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The Maine Medical Loan

The Maine Medical LoanTM is available to medical school students to borrow funds up to the full cost of their medical education less other financial aid. This loan is specifically designed to help medical students from Maine, and out-of-state students attending approved medical schools in Maine, with their educational financing needs.

Loan Features

This alternative student loan offers three fixed interest rates depending on the repayment option selected. All three interest rates and the 0% upfront/guarantee fee are currently lower than the 2019–2020 Federal Direct PLUS Loan, and are based on the repayment option you choose. 

If you are finding that the Federal student loan program is not meeting your full needs, The Maine Medical Loan may be the perfect loan for you. Borrow as little as $1,000 or borrow up to the full cost of your education (less any other financial aid) as determined by your school.

Eligibility

The Maine Medical Loan is available to medical school students. To be eligible for The Maine Medical Loan, you must meet the following requirements:

If a student borrower does not meet the eligibility requirements, then it will be necessary to apply with one or more creditworthy co-borrowers. The co-borrower(s) must meet FAME’s credit underwriting standards which include:

NOTE: Following approval of the loan application, the student’s college or university Financial Aid Office must certify the student’s enrollment status and cost of education prior to disbursement of funds. Upon the school’s request, the funds will be sent directly to the student’s school.

Approved Areas of Study

The Maine Medical Loan has expanded its scope of eligible medical degrees beyond Doctor of Medicine and Doctor of Osteopathic Medicine to include all of the following:

NOTE: The rates and terms disclosed within are available while funds last.