Financial Services

Any student enrolled in MCHP who qualifies for financial assistance will receive aid to the extent funds are available. The amount of actual aid awarded depends upon the financial need of the individual student, and, therefore, will reflect the student and/or family’s financial circumstances. All such information is strictly confidential.

If you have any questions about financial aid and available services, please get in touch with our Financial Aid Office at (207) 795-2270.

Defining Financial Need

Financial need is the difference between costs (tuition and fees, room, board, student uniforms, books, supplies, travel, and personal expenses) and the amount of money the student and/or the student’s family can afford to pay. This amount is determined by a standard formula, established by Congress, and approved by the Secretary of Education. The amount is referred to as the Federal Methodology and the calculation is:

Cost of AttendanceExpected Family Contribution = Need

In order to determine the Expected Family Contribution, one must complete the Free Application for Federal Student Aid (FAFSA). The information provided on the FAFSA determines the expected family contribution and these results are used to determine a student’s financial need.

Students that wish to apply for financial aid should submit the FAFSA to the Federal Processor of the U.S. Department of Education by May 1st to meet State scholarship and grant deadlines. Students are required to apply online at www.FAFSA.ed.gov. Students are required to reapply for financial aid for each academic year they wish to be considered for.

 

The MCHP Financial FAFSA School code is: 006305

Financial Aid Eligibility

A student is eligible for financial assistance at the MCHP if he or she:

  • Is a citizen of the United States or is an eligible non-citizen;
  • Is not in default on a previous loan
  • Does not owe a refund on a previous grant or scholarship
  • Has not previously earned a baccalaureate degree [only applies to Pell and Supplemental Educational Opportunity Grant (SEOG)]
  • Is a matriculated student
  • Is enrolled in at least 3 credit hours each semester
  • Is making satisfactory academic progress; and demonstrates financial need.

Willful falsification or omission of information on the application is a criminal offense punishable under Maine and federal laws. Intentional falsification or omission of information will result in withdrawal of all financial aid, and repayment of any assistance that has been granted.

Types of Financial Aid

Grants, scholarships, and loans are all potential options for financial aid packages. Grants and scholarships are given without any expectations of repayment. Loans include specific obligations. A students’ financial aid package is revised each year, depending upon the need and the availability of program funding.

 

Students are considered for financial aid on a basis of financial need and the amount available for funding. The resulting determination, or award, is communicated to the student in the form of a financial aid offer, which the student is free to refuse in whole or in part. Refusal will not result in restructuring the way a student’s aid has been divided between grant aid and loan aid.

Grants, Endowments & Scholarships

PELL Grant Program

State of Maine Grant Program (MESG)

Dr. Gard W. Twaddle Nurses Endowment Fund

Elias E. Tucker Nursing Fund

Women's Hospital Association Fund

Maine Orthopaedic Foundation Scholarships

Loans

Direct Loans

Direct Subsidized Loans

Direct Unsubsidized Loans

Direct (PLUS) Loans

Seeking Additional Aid

Colleges generally do not have resources adequate to meet all the financial needs demonstrated by financial aid applicants. Students are strongly encouraged to seek outside aid from organizations when additional financial support is required. While not an all-inclusive list, MCHP students have received grants from: high schools, church groups, community/hospitals/hospital auxiliaries, civic minded fraternal and professional organizations, including: American Legion, Kiwanis, Elks, Lions, Odd Fellows, Rebekahs, and Auburn Exchange Club. Veterans and/or dependents may be entitled to certain VA benefits.

Payment of College Fees

All MCHP fees must be paid in full each semester prior to the first day of class. No student will be admitted to any class until satisfactory arrangements have been made with the Bursar.

A bill will be mailed to each student prior to the beginning of each semester. On each bill, the date the payment is due to be paid in full is indicated.

Students will not be allowed to register for future courses if they have not met all their financial obligations of the College.

No student will be promoted to another semester or graduated from MCHP until all bills due to the College are paid in full. Transcripts will be held until payment is received in full or arrangements have been made.

Financial Aid Satisfactory Academic Progress

To comply with Federal Title IV Regulations §668.34, Maine College of Health Professions (MCHP) is required to establish and implement policies and procedures surrounding Satisfactory Academic Progress (SAP) for students who use Federal student aid to help pay for college. The SAP policies must be at least as strict as the school’s policies for non-Title IV recipients, and in the case of MCHP, the policies are the same for both groups of students. SAP policy can be viewed by clicking the button below.