PRESQUE ISLE, Maine — The University of Maine at Presque Isle has rolled out a new grant program aimed at drawing more students from New Brunswick high schools in spite of the poor currency exchange rate.
University officials announced the launch of the Good Neighbor Grants program during a news conference Thursday at the university.
The cost for Canadian students to attend the university is $330 U.S. per credit hour, which works out to $9,900 annually based on a typical 15-credit-per-semester workload, according to the school. Factor in the current exchange rate — $1 Canadian is equal to 69 cents U.S. — and that becomes $14,000 per year for the foreign students.
Under the Good Neighbor Grants program, the Canadian students’ dollars will be “accepted on par” with the U.S. dollar, saving the student about $12,300 over the course of four years, according to UMPI.
Six schools in western New Brunswick were invited to participate in the program based on their close proximity to UMPI — John Caldwell High School in Grand Falls, Tobique Valley High School in Plaster Rock, Southern Victoria High School in Perth Andover, Carleton North High School in Bristol, Hartland Community School in Hartland and Woodstock High School in Woodstock.
“This is a first-of-its-kind program for us and takes the exchange rate out of the equation for Canadian students graduating from these six high schools, which are in such close geographic proximity to [UMPI],” campus President Linda Schott said.
To maintain their grant award, students must complete at least 12 credit hours per semester and maintain a grade point average of at least 2.5.
“Graduating high school students face a large expense as they pursue post-secondary education,” said David McTimoney, superintendent of the Anglophone West School District, based in Fredericton, New Brunswick. “For these students, finding financial support is a key component in reducing the number of stresses they face during the course of their studies.”
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