The Alternative Student Loan

Rates as low as 4.49%

The Maine Loan is the smart way to bridge the gap when awards, scholarships, grants and financial aid don’t meet the costs of higher education. These loans are powered by Finance Authority of Maine (FAME), Maine’s leading higher education financing experts. As a state-based agency, FAME offers no upfront/guarantee fees and competitive fixed interest rates to help you fund your higher education at an affordable price.

We want to help you be an informed borrower and hope you take advantage of FAME’s financial education resources. Student loan specialists located right in Maine are ready to help you understand your options and choose a solution that fits your budget now and considers where you’ll be after graduation.

The Maine Loan and the Maine Medical Loan

Current loan rates for academic year 2020-2021, are as low as 4.49% and there is no (zero) origination or upfront fee of any kind. The fixed interest rates for the Maine LoanTM, Maine’s Alternative Student LoanTM, and Maine Medical Loan are 4.49%1, 5.49%2, and 5.99%3 depending on the repayment option selected.

These loans are available for the full cost of education minus financial aid.

Repayment Calculators

Student Loan/Salary Calculator: Use this calculator to help you understand the feasibility of paying off your debt with your anticipated future income.

Maine Loan/Maine Medical Loan Repayment Calculator: This calculator will help you estimate what your monthly payments will be and how much the loan will cost you depending on what repayment option you choose.

The Maine Medical Loan is available to students pursuing medical degrees such as MD, DO, dentistry, veterinary medicine, chiropractic and others.