Coming Soon: Lower Fixed Interest Rates & 0% Fees for 2017-18 for The Maine Loan & Maine Medical Loan Effective on or about June 26, 2017
The 3 new fixed interest rates and 0% fees for the Maine Loan and Maine Medical Loan programs are all lower than the new Federal Direct PLUS Loan fixed interest rate and fees.
| |
Immediate Repayment |
Interest Only Payments |
Deferment of Principal & Interest Payments |
| Fixed Interest Rate |
4.99%1 |
5.99%2 |
6.99%3 |
| Repayment Term |
120 months |
180 months |
180 months |
The online applications with these lower interest rates and 0% fees will be available on or about June 26, 2017. If you proceed to apply now, you will be applying for the current 2016-17 higher rates and fees published on our website.
1The APR is 4.99%. The APR, or Annual Percentage Rate, is the effective interest rate when all interest charges are included. This APR is based on a fixed interest rate of 4.99%, a loan amount of $10,000, a repayment term of 120 months, and assuming immediate principal and interest payments. Terms will be as of 6/26/2017.
2 The APR is 5.99%. The APR, or Annual Percentage Rate, is the effective interest rate when all interest charges are included. This APR is based on a fixed interest rate of 5.99%, a loan amount of $10,000, and a repayment term of 180 months, and assuming interest only payments for 4 ½ years. Terms will be as of 6/26/2017.
3 The APR is 6.62%. The APR, or Annual Percentage Rate, is the effective interest rate when all interest charges are included. This APR is based on a fixed interest rate of 6.99%, a loan amount of $10,000, and a repayment term of 180 months, and assuming deferment of principal and interest payments for 4 ½ years. Terms will be as of 6/26/2017.
