Financial Aid 101

Maine has been blessed with a number of great higher education funding options over the last several years. In this session, we hear from the University of Maine System and the Maine Community College System about initiatives they offer to increase affordability for Maine students.  You’ll also learn more about the Worthington Scholarship and how it’s increasing higher education affordability to an even broader number of schools in Maine.

Federal student loans have re-entered repayment after a three-year pause. Martha Johnston, FAME Director of Education, will share critical information and helpful tips to make sure you know about the availability and benefits, flexible repayment options, loan forgiveness programs, and tax credits. You’ll also learn about the latest news and updates impacting federal student loans.

A working and matched FSA ID is critical to a smooth FAFSA experience. Unfortunately, challenges abound for some students and parents when it comes to the FSA ID. In this session, we offer tips to help avoid problems, followed by problem-solving strategies to try when the FSA ID has become locked, doesn’t work, or the username and password have been forgotten. We also cover how the FSA ID has changed with the Better FAFSA.

Have you ever wondered what really impacts financial aid eligibility? In this interactive session, we walk through the new SAI formula so you can feel confident when sharing with families what counts and what doesn’t. We also highlight what’s different from the old Expected Family Contribution (EFC) to help answer questions as we make the transition to the new Better FAFSA.

Maine has many workforce development programs that help adult learners fund and successfully earn their degrees. Join us as we hear from a few of the great educational support programs in Maine to see what’s available, who is eligible, and how to apply.

The Better FAFSA has arrived! The process flow has changed, the terminology and questions have changed, and navigating the site after submission (to find the FSS and make corrections) has definitely changed! In this session, we’ll walk through the current FAFSA and highlight the sections that present the most questions and confusion.

The Federal Pell Grant program has been expanded! There are now additional ways students can qualify for a Pell Grant beyond having an eligible Student Aid Index (SAI). We discuss these additional pathways and share tools to help students determine eligibility before a FAFSA is filed. We also share other changes to the Pell Grant, including eligibility for less than full-time students and students with atypical enrollment patterns.

Some of today’s prospective college students are preparing for their higher education journey without family support. They may be homeless, self-supporting, and/or dealing with difficult family circumstances. In this session, we’ll discuss the financial aid process for students in these situations, including how to file the FAFSA and communicate their circumstances to the financial aid office. Bring your questions and examples!

This session begins with an overview of the New Mainer section of the FAME website, where many tools and resources exist. Next, a panel of ELL students discuss pathways for federal-aid-eligible students as well as strategies for students not qualifying for federal financial aid. Hear from representatives who administer different scholarship programs, including Prosperity Maine, USM’s Promise Scholarship, and Maine Community Foundation’s Adult Learner Scholarship. Join us to learn more about the challenges faced and opportunities available to our new Mainer students!