The Maine Maritime Academy reported a 1.6% rise in in-state tuition fees for the 2022-23 school year, according to the latest disclosure from the National Center for Education Statistics.
Maine residents paid $14,562 to attend the public four-year institution this year, an increase of $224 from the $14,338 charged during the 2021-22 academic year.
Non-resident tuition for the 2022-23 school year was $30,042, which is 106.3% higher than the in-state rate. This represents a 2.7% increase from $29,258 in the previous year.
Approximately 53% of the undergraduate student body at the academy are Maine residents, while the remaining 47% come from other states.
Financial aid data indicates that 99% of full-time undergraduates who enrolled in 2022-23 received some form of student aid. A total of 216 students were awarded grants or scholarships amounting to $2 million, and 145 students took out loans exceeding $2.1 million.
Across all undergraduates, 675 students obtained grants or scholarships totaling $7 million. Additionally, 579 students borrowed $3.9 million in federal student loans.
Undergraduate education costs have seen a significant increase over the past few decades. Data shows a 169% rise in the average total cost, including tuition, fees, room, and board, between 1980 and 2020.
According to a 2023 College Board report, in-state students at public universities paid an average of $11,260, while out-of-state students paid $29,150 in the 2023-24 academic year.
Meanwhile, student loan debt has steadily increased over the last 30 years, reaching $1.75 trillion in 2024, averaging a total of $28,950 per borrower. Federal loans make up 92% of the debt, with over half of students at both public and private four-year colleges graduating with student loans.
Available data sometimes exceeds 100% due to rounding and administrative calculations.
The following data includes only full-time students who began an undergraduate program at the the Maine Maritime Academy in the 2022-23 school year.
| Type of Aid | Number of students awarded aid | Percent awarded aid | Total amount of aid awarded | Average amount of aid per student |
|---|---|---|---|---|
| Federal grants | 47 | 21% | $256,346 | $5,454 |
| State / local grant or scholarship | 45 | 21% | $130,450 | $2,899 |
| Institutional grants or scholarships | 216 | 99% | $1.6 million | $7,390 |
| Grant or scholarship aid total | 216 | 99% | $2 million | $9,181 |
| Federal student loans | 142 | 65% | $749,681 | $5,279 |
| Other student loans | 68 | 31% | $1.3 million | $19,732 |
| Student loan aid | 145 | 66% | $2.1 million | $14,424 |
| Total student aid | 217 | 99% | $4.1 million | $18,776 |
Information in this story was obtained from the National Center for Education Statistics. The source data can be found here.
