By Dan Elliott

With spring break at an end, the semester is now half over. And while there is still much work left to do before May arrives, registration for summer classes is officially open. Students here at the Brunswick campus looking to alleviate the burden of student debt through means of financial aid now have the opportunity to speak with an advisor without having to make the trek down to South Portland.

On March 22, the Midcoast Campus will be featuring a FAFSA lab, a seminar designed to help students with filling out their Free Application for Federal Student Aid, otherwise known as the FAFSA. Held in room 203 of the MATEC building, students will have online access to fill out the form, with the assistance of a SMCC financial-aid officer guiding them as they go. This is a great opportunity for those who have little to no experience dealing with FAFSA, or those simply with questions needing answers. Students have the option of making an appointment with the advisor, or they can simply drop in to take advantage of this assistance afforded to them.

Nearly every student in the U.S. is eligible for some sort of financial aid. The most common forms of this assistance are the Pell Grant and the Stafford Loan. The Pell Grant, named after Rhode Island Senator Claiborne Pell, has served as the backbone of roughly 5.4 million college students’ financial aid package. Unlike a loan, the grant does not have to be repaid. The Pell Grant has a maximum lifetime amount that is paid out, and is dependent on the student’s eligible family contribution (or “EFC” for short).

The Stafford Loan, named after Vermont Senator Robert Stafford, is a federal student loan that has a lower interest rate than that of most private loans. This is due to the fact that the U.S. government assures repayment of the loan in the event of student default. The student does not have to repay the loan while in school, and has attached with it a grace period of six months after graduation. The subsidized version of the loan sees the interest paid by the government during enrollment, making repayment of the loan simple and relatively unstressful.

Midcoast students are encouraged to contact Vicki-Rose Porter (vporter@smccME.edu) with any questions or concerns regarding financial aid they might have, or to schedule an appointment for help in filling out the FAFSA. While planning for courses for the next semester, the smart student should plan for financial peace of mind as well. After all, with everything that a student has to keep track of, the burden of fiscal debt should be as far from the top of the list as humanly possible.