Financial Aid for Online Students

Financial Aid

Financial aid eligibility

The College offers federal financial aid for students who are enrolled at least half-time in degree programs in the Online College. Federal aid is awarded for the cost of tuition and books.

  • For undergraduate students, aid is available through both the Federal Direct Loan and Federal Pell Grant.
  • For graduate students, only the Federal Direct Loan is available.
  • Students receiving employee or other reimbursement for tuition and books may not eligible for financial aid.

General eligibility requirements for financial aid include:

  • Admission to a degree program (students enrolled in our certificate programs are not eligible for aid)
  • U.S. citizenship or eligible non-citizen status
  • No default on a federal student loan or refund required to a federal grant program
  • Registration with Selective Service (if required)
  • Valid Social Security number
  • High school diploma or GED
  • Satisfactory academic progress toward degree, i.e., you must complete 70% of the credits you attempt (including all transfer credits) and maintain at least a 2.0 cumulative grade point average.
  • Half-time enrollment. Please carefully review the enrollment requirements to be eligible for financial aid.
    (These requirements are also used for deferring prior student loans.)

Applying for financial aid

The following forms are needed in order to apply for a Federal Direct Loan and/or a Federal Pell Grant.

Forms Required for Courses
with a Start Date Between
6/1/2013 and 5/31/2014
Forms Required for Courses
with a Start Date between 6/1/14 and 5/31/15

Graduate Students:

Undergraduate Students:

Graduate Students:

Undergraduate Students:

2013-14 FAFSA (Free Application for Federal Student Aid) Available at FAFSA.gov

2013-14 FAFSA (Free Application for Federal Student Aid) Available at FAFSA.gov

2014-15 FAFSA (Free Application for Federal Student Aid) Available at FAFSA.gov

2014-15 FAFSA (Free Application for Federal Student Aid) Available at FAFSA.gov


2013-14 Verification Worksheet pdf icon

Available on our website


2014-15 Verification Worksheet pdf icon

Available on our website


You must either select the IRS Data Retrieval Tool option when completing your FAFSA, or provide us with an IRS Tax Return Transcript of your 2012 Federal Tax Return. To obtain a transcript, call the IRS at 800-829-1040 or go to www.IRS.gov and select "Order a Return or Account Transcript."
Then select "Order a Transcript" from the third column. Enter your personal information, then choose "Return Transcript" from the drop-down menu DO NOT select Account Transcript; we are not able to accept it.

OR complete a 2012 Non-Tax Filer Statement pdf icon (if you and/or your spouse were not required to and did not file a tax return). Available on our website


You must either select the IRS Data Retrieval Tool option when completing your FAFSA, or provide us with an IRS Tax Return Transcript of your 2013 Federal Tax Return. To obtain a transcript, call the IRS at 800-829-1040 or go to www.IRS.gov and select "Order a Return or Account Transcript."
Then select "Order a Transcript" from the third column. Enter your personal information, then choose "Return Transcript" from the drop-down menu DO NOT select Account Transcript; we are not able to accept it.

OR complete a 2013 Non-Tax Filer Statement pdf icon (if you and/or your spouse were not required to and did not file a tax return). Available on our website


3 Plus One” Students/other consortium students concurrently taking courses at another institution will also need:

Financial Aid Consortium Agreement Form pdf icon

Financial Aid Consortium Agreement Student Responsibilities pdf icon


3 Plus One” Students/other consortium students concurrently taking courses at another institution will also need:

Financial Aid Consortium Agreement Form pdf icon

Financial Aid Consortium Agreement Student Responsibilities pdf icon

 

Opportunity Maine

A Maine tax credit has been authorized to reimburse payments to a school-certified educational loan for any Maine resident who earns an associate's or bachelor's degree in Maine, and then lives, works and pays taxes in Maine following degree completion.

HOW TO CLAIM THE EDUCATIONAL OPPORTUNITY TAX CREDIT

All you have to do to take advantage of the Educational Opportunity Tax Credit (EOTC) is file your tax return. If Maine Revenue Services wants additional documentation, they will contact you, but there is no longer any paperwork to fill out with your college. You can find the tax credit worksheet for the EOTC here.

  • If you graduated after December 31, 2009, the tax credit worksheet will provide the "benchmark loan payment,” which determines the maximum tax credit you can claim. The benchmark for 2010 is $343.
  • If you graduated on or before December 31, 2009, and you have not yet filled out and filed an Opportunity Contract Opportunity Contract, the documentation that was used when the program was launched, you no longer have to. However, the cap ("benchmark loan payment”) on your eligible tax credit is determined by your college, based on a formula. The benchmark payment for 2008 was $50 and the benchmark in 2009 was $132.
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