Maine Maritime Academy

Financial Aid Policies

Please note that these policies and procedures are subject to change and students should consult the Maine Maritime Academy Financial Aid Office for the most up-to-date information and guidance.

Satisfactory Academic Progress (SAP)

Maintaining satisfactory academic progress is essential for students receiving financial aid at Maine Maritime Academy and ensures compliance with Federal Student Aid Regulations. To remain eligible for financial aid, students must meet qualitative and quantitative standards.

Qualitative Measurement

Per Academic Policy, students must maintain a cumulative grade point average (GPA) based on the number of credits earned:

• • 0-18 credits: Minimum GPA of 1.60
  • 19-36 credits: Minimum GPA of 1.80
  • 37-54 credits: Minimum GPA of 1.90
  • 55+ credits: Minimum GPA of 2.00

Quantitative Measurement

Students must complete a specific percentage of credits attempted, known as the pace requirement. The minimum completion percentage is 67%. The pace is evaluated at each assessment period to monitor a student’s progress.

Maximum Time Frame

Students must complete their degree within a maximum time frame. If a student exceeds 150% of the required credits for their degree program without completing the degree, they fail to meet satisfactory academic progress standards and become ineligible for Title IV aid.

Loss of Aid

Failure to meet SAP standards may result in the loss of financial aid eligibility. If a student does not meet the minimum standards, they will be notified by the Financial Aid Office regarding the loss of financial aid effective the following semester or the semester for which they have applied for aid. Students who are allowed to continue enrollment despite not meeting the minimum standards will do so without the benefit of financial aid. Students facing circumstances that have impacted their academic progress have the right to appeal a financial aid decision. A Financial Aid Appeal Form, along with supporting documentation, should be submitted to the Financial Aid Office. These circumstances may include significant life events or unforeseen financial hardships.

Financial Aid Renewal

Remember, the financial aid process is an ongoing one. You will need to reapply for financial aid each academic year to be considered for assistance.

To renew financial aid, students must submit the Free Application for Federal Student Aid (FAFSA) for the upcoming academic year and meet all specified deadlines and submission requirements. The financial aid office may request updated documentation, such as tax returns and verification worksheets, to ensure accurate assessment of financial need. Compliance with the institution’s SAP policy, and meeting award-specific minimum GPA requirements are also necessary for renewal of financial aid.

Professional Judgement

The financial aid office recognizes that some situations may warrant special consideration or adjustments in the financial aid assessment.

Special Circumstances

The Director of Financial Aid has the discretion to adjust a student’s reported financial information on the FAFSA if there is documented evidence that the original calculation does not accurately reflect the student’s or parents’ current ability to contribute to the cost of attendance. This process, known as Professional Judgment, requires comprehensive documentation, including MMA’s Professional Judgement Application.

Dependency Overrides

Students seeking a dependency override must meet criteria set by the Department of Education. Certain questions determine independent status automatically, while others require documentation. The Director of Financial Aid, using professional judgement, may consider documented unusual circumstances to grant independent status. It is important to note that a parent’s unwillingness to contribute to a child’s education does not automatically qualify a student for independent status.

 

Falsification of information on financial aid applications is a serious offense and can result in withdrawal of all financial assistance or repayment of any aid granted.