Financial Aid

You can apply for most forms of federal, state, and institutional aid by submitting the Free Application for Federal Student Aid (FAFSA) each year.

To ensure priority consideration for any need-based financial aid and to take advantage of the best available funding, file your 2024-2025 FAFSA by March 15th to meet our April 1st priority deadline. The University of Southern Maine’s Title IV institution Code is (009762).

Once your 2024-2025 FAFSA is submitted you’ll receive a summary of the information you provided from the Department of Education called a FAFSA Submission Summary (FSS). Carefully review the FSS to make sure that all the information is accurate as USM will receive the same information. After your FSS is processed, we will determine your financial aid eligibility and send you a financial aid notification that lists the funding you can receive.

You may be selected for a process called verification in which case you will be required to submit additional documentation to our office. We may also request documentation to satisfy additional federal eligibility requirements. Please submit all required documents in a timely manner so that we may send your financial aid notification as soon as possible.

Scholarships may require the submission of other applications, depending on the scholarship source. See scholarships for more information.

There are resources to assist you:

Federal privacy laws limit the use of FAFSA information to the determination of financial aid eligibility or other very limited uses. Colleges and universities are required to protect the confidentiality of student and parent data

Yes.  The information provided on your FAFSA is used to determine eligibility for financial aid programs such as need-based grants, federal work study and student loans. You are NOT required to accept loans or federal work study if they are offered to you. Some scholarships also require the FAFSA to be filed. A student’s or family’s situation may change at any time, so having the FAFSA on file makes it easier and faster to work with the financial aid office in the event that a student chooses to appeal their FAFSA information/ financial aid eligibility.

If you are considered dependent for financial aid purposes, you must provide parent information on the FAFSA. However, your parent is not obligated to pay for college expenses or borrow loans as a result of filing the FAFSA. If you have any special circumstances, please discuss your options with a financial aid counselor.

Financial aid staff in the Student Financial Services Office are available to offer assistance with understanding requests for information or documentation to ensure you are able to complete the requests and move forward with the financial aid process. 

Schools that disburse financial aid are required to verify any FAFSA that is chosen by the federal government for the verification process. If your FAFSA has been chosen for verification for award year 2023-2024, there will be a comment on your Student Aid Report (SAR); or for award year 2024-2025, on your FAFSA Submission Summary (FSS) . The federal government stipulates specific documents that may be used to verify items on the FAFSA. If you have questions about the documents required, please don’t hesitate to contact our office directly.

The awards on your financial aid offer are based on a specific enrollment, so any changes in enrollment could affect eligibility for certain types of financial aid.

The minimum number of credit hours to receive most types of financial aid is six credits each semester for Undergraduate and Law students.  The minimum number of credit hours for Graduate students is three credits each semester beginning in Summer 2019 (six credits per semester minimum prior to Summer 2019).  

Subsidized loans do not accrue interest while a student is enrolled at least half-time in a degree-seeking program. Upon dropping below half-time enrollment, interest will begin to accrue. Interest begins accruing immediately on an Unsubsidized loan regardless of a student’s enrollment status. See Federal Student Aid: Subsidized and Unsubsidized Loans for additional information.

This refers to potential eligibility for either Federal PLUS loan or Alternative Loan. The most current information on Direct PLUS and private Alternative loans is available online.

Graduate students, law students and parents of dependent undergraduate students may choose to apply for a credit-based Federal Direct PLUS Loan to cover the student’s educational expenses.

Graduate and Law students only – your Graduate PLUS Loan offer is available on MaineStreet. You may ACCEPT / DECLINE your award options once and only once by visiting MaineStreet.  By accepting your Direct PLUS Loans on MaineStreet you authorize that the U.S. Department of Education and its agents to conduct a credit check and use the information from that report to determine your eligibility for a Federal Direct Graduate PLUS Loan. If you do not authorize the U.S. Department of Education and its agent to conduct a credit check, you must provide a written statement to the USM Student Financial Services. Your Graduate PLUS loan will then be canceled.

Please visit the USM Student Financial Services web site for additional information on the Federal PLUS Loan.


The amount listed on your financial aid offer may be accessed by applying for a private educational loan. Alternative Loan information is available online.

Please review our Understanding Your Financial Aid Offer brochure for important information regarding your rights and responsibilities.

The Residence Hall Scholarship requires living on campus and will be canceled if you move off campus. Other USM Merit Scholarships do not require living on campus.

Student Accounts

Charges for Fall will be available on MaineStreet in mid-July.

Charges for Spring will be available on MaineStreet in late November.

Charges for Summer will be available in mid-April.

Payment for Fall charges is due on August15th.

Payment for Spring charges is due on January 15th.

Payment for Summer charges is due on May 15th.

Payment for any charges posted to your student account after the payment deadlines must be received at USM no later than ten (10) calendar days from the date the charge was incurred. If you add a class or incur other campus charges, be sure to check MaineStreet for the updated balance due.

Methods of payment include: payment in full, sufficient financial aid to cover the entire balance, enrollment in an installment payment plan or confirmation of payment by a third party.

No payment action is necessary if anticipated financial aid or third party funding is sufficient to cover the balance due in full.

Any charges not covered by financial aid or third party agency must be included in an installment payment plan or paid in full by the due date.

As per federal guidelines, most fall and spring aid will begin posting to student’s accounts 10 days before the start of the semester. Summer financial aid will be disbursed no sooner than 10 days before the start of a student’s first summer course.

USM extends the payment deadline for those students expecting aid to cover the balance due in full.

Any charges not covered by financial aid or third party agency must be included in an installment payment plan or paid in full by the specified due date.

Financial Aid will not post to your account if you have not completed the entrance interview, signed a master promissory note or if your credit hours do not match the number reported to Financial Aid.

Work-study is paid directly to students employed by a campus organization, office, or academic department. It will not post to your student account.

Refunds for eligible students begin to disburse on the first day of the semester and are thereafter issued twice a week throughout the remainder of the semester. The easiest and fastest way to receive a refund is by enrolling in direct deposit.

Paper checks will be mailed to eligible students who have not enrolled in direct deposit.
If you expect a paper check be sure that your address on MaineStreet is current.

Refund checks are not available for pickup at Student Financial Services offices.

If either of these actions results in a credit to your student account, and your financial aid does not require adjustment, a refund will be issued within ten (10) calendar days.
If you are a financial aid recipient, be sure to contact your financial aid advisor to discuss the potential impact on your award if you drop a class or withdraw from the semester.

Deadlines vary and can depend on the length of a class.
The add/drop/withdraw schedule can be found here.
Deadlines to drop specific classes can also be found on the calendar icon on your MaineStreet Student Center.

NOTE: it is especially important to check the drop deadlines for any class that is that is scheduled for less than 12 weeks.

YES! We recommend at least once a week.
Important communications from Student Financial Services will be sent to your University e-mail address.

All students must complete the Financial Terms and Conditions before enrolling in classes at any campus of the University of Maine System. The Financial Terms and Conditions may be accepted by going to your MaineStreet Student Center and clicking on the “Financial Terms and Conditions” link in the To Do List.

Click this link to learn more:  FAQ’s and the Financial Responsibility Statement.