Repaying Student Loans - FAME Maine

Photo courtesy The University of Maine

File the FAFSA

There is money available to help pay for school. Begin by filing the FAFSA.

Make a Plan

Making a plan for saving is the first step towards making education after high school a reality.

Start to Save

Saving now will put you in a better position to pay for education after high school later.

Pay for School

Paying for education after high school usually comes from a variety of sources.

Resources for Professionals

Find helpful resources for educators, financial aid offices, and other professionals working with students.

Find a Scholarship

Use FAME’s online search to find Maine scholarships.

Your Financial Wellness

Learn more about managing your finances and improving your financial health.

Resources for Educators

FAME has resources to help you serve your students and their families.

Planning by Age

There are things you can do at every stage to prepare for higher education.

Planning Tips For …

FAME provides specific resources for New Mainers, Adult Students, Military Families and Veterans, and Employers.

Financial Wellness

Learn more about managing your finances and improving your financial health.

Ways to Save

There are many ways to save for college. Learn more about options that may work for you.

NextGen 529

A great way to help your child save for college. NextGen 529 is Maine’s section 529 plan which many Maine families use to save for college.

Tips to Help You Save

It can be hard to find money in your budget for college savings. These tips will help you find ways to save money.

Getting Financial Aid

There’s money available to help pay for college. Learn more about applying for financial aid and filing the FAFSA.

Free Community College is Here

If you’re a Maine student who earned (or will earn) a high school diploma or equivalent in 2022, 2023, 2024 or 2025, you can attend Maine community college tuition free, but you’ll need to file the FAFSA first.

Scholarship Search

Scholarships provide free money to pay for college. Start your search for Maine scholarships here.

Resources, Videos, and Calculators

Use FAME’s Resources & Tools to help you afford higher education.

Resources for Educators

Videos, webinars, and more to help you serve your students and families, as well as professional development opportunities.

Resources for Financial Aid Offices

EPIC login and financial education resources to share with students.

For Business Owners

For over 40 years FAME has helped Maine people reach their business goals.

For Lenders

FAME helps Maine lenders and their customers get to "yes."

For Investors

FAME encourages investments in Maine businesses, both directly and through private venture capital funds.

Commercial Loan Insurance

FAME’s commercial loan insurance program helps lenders make business loans by reducing risk.

Direct Loan Programs

When traditional loans are not the solution, FAME’s business loans may be the answer.

Business Roadmap

Learn about key steps in the business planning and financing process.

Business Roadmap

Whether you’re starting a business or seeking financing for an existing one, learn about key steps in the business planning and financing process.

Financing Programs

When traditional loans aren’t an option for your business, FAME’s financing programs may be the answer.

Resources for Business Owners

A collection of resources to help you plan and build your business.

Maine Funding Network

This network of alternative funding and counseling agencies can help you start or grow your Maine business.

Commercial Loan Insurance for Lenders

FAME’s commercial loan insurance insures a portion of loans made through participating financial institutions.

OLA Log In

Quick access to the OLA log in page for existing OLA users.

FAME Business Webinars

Miss out on a webinar? Find recordings and resources for FAME Business Webinars here.

Fees and Rates

Quick link to FAME fees and rates for lender programs.

Maine New Markets Capital Investment Program

Provides tax credits to investors in community development entities that reinvest in businesses located in low-income Maine communities.

Maine Seed Capital Tax Credit Program

Encourages investments in small businesses by providing credits to outside passive investors.

Free Online Financial Education

Powered by iGrad® and Enrich®, FAME offers free online financial education to support Maine people during high school, college, and beyond.

Build Your Financial Wellness

Free resources to guide you on your path toward financial freedom.

Grow Your Student or Child's Financial Wellness

Tools to help you support youth financial capability.

Invest in Your Employees’ Financial Wellness

Resources to help your employees improve their financial well-being.

Financial Wellness Social Media Toolkit

Our free toolkit can be used by anyone interested in launching a Financial Literacy social media campaign.

Employee Financial Wellness Roadmap

Improving employees’ financial wellness helps improve productivity and satisfaction. Assistance available to help you create a win-win program.

Claim Your Future

An interactive program that encourages high school students to explore the return on investment of various career pathways and financial decision-making.

Steps to Financial Wellness

Setting goals, creating a budget, managing debt and credit, and MORE! All great steps to help you become financially capable.

Financial Wellness Resources

FAME provides free financial wellness programs to help Maine people become more financially capable.

Monthly Financial Check-in with FAME

Free Webinars to learn more about preparing for and paying for higher education, including refinancing student loan debt.

Resources for Elementary Students

Invest in your child’s future and build money skills for life.

Resources for High School and Beyond

Play Claim Your Future – career & budget game or use iGrad Online Financial Education with your students, and more…

Resources for Educators and Professionals

FAME has developed extensive resources for educators and professionals who support financial education in their school or community.

Employee Financial Wellness Roadmap

This roadmap has resources and support to guide the development of life-changing financial education for your employees.

Resources for Employees

Free flyers, videos, webinars, and more to share with your employees as employer-provided benefits.

Home > Affording Higher Education > Pay for School > Repaying Student Loans

Looking for a Lower Rate?

Find a Maine lender who may be able to help you refinance.

When the time comes to repay your student loans, there are some things you need to know. Whether it’s how to do it or how to refinance or consolidate to save, FAME has the answers.

Student Loan Repayment

Wondering how to go about repaying your student loan? FAME has pulled together what you need to know and tools to help.

Student Loan Repayment

Consolidation and Refinancing

Combining several student loans into one new loan or refinancing a loan may result in a lower single monthly payment and/or lower interest rate.

Consolidating and Refinancing Student Loans

Debt Reduction and Loan Repayment Programs

FAME partners with the state and other organizations to create special loan repayment and student loan reduction programs.

Alfond Leaders Student Debt Reduction Program

The Alfond Leaders Student Debt Reduction Program provides student loan repayment assistance to people who live and work in Maine in a STEM (science, technology, engineering, and math) designated occupation at a Maine-based employer. Alfond Leaders may qualify for loan repayment of up to half of their outstanding student loan balance at the time of application to the program, not to exceed $60,000.

Maine Dental Education Loan Repayment Program

The Maine Dental Education Loan Repayment Program provides loan repayment assistance to dentists and certain dental auxiliary health professionals practicing in underserved areas in Maine. Applications are due May 31, 2024.

Maine Health Care Provider Loan Repayment Pilot Program

The Maine Health Care Provider Loan Repayment Pilot Program provides one-time funds to support rebuilding Maine’s health care industry workforce. The program attracts and retains health care professionals in Maine by repaying outstanding student loans of selected participants who commit to living and working in Maine for at least three years.

Nursing Education Loan Repayment Program

The Nursing Education Loan Repayment Program provides student loan repayment assistance to registered nurses working in Maine as nurse educators or relocating to work in Maine in a position as a nurse educator at a nursing education program.