The Maine Loan. The Maine Loan TM occurs to qualified

The Maine Loan. The Maine Loan TM occurs to qualified

The Maine Loan TM are available to qualified undergraduate and graduate pupils to borrow money just as much as the price that is total of less other college capital. This loan system exists to bridge the area concerning the complete cost of college and main-stream academic financing resources. The Maine Loan TM is Maine’s Alternative scholar Loan TM provided by Finance Authority of Maine (FAME).

Loan Features

This pupil that is alternate provides three fixed interest rates based on the re re payment choice chosen. All three rates of interest although the 0% upfront/guarantee fee are less than the 2019–2020 Federal Direct PLUS Loan, and are also on the basis of the re re payment option you select.

  • A interest that is fixed of 4.49% 1, 5.49% 2, and 6.49% 3 according to the payment option selected. All costs are less than the 2019-20 Federal Direct (Parent/Grad) PLUS Loan.
  • Approved borrowers obtain the exact same interest that is fixed for the re re re re payment option chosen, irrespective of credit rating or if maybe you will discover co-borrowers.
  • There’s absolutely no (0%) guarantee expense.
  • 0.25% interest decrease with automatic debit re re payments. 4
  • A minimum that is low number of $1,000.
  • No annual or aggregate borrowing limitations.
  • Six (6) 30 days beauty period.
  • No application cost.
  • No penalty that is pre-payment.
  • Year three (3) disbursements per scholastic.
  • A number of repayment terms up to fifteen (15) years, according to the re re re payment option plumped for.
  • Top quality, personalized customer care located in Maine.

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