Loan Programs
Several loan programs exist to help defer the costs of college. The information below is provided as a guide to select the loan program that is right for you.
A federal student loan is a form of financial aid that must be repaid, with interest. It is important to understand the types of federal student loans available, the terms of each loan, and your responsibility for repaying the loans.
The State of Maine sponsors several loan programs that are targeted to students seeking studies in a specific profession such as education or healthcare. Additional details may be found under the Maine Financial Aid section of this site.
Alternative loans provide a source for financing costs of your education not covered by other forms of financial aid.
It is good practice to document the terms of the various loans you are exploring to allow comparison across several important factors. FAME has created a simple worksheet to help you.
It is easy to fall victim to loan offers that come in the mail, over the Internet, or in your private email. Read this guide to protect yourself.
Stafford Loans are the primary loans offered by the federal government. FAME has compiled a quick reference guide for the Stafford Loan Limits as of 2008.