FAFSA FAQs - FAME Maine

File the FAFSA

There is money available to help pay for school. Begin by filing the FAFSA.

Make a Plan

Making a plan for saving is the first step towards making education after high school a reality.

Start to Save

Saving now will put you in a better position to pay for education after high school later.

Pay for School

Paying for education after high school usually comes from a variety of sources.

Find a Scholarship

Use FAME’s online search to find Maine scholarships.

Your Financial Wellness

Learn more about managing your finances and improving your financial health.

Resources for Educators

FAME has resources to help you serve your students and their families.

Planning by Age

There are things you can do at every stage to prepare for higher education.

Planning Tips For …

FAME provides specific resources for New Mainers, Adult Students, Military Families and Veterans, and Employers.

Financial Wellness

Learn more about managing your finances and improving your financial health.

Resources for Educators

Resources for Educators to help serve students and families.

Ways to Save

There are many ways to save for college. Learn more about options that may work for you.

NextGen 529

A great way to help your child save for college. NextGen 529 is Maine’s section 529 plan which many Maine families use to save for college.

Tips to Help You Save

It can be hard to find money in your budget for college savings. These tips will help you find ways to save money.

Getting Financial Aid

There’s money available to help pay for college. Learn more about applying for financial aid and filing the FAFSA.

Free Community College is Here

If you’re a Maine student who earned (or will earn) a high school diploma or equivalent in 2020, 2021, 2022, or 2023, you can attend Maine community college tuition free, but you’ll need to file the FAFSA. The same will be true for classes of 2024 & 2025.

Scholarship Search

Scholarships provide free money to pay for college. Start your search for Maine scholarships here.

Resources, Videos, and Calculators

Use FAME’s Resources & Tools to help you afford higher education.

For Business Owners

For nearly 40 years FAME has helped Maine people reach their business goals.

For Lenders

FAME helps Maine lenders and their customers get to "yes."

For Investors

FAME encourages investments in Maine businesses, both directly and through private venture capital funds.

Commercial Loan Insurance

FAME’s commercial loan insurance program helps lenders make business loans by reducing risk.

Direct Loan Programs

When traditional loans are not the solution, FAME’s business loans may be the answer.

Business Roadmap

Learn about key steps in the business planning and financing process.

Business Roadmap

Whether you’re starting a business or seeking financing for an existing one, learn about key steps in the business planning and financing process.

Financing Programs

When traditional loans aren’t an option for your business, FAME’s financing programs may be the answer.

Resources for Business Owners

A collection of resources to help you plan and build your business.

Commercial Loan Insurance for Lenders

FAME’s commercial loan insurance insures a portion of loans made through participating financial institutions.

OLA Log In

Quick access to the OLA log in page for existing OLA users.

FAME Business Webinars

Miss out on a webinar? Find recordings and resources for FAME Business Webinars here.

Fees and Rates

Quick link to FAME fees and rates for lender programs.

Maine New Markets Capital Investment Program

Provides tax credits to investors in community development entities that reinvest in businesses located in low-income Maine communities.

Maine Seed Capital Tax Credit Program

Encourages investments in small businesses by providing credits to outside passive investors.

Free Online Financial Education

Powered by iGrad® and Enrich®, FAME offers free online financial education to support Maine people during high school, college, and beyond.

Build Your Financial Wellness

Free resources to guide you on your path toward financial freedom.

Grow Your Student or Child's Financial Wellness

Tools to help you support youth financial capability.

Invest in Your Employees’ Financial Wellness

Resources to help your employees improve their financial well-being.

Financial Wellness Social Media Toolkit

Our free toolkit can be used by anyone interested in launching a Financial Literacy social media campaign.

Employee Financial Wellness Roadmap

Improving employees’ financial wellness helps improve productivity and satisfaction. Assistance available to help you create a win-win program.

Claim Your Future

An interactive program that encourages high school students to explore the return on investment of various career pathways and financial decision-making.

Steps to Financial Wellness

Setting goals, creating a budget, managing debt and credit, and MORE! All great steps to help you become financially capable.

Financial Wellness Resources

FAME provides free financial wellness programs to help Maine people become more financially capable.

Monthly Financial Check-in with FAME

Free Webinars to learn more about preparing for and paying for higher education, including refinancing student loan debt.

Resources for Younger Students

Use Invest in ME Reads Program or the Ca$h & Max workbooks to start conversations about money with younger students.

Resources for High School and Beyond

Play Claim Your Future – career & budget game or use iGrad Online Financial Education with your students, and more…

Resources for Educators and Professionals

FAME has developed extensive resources for educators and professionals who support financial education in their school or community.

Employee Financial Wellness Roadmap

This roadmap has resources and support to guide the development of life-changing financial education for your employees.

Resources for Employees

Free flyers, videos, webinars, and more to share with your employees as employer-provided benefits.

Home > Affording Higher Education > Pay for School > Getting Financial Aid > FAFSA FAQs

FAFSA stands for Free Application for Federal Student Aid. Filing the FAFSA is the first step in applying for financial aid, and it’s a requirement for students who plan to pay for education after high school with the help of federal, state, or institutional aid such as grants, scholarships, work-study, and loans.

For instructions and FAQs on the 2023-2024 FAFSA, please visit our Filing the 2023-2024 FAFSA page.

Historically, the FAFSA has been available beginning October 1st each year. However, because of the FAFSA Simplification Act passed by Congress in 2020, significant changes are being made to the 2024-2025 FAFSA application and processing system. As a result, the 2024-2025 FAFSA will not be available until sometime in December 2023. (Federal Student Aid has yet to announce the exact date.)

For instructions and FAQs on the 2024-2025 FAFSA, please visit our Filing the 2024-2025 FAFSA page.