Perkins Loan if you have served full time in a public or nonprofit elementary or secondary school system as a:
- teacher in a school serving students from under-resourced communities; or
- special-education teacher, including teachers of infants, toddlers, children, or youth with disabilities; or
- teacher in the fields of mathematics, science, foreign languages, or bilingual education, or in any other field of expertise determined by a state education agency to have a shortage of qualified teachers in that state.
Other Federal Student Loan Forgiveness Programs and Cancellations/Discharge
National Student Loan Data System (NSLDS)
The National Student Loan Data System (NSLDS) is the U.S. Department of Education’s central database for federal student aid records. You can use it to keep track of your federal loans, grants, work study. To access NSLDS, you will need to use your FSA ID. Click the link below to login into NSLDS:
National Student Loan Data System
Borrower Rights and Responsibilities
Your rights as a borrower
- You may accept all, some, or none of the student loan funds offered.
- You are entitled to a copy of your promissory note, which outlines the terms and conditions of your student loan, and will receive it before or after the loan is made.
- Before you begin to repay, your loan holder is required to give you a payment schedule and detailed information about interest rates, fees, the balance you owe, and your repayment options.
- You have a right to defer payments for certain defined periods or to request forbearance, if you qualify.
- You may be eligible to repay under a graduated or income-based repayment plan.
- For federal student loans and most private student loans, you may prepay in whole or in part at any time without penalty.
Your responsibilities as a borrower
- You must notify your school if you want to borrow less than the amount that has been awarded.
- You must repay your student loans on time and in full even if you do not finish your education, get a job, or feel satisfied with the education you received.
- You must notify your loan holder or servicer immediately of any change to your name, address, telephone number, or Social Security number.
- You must make scheduled monthly payments even if you do not receive a bill or coupon booklet.
- First-time Direct Loan borrowers must receive entrance counseling before funds can be disbursed.
Source: NASFAA
Payment Options for Traditional Students Only (Not YourPace)
Cash: Pay in person at the Office of Student Financial Services, 126 Preble Hall
Check: Mail to the Office of Student Financial Services, 181 Main Street, Presque Isle, ME 04769. Please include student ID number and student name with payment.
Installment plans
Students can set up a 5-installment monthly payment plan each fall and spring, and a 3 installment monthly plan for summer term courses via the MaineStreet Student Center (students) and TouchNet (authorized users).
Important Payment Plan Parameters:
- Payment plans must be set up each semester
- There can only be one calculated plan* per student per term regardless of whether the plan was established by the student or an authorized user
- There is no minimum balance to enroll
- A $30 enrollment setup fee and the initial down payment are due at the time of setup
- A $25 late fee will be assessed for each late installment payment
Fall
- 20% down payment if you select to enroll in the Fall August – December payment plan
- Set up by August 15th to avoid late fees
Spring
- 20% down payment if you select to enroll in the Spring December – April payment plan
- Set up by January 15th to avoid late fees
Summer
- 34% down payment if you select to enroll in the Summer June – August payment plan
- Set up by May 15th to avoid late fees
Calculated Plan*:
This plan option will base the payment plan on the student’s full balance (less any financial aid) due on the account at the time of enrollment in the payment plan.
For the Fall or Spring, payments will be divided into 5 installments: a 20% down payment, and the remaining installments as four equal payments.
For the Summer term, payments can be divided into three installments (May through July) with a 34% down payment.
The Calculated Plan is available for the Fall, Spring, and Summer terms.
Online Payment
Online payments (electronic check or credit card) can be made through your MaineStreet Student Center.
ACH (Electronic Check) Payments
You can make an ACH (Electronic Check) payment through your Student Center on MaineStreet. An ACH payment must be from a U.S. bank checking or savings account. There is no fee for this service.
Credit Card Payment Option
Payment with credit card can only be made online through your MaineStreet Student Center. Payment may be made with VISA, MasterCard, Discover, or American Express. Online credit card payment services are provided by TouchNet, an external payment processing company. TouchNet will add a non-refundable convenience fee charge of 2.95% (minimum $3.00) for all credit card payments.
International Payments
International payments can be made through TransferMate.
TransferMate
Benefits of paying with TransferMate:
- Peace of mind that your payment will be received in full and on time
- Allows you to pay in your local currency to a local bank account
- Great exchange rates and zero banking charges
- Ability to track your transaction throughout the payment process
- No need to worry about exchange rates fluctuations
- 24-7 customer support
For questions about paying with TransferMate, you can email edu@transfermate.com
Bank ACH and Wire Transfers for US Currency
If you are unable to make payment through MaineStreet, you may authorize your banking institution to transfer US funds to the University of Maine via ACH or wire. Please contact the Office of Student Financial Services at 207.768.9545 for ACH or wire transfer instructions.
Tuition Waivers
Tuition waivers are processed through the UMS Employee Benefits Center. Completed request forms should be sent via email to benefits@maine.edu or fax to 207.561.3454. Please call the Employee Benefits Center at 207.973.3373 or toll free at 866.269.9635 with any questions.
Employee Tuition Waivers
The Request for Employee Tuition Waiver (PDF) is available here.
Full-time, regular employees are eligible for a maximum of two tuition-free courses per semester or summer session, not to exceed four credit hours per course.
Part-time, regular employees are eligible for a maximum of one tuition-free course per semester or summer session, not to exceed four credit hours per course.
Dependent Tuition Waivers
The Request for Dependent Tuition Waiver (PDF) is available here.
A full-time, regular employee’s spouse, domestic partner, or dependent child is eligible for a 50% tuition waiver for tuition only, provided the spouse or dependent is attending the University of Maine System, and certain criteria are met.
A part-time, regular employee’s spouse or dependent child is eligible for a 25% tuition waiver for tuition only, provided the spouse or dependent is attending the University of Maine System, and certain criteria are met.
Additional Resources
MaineStreet – Access and Communication
MaineStreet is UMPI’s online student portal. It is an important communication tool that houses your demographic, academic, and financial information. MaineStreet also provides notifications on additional information we may need from you or the status of your student account.
Use the activation code in your acceptance letter to activate your MaineStreet account.
For assistance receiving your activation information, contact UMPI’s Information Technology at 207.768.9626
Satisfactory Academic Progress
Federal financial aid regulations require financial aid recipients to make progress toward earning their degree. This requires students to stay above specific GPA minimums and complete the degree within a maximum timeframe. You can lose eligibility for aid if you are not doing well in your class and/or if it is taking a very long time to earn your degree. (https://www.umpi.edu/offices/wp-content/uploads/sites/4/2018/03/sap-policy.pdf)
FERPA (Family Educational Rights and Privacy Act)
The Family Educational Rights and Privacy Act of 1974 (FERPA) protects the privacy of student information. Under this Act, students have the right to inspect and review their education records and have the right to challenge records when they are inaccurate, mislead, or otherwise in violation of the student’s privacy rights.
Next Steps
Contact Us
Hours of operation: 8:00 AM-4:30 PM
In person: 126 Preble Hall
Phone: (207) 768-9510
Email: umpi-financialaid@maine.edu
Mailing Address: Student Financial Services, 181 Main Street, Presque Isle, ME 04769
Glossary
Copy from https://umaine.edu/sfs/glossary/