The Maine Loan. The Maine Loan TM occurs to qualified

The Maine Loan. The Maine Loan TM occurs to qualified

The Maine Loan TM can be acquired to qualified undergraduate and graduate pupils to borrow money up to the total cost of education less other college capital. This loan system exists to bridge the room relating to the complete cost of college and traditional funding that is educational. The Maine Loan TM is Maine’s Alternative scholar Loan TM provided by Finance Authority of Maine (FAME).

Loan Features

This pupil that is alternate provides three fixed interest rates regarding the re re payment choice chosen. All three rates of interest as the 0% upfront/guarantee fee are less than the 2019–2020 Federal Direct PLUS Loan, and are also based on the re payment option you select.

  • A interest this is certainly fixed of 4.49% 1, 5.49% 2, and 6.49% 3 with regards to the re payment option selected. All costs are less than the 2019-20 Federal Direct (Parent/Grad) PLUS Loan.
  • Approved borrowers obtain the exact same interest that is fixed for the re payment option chosen, regardless of credit history or if perchance you will see co-borrowers.
  • There’s absolutely no (0%) guarantee price.
  • 0.25% interest decrease with automatic debit re re re re re payments. 4
  • A minimum that is low amount of $1,000.
  • No annual or borrowing that is aggregate.
  • Six (6) four weeks beauty timeframe.
  • No application cost.
  • No penalty that is pre-payment.
  • Three (3) disbursements per academic year.
  • Many different payment terms up to fifteen (15) years, regarding the re re payment option opted for.
  • High quality, personalized support operating out of Maine.

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