AUGUSTA—Applications are now being accepted for state education loan and loan repayment programs administered by the Finance Authority of Maine (FAME).

FAME helps to create the workforce of the future by increasing the number of Maine residents with credentials of value. We do so in a variety of ways, including by providing various student financial aid resources – for current students, professionals in certain workforce areas, and new Maine residents. Below please find information about our education financing and other programs for which we are now accepting applications:

Loan Programs

Educators for Maine

• Merit-based forgivable loans for Maine students pursuing undergraduate or graduate education degrees. Applicants must demonstrate an interest in education, speech pathology, or a career in childcare and are planning to work in Maine after graduation.
• For academic the year 2024-2025, awards will be $5,000 for undergraduates and $4,000 for graduate students.

• Loans are forgiven if the recipient is an educator or speech pathologist in an eligible elementary or secondary school or an eligible childcare program in the state of Maine. 
• For more information and application link, go to FAMEmaine.com/applications.

Maine Health Professions Loan Program

• The Maine Health Professions Loan Program is a need-based loan of up to $25,000 for Maine residents pursuing post-graduate medical, dental, or veterinary education. 
• No interest accrues while in an eligible program, including an eligible residency program. During repayment, interest rate can be as low as 0% based on location and type of practice.
• For more information and application link, go to FAMEmaine.com/MedLoans.

Maine Veterinary Medicine Loan Program

• This is a need-based forgivable loan for Maine students enrolled in a program leading to a Doctor of Veterinary Medicine degree.
• Maximum annual loan amount is $35,000.
• No interest accrues while in eligible program. During repayment, interest rate can be as low as 0% based on location and type of practice.
• Borrowers may qualify for loan forgiveness if practice is devoted to livestock or emergency and critical care, or if practice is in an underserved geographic region in Maine.
• For more information and application link, go to FAMEmaine.com/MedLoans.

Maine Dental Education Loan Program

• The Maine Dental Education Loan provides a forgivable loan to Maine residents who are pursuing dental education leading to a career as a dentist or other dental auxiliary profession.
• The program was recently amended to also include students pursuing careers as dental hygienists, dental therapists, expanded function dental assistants, and dental assistants.
• Applicants must demonstrate an interest in practicing primary dental care in an underserved population area in Maine and serving patients without regard of ability to pay.
• The maximum annual loan amount is $25,000.
• Borrowers may qualify for loan forgiveness if practice is in an underserved area of Maine and 25% of patients are accepted for treatment regardless of ability to pay.
• For more information and application link, go to FAMEmaine.com/MedLoans.

Loan Repayment Programs

Maine Health Care Provider Loan Repayment Pilot Program

• Loan repayment program that was established to support rebuilding Maine’s health care industry workforce by attracting and retaining health care professionals to address critical workforce shortages.
• FAME will pay up to $25,000 per year and, in aggregate, the lesser of $75,000 or 50% of a recipient’s outstanding education loan balance over three years.
• For more information and application link, go to FAMEmaine.com/applications.

Nursing Education Loan Repayment Program

• Loan repayment program for nursing educators who teach in a nursing education program in Maine and possess an outstanding education loan relating to a master’s or doctoral nursing degree.
• Program recipients may receive awards up to $40,000 ($13,334 annually) depending on highest degree attained and work status. Awards are disbursed over a three-year term.
• Program eligibility has been expanded to include part-time nurse educators (repayment amount up to $10,000 for master’s degree and up to $20,000 for doctoral degree, over a three-year term). 
• For more information and application link, go to FAMEmaine.com/applications.

Maine Dental Education Loan Repayment Program

• The Maine Dental Loan Repayment Program provides loan repayment assistance for dentists and certain dental auxiliary health professionals. 
• The program was recently amended to also include professionals who have obtained degrees related to dental hygienists, dental therapists, expanded function dental assistants, and dental assistants.
• Applicants must practice primary dental care in an underserved population area in Maine and serve patients without regard of ability to pay.
• New loan repayment recipients can receive up to $25,000 annually, up to $100,000 total. 
• For more information and application link, go to FAMEmaine.com/applications.

New Mainers

Foreign Credentialing and Skills Recognition Grant Program

• Program provides small grants to assist eligible immigrants living in Maine who are not yet eligible to work in the U.S. prepare for entry into the workforce.
• Grants for up to $1,000 are available to help pay for costs associated with the process of becoming work-ready while waiting for issuance of a work permit by federal immigration authorities.
• For more information and application link, go to FAMEmaine.com/CredGrant.