Financial Aid for Online & Distance Learning Degree Studies
Financial aid eligibility
The College offers federal financial aid for students who are enrolled at least half-time in degree programs in the Graduate & Professional Studies division. 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 6/1/13 and 5/31/14
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."
“3 Plus One” Students/other consortium students concurrently taking courses at another institution will also need:
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 , 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.