New Maine State Grant money now available for adult students who missed the 2019-2020 application deadline of May 1
File your 2019-2020 FAFSA as soon as possible as funds are limited!
The Finance Authority of Maine (FAME) plans to make a limited number of Maine State Grant awards to Maine’s adult learners who have not begun or completed their degrees thanks to new funding recently approved by the Maine Legislature and Governor Janet Mills.
New Maine State Grant money is now available for adult learners who missed the 2019-2020 application deadline of May 1. An additional $3 million ($1 million in FY20, $2 million in FY21) has been appropriated for the program by the Legislature to assist adult students to earn some form of a higher education credential.
The goal of this funding it to provide the opportunity for an increased number of Maine adult learners to gain the skills needed to enjoy good paying jobs here in Maine. This effort supports Maine’s statewide goal that by 2025, 60% of Mainers will hold a credential of value to support workforce needs.
The Maine State Grant Program is the state’s need-based undergraduate grant program. It is funded largely through state appropriations. Traditionally, the grant has been awarded annually to approximately 13,000 Maine students. Students apply using the Free Application for Federal Student Aid (FAFSA). Award levels for academic year 2019-20 are $1,500 for full-time study at Maine institutions (public and private) and $750 for part-time study.
For the new adult learner version of the grant, eligible applicants must have been born before January 1, 1996; filed their FAFSA on or after May 2; and not received a Maine State Grant for the three most recent academic years. All other current Maine State Grant criteria apply. FAME estimates that the additional funds will help approximately 2,439 more adult learners over the next two years.
Interested parties are encouraged to file their 2019-2020 FAFSA as soon as possible as funds are limited.
FAME data shows that, on average, over the last three years, 3,800 adults who filed the FAFSA during the summer but after the May 1 Maine State Grant deadline would have qualified for this need-based grant.
A study undertaken by FAME in 2016 found that Maine State Grant recipients had higher rates of degree completion than did their peers in Maine and in the nation. Students who receive the Maine State Grant to attend a four-year college complete their degree at a rate of 61% compared to an overall state completion average of approximately 48%.
“The grant is an essential piece of the financial aid package for many students and families, and we are pleased to make awards available to adult learners who have missed the May 1 deadline for filing an application,” stated Bruce Wagner, FAME Chief Executive Officer. “Targeting adult learners with additional grant funding will help them complete their credentials and assist with Maine’s workforce needs.”
This new Maine State Grant funding for adult learners is only available for a limited time as funds are limited. In future years, recipients of the grant must file their FAFSA by May 1 in order to continue to receive the grant.
FAME is a quasi-independent state agency that provides innovative financial solutions to help Maine citizens pursue businesses and educational opportunities. FAME helps to lead the creation of quality jobs for Maine citizens by working at the nexus of economic and workforce development. To learn more about FAME, please visit www.famemaine.com