Financial Aid Policies

Independent Student Status

To qualify for independent status, a student must be able to meet the Department of Education Criteria for Independency.

If a student answers yes to any one of the following questions, the student IS automatically independent. If the student answers No to all of the following questions, the student is NOT independent:

  1. Will you be 24 years of age prior to January 1 of the academic year you are going to enter college?
  2. Will you be working on a Masters Degree?
  3. Are you married?
  4. Do you have dependent children that receive more than half of their support from you?
  5. Do you have dependents (other than your children or spouse) who live with you and who receive more than half of their support from you?
  6. Are you a veteran of the U.S. Armed Forces? (Served two years of active duty?) A DD-214 will be required.
  7. Are you currently serving on active duty in the U.S. Armed Forces for purposes other than training?
  8. At any time since you turned 13, were both your parents deceased, were you in foster care or were you a dependent or ward of the court?
  9. Are you or were you an emancipated minor as determined by a court in your state of legal residence?
  10. Are you or were you in legal guardianship as determined by a court in your state of legal residence?
  11. At any time on or after July 1, 2013, did your high school or school district homeless liaison determine that you were an unaccompanied youth who was homeless?
  12. At any time on or after July 1, 2013, did the director of an emergency shelter or transitional housing program funded by the U.S. Department of Housing and Urban Development determine that you were an unaccompanied youth who was homeless?
  13. At any time on or after July 1, 2013, did the director of a runaway or homeless youth basic center or transitional living program determine that you were an unaccompanied youth who was homeless or were self-supporting and at risk of being homeless?

Documentation may be required for any yes answers.

The Director of Financial Aid, using professional judgment, may consider a student with documented unusual circumstances as independent. A parent’s unwillingness to contribute to his/her child’s education is not grounds for independent status.

Falsification

Parents and students must supply accurate and complete information on all financial aid applications. Willful falsification or omission of information is a criminal offense punishable under Maine and federal laws. Intentional omission or falsification may result in withdrawal of all financial assistance or repayment of any assistance granted by the Academy’s Financial Aid Office.

Director of Financial Aid Discretion

In some cases, the Director of Financial Aid may adjust the expected family contribution derived from the federal methodology system if the officer has documented reason to believe that the original contribution calculated does not accurately reflect the student’s or parents’ ability to contribute to the cost of attendance. This is called a Request for Review and will require full documentation.

Financial Aid and Academic Standing

Students receiving financial assistance are expected to maintain satisfactory progress toward a degree. Any student meeting the following criteria will automatically be considered as making sufficient satisfactory academic progress for financial aid purposes:

Time Frame GPA Credit Hours Successfully Completed
After 2 semesters 1.80 24
After 4 semesters 2.00 48
After 6 semesters 2.00 72
After 8 semesters 2.00 96

Students not meeting the above conditions will lose eligibility for financial aid. These students can appeal this decision. Each appeal will be considered on a case-by-case basis by the Director of Financial Aid to decide whether satisfactory progress is being made.

In no instance will an undergraduate student be eligible for financial assistance beyond six years of study, or if the minimum cumulative grade point average of 2.0 has not been met after completing four semesters as a full-time student. Financial Aid includes all Federal and State grants, all Federal and institutional loans, work study and all institutional scholarships.

Governance

The above and all other policies governing the administration of financial aid at Maine Maritime Academy are in accordance with federal and state laws regulating federal and state aid programs which were current at the time of publication.

Students have the right to appeal any financial aid decisions to the Financial Aid Review Committee which is comprised of the Director of Admissions, the Director of Financial Aid, the Registrar, the Director of Residential Life, and a faculty representative. Appeals must be made in writing and submitted to the Director of Financial Aid.