Anticipated Financial Aid

Anticipated financial aid appears in MaineStreet and on student invoices for each term, reducing the account balance. However, funds are only applied if all Financial Aid requirements are met. Loans will display as anticipated aid only after being accepted on MaineStreet.

Refunds

Financial aid is disbursed to student accounts once the aid process is complete:

  1. Financial aid is disbursed starting before the beginning of classes.
  2. Late-awarded financial aid is disbursed weekly.
  3. Refunds are issued as either a mailed check or via direct deposit.
  4. For students attending other University of Maine campuses, excess aid may be transferred to the affiliate campus before a refund is issued. Students must ensure all campus balances are paid.

Withdrawals and Aid Adjustments

Federal regulations require financial aid adjustments for students who reduce credit hours, withdraw, or fail to complete the semester. This may result in funds being returned to federal programs and the student owing a balance. Report all outside assistance (scholarships, sponsorships, third party payers) to avoid repayment obligations. Contact the Financial Aid Office at 207-621-3412 before withdrawing.

Return of Title IV, State, & Institutional Funds

Students withdrawing before the 60% point of the enrollment period may face reductions in charges and aid. The withdrawal date is determined by the official withdrawal notice or, if absent, the mid-point of the enrollment period.

Order of Return of Funds

Per law and regulations, funds are returned in the following order:

  • Unsubsidized Federal Stafford Loan/Direct Loan
  • Subsidized Federal Stafford/Direct Loan
  • Federal PLUS Loans
  • Federal Pell Grants
  • Federal Supplemental Educational Opportunity Grants (SEOG)
  • Other Title IV Aid Programs
  • Other federal, state, private, or institutional aid
  • Student

For more information, please contact UMA’s Financial Aid Office.