Lower the Cost of Your Education

Every student has different needs. Our aid packages are tailored to yours.

So how do you pay for the rest of your education? There are many options available to you—we’re here to help you get through it.

Opportunity Maine logo

Did you know? The state of Maine offers an Educational Opportunity Tax Credit to qualifying Maine residents making educational loan payments. It does not matter what state you came from. If you reside and work in Maine after you graduate, you will be eligible for this tax credit. Learn more at maine.gov.

Grants

Saint Joseph’s Grant

Full-time students with need. It generally ranges from $1,000 to $3,000 and is based on level of financial need and available funding. Requires satisfactory academic progress. Apply for financial aid by priority deadline.

Saint Joseph’s Family Grant (does not require financial need)

Full-time student with immediate family member(s) also enrolled full-time in the on campus program. 10% tuition discount per family split between each enrolled student for up to four years of full-time study and satisfactory academic progress. Contact Office of Financial Aid with names of students.

Federal Pell Grant

Full or part-time matriculated undergraduate students who meet the federal EFC (family contribution) restrictions. Ranges from $400 to $6,895 per year. For length of program; requires satisfactory academic progress. FAFSA is required.

Federal Supplemental Educational Opportunity Grant

Generally restricted to Pell Grant recipients matriculated in traditional programs. Ranges from $100 to $4000 by federal definition; budget generally allows for offers that range from $200 to $450. For up to four years of full-time study and satisfactory academic progress. FAFSA required by priority deadline for full consideration.

Federal Veterans Administration Benefits

Saint Joseph’s College’s programs are approved by the Maine State Approving Agency for Veterans Education Programs for benefits (GI Bill®) from the U.S. Department of Veterans Affairs. Students who request veterans educational assistance are required to have all previous post-secondary experience evaluated for possible transfer credit. For more information, please contact the Office of the Registrar.

Maine State Grant

Full- and part-time matriculated undergraduate students who meet the state EFC (family contribution) restrictions. $2,500 per year for full-time study (2022-2023); $1,250 for part-time study for length of program. Requires satisfactory academic progress and FAFSA required by May 1.

Vermont State Grant

Full- or part-time matriculated undergraduate students who meet VSAC annual criteria. Generally ranges from about $500 to $2,500 for up to four years of full-time study with financial need and satisfactory academic progress. FAFSA required and VSAC application required by March 1.

Loans

Educators for Maine Program

Maine residents who are matriculated full-time undergraduate students planning to teach in the State of Maine. Ranges from $3,000 per year up to $12,000 for 4 years. Loan forgiveness available to qualified borrowers. Up to four years of full-time study; requires satisfactory academic progress and at least a 2.5 CGPA (HS). Current college students may apply with at least a 3.0 CGPA.

FAFSA required by May 1. FAME application required by May 1. New and renewal applications are available at FAME website.

Nursing Student Loan

For selected full- or part-time matriculated undergraduate nursing students who demonstrate need. Generally ranges from $500 to $3,300 and has a 5% interest rate and a 9 month grace period. Usually restricted to first- and second-year nursing students and requires satisfactory academic progress. Must remain a nursing student and be enrolled at least half-time to qualify for deferment of payment.

FAFSA required by priority deadline for full consideration. First-time borrowers must complete the Nursing Loan Master Promissory Note and loan entrance counseling.

Federal Subsidized Direct Loan Program

Matriculated undergraduate students who are at least half-time and demonstrate financial need. Requires eligibility for federal aid and cannot have exceeded federal loan limits. Requires satisfactory academic progress. First-time borrowers must complete entrance counseling.

FAFSA required for application and promissory note required for disbursement.

Federal Unsubsidized Direct Loan Program

Matriculated undergraduate students who are at least half-time and do not demonstrate financial need or independent students. Requires eligibility for federal aid and cannot have exceeded federal loan limits. Satisfactory academic progress required. First-time borrowers must complete entrance counseling.

FAFSA required for application and  promissory note required for disbursement.

What are the interest rates for federal student loans?

The interest rate varies depending on the loan type and (for most types of federal student loans) the first disbursement date of the loan. The table below provides interest rates for Direct Loans first disbursed on or after July 1, 2022.

Interest Rates for Direct Loans

Loan Types Borrower Type Loans first disbursed on or after 7/1/22 and before 7/1/23
Direct Subsidized Loans Undergraduate 4.99%
Direct Unsubsidized Loans Undergraduate 4.99%
Direct Unsubsidized Loans Graduate or Professional 6.54%
Direct PLUS Loans Parents and Graduate or Professional Students 7.54%

All interest rates shown in the chart above are fixed rates for the life of the loan.

Maximum Annual Direct Loan Amounts

Dependent Students

Year in School
(by credit earned)
Total Base Sub or
Unsubsidized Loan
Loan  Additional
Unsubsidized Loan
Total Loan
1st (0-27) 3,500 2,000 5,500
2nd (28-59) 4,500 2,000 6,500
3rd & 4th (60+) 5,500 2,000 7,500

Independent Students

Year in School
(by credit earned)
Total Base Sub or
Unsubsidized Loan
Loan  Additional
Unsubsidized Loan
Total Loan
1st (0-27) 3,500 6,000 9,500
2nd (28-59) 4,500 6,000 10,500
3rd & 4th (60+) 5,500 7,000 12,500

Total maximum outstanding debt allowable:

  • $31,000 for dependent undergraduates
  • $57,500 for independent undergraduates

A dependent student whose parent is denied a Federal Direct Parent Loan may borrow the additional Unsubsidized Direct Loan up to $4,000 for first and second years and $5,000 for third and fourth years.

For more information on federal programs, go to the Federal Student Aid website or call 1-800-4FEDAID.

A sample loan repayment schedule is available at the Federal Student Aid website.

Work-Study

Federal Work-Study provides part-time jobs for students allowing them to earn money while enrolled at SJC. It’s important to note that the work-study stipend is not included in the student’s estimated balance as students who participate receive a paycheck from SJC.

Full- or part-time matriculated undergraduate students who demonstrate financial need; priority is given to previous participants. Generally ranges from $1,000 to $1,500 for up to four years of full-time study with similar financial need and satisfactory academic progress. FAFSA required by priority deadline for full consideration.

Current work-study and other student employment positions are posted on our Careers@SJC site. You will also find our Federal Work-Study Handbook there.

Work-Study Jobs

Assistance for International Students

Students from other countries are considered for Saint Joseph’s merit scholarships. However, these scholarships do not cover the full expense of attending the College.

International candidates may want to look for other scholarship assistance and borrowing options at EduPass.

Learn more

Contact Us

For financial aid questions

Office of Financial Aid
800-752-1266
207-893-6612
finaid@sjcme.edu

For billing questions

Office of Student Accounts
207-893-7732
FAX: 207-893-7678
studentaccounts@sjcme.edu

For loan deferment questions

Office of Academic Records
207-893-7798
FAX: 207-893-7701
registrar@sjcme.edu