Code of Maine Rules
94 - INDEPENDENT AGENCIES
457 - FINANCE AUTHORITY OF MAINE (FAME)
Chapter 601 - THE MAINE STATE GRANT PROGRAM (MSGP)
Section 457-601-5 - Determination of Need

Universal Citation: 94 ME Code Rules ยง 457-601-5

Current through 2024-38, September 18, 2024

The Chief Executive Officer shall establish the need of a student for a Program grant for an academic year for which the student applies:

A. Method. A student shall be considered to have a need to qualify for a Program grant if the total of the cost of attendance of the student, minus the expected family contribution and minus estimated student financial assistance not received under this Program, is greater than zero. Total expected family contribution together with any other student financial assistance received by the student may not exceed the cost of attendance at the institution the student attends.

(1) Expected family contribution shall consist of parental contribution and student and spouse (if applicable) contribution. All income, assets and any other resources available to the parents, student and spouse (if applicable) shall be considered.

(2) In determining the cost of attendance to determine eligibility under this subsection, the Authority shall consider the following, as published by the institution:
(a) Tuition and required fees charged to all full-time and part-time students;

(b) Standard room and board costs at the level charged by the University of Maine and applied to all eligible institutions; and

(c) Books and personal expenses or other amounts determined by the Authority.

B. (Repealed effective February 3, 1992)

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