Education Loans

Your education is an important matter.

We can help you save time, money, and pay off your student loans faster. In partnership with Finance Authority of Maine (FAME), we offer student loans and consolidation options to fit your needs.

Finding the best solution to help your education loan repayment needs.

Whether combining student loans to pay them off more quickly or trying to find a more affordable monthly payment to bring your finances in line, consolidation or refinancing can be a powerful tool to help reach your goals.

Why refinance your student loans?

Competitive fixed rate and variable rate options:
- Fixed interest rates and fees – Application & Solicitation Disclosure(Opens in a new window)
- Variable rates and fees – Application & Solicitation Disclosure(Opens in a new window)
Combine many student loan payments into one payment
The ability to refinance a variety of educational loans: federal, private, plus, etc.
It is easy—apply online with Finance Authority of Maine (FAME)

IMPORTANT: When determining what loans you wish to refinance, be sure to weigh the pros and cons of doing so. Federal loans come with some benefits that may or may not apply to you. Some examples of those benefits are loan forgiveness programs for certain professionals, the option to postpone payments based on financial hardship, and a wide variety of payment plans. These benefits and protections do not transfer to private student loans.

How much can you borrow?

Minimum loan amount: $10,000
Maximum loan amount: $250,000 (total student debt cannot exceed this amount)

When do you need to start repaying your loan?

Payment of principal and interest begins immediately after the loan closes. There is no deferment should you decide to go back to school, so be sure to carefully consider if now is the right time for you to refinance your student loans.

What information do you need to get started?

Lender name, address, and phone number
Your current interest rates
Balance: the total amount you owe on each loan you wish to refinance/consolidate
Current monthly payment(s) on each of your student loans
Months remaining in the payback of each of your loans
Any benefits, including discounts, that initially came with your loan(s)

Apply for Refinance or Consolidation with Finance Authority of Maine (FAME)

Loan assistance to help you pay for your higher education.

Your future is bright! But sometimes your savings and financial aid options aren't enough to cover the full cost of your higher education. A private student loan can help you meet the cost of your higher education.

Why choose a student loan with us?

Competitive variable rates—see our Application and Solicitation Disclosure(Opens in a new window).
It is easy—apply online with Finance Authority of Maine (FAME)

What do you need to be eligible?

You must be enrolled, at least half-time, in an eligible degree or certificate program
School certification is required
You must meet credit standards (with or without a co-applicant)
Maine residents going to Maine or out-of-state colleges and universities are eligible

How much can you borrow?

Maximum loan amount: cost minus aid (maximum $40,000 per year, $200,000 total)
Minimum loan amount: $1,500

When do you need to start repaying your loan?

You can start payments of principal and interest right away
You can defer payments of principal and interest while you are enrolled in school at least half-time—principal and interest payments begin following a six-month grace period after you leave school
You can defer payments of principal and make interest-only payments while you are enrolled in school at least half-time—full principal and interest payments begin following a six-month grace period after you leave school

Apply for a Private Student Loan with Finance Authority of Maine (FAME)

Check Your Application Status

You may check your applications status, continue to a previous application, or complete the co-applicant portion of the application on CampusDoor's portal.

Manage My Student Loan Application