FAME Federal Student Loan Programs -

Facts for 2009-2010

 

FAME Federal Student Loan

  • Borrower must be enrolled at least half-time.
  • Lender code: 834105
  • Interest Rates:
    • Subsidized Stafford Loans for undergraduate students are fixed at 5.6%;
    • Subsidized Stafford Loans for graduate students are fixed at 6.8%;
    • Unsubsidized Stafford Loans for all students are fixed at 6.8%.
  • 1.5% federal default/origination fee.
  • Repayment begins six months after student ceases enrollment on at least a half-time basis.

FAME Federal PLUS Loan

  • Borrower must be a credit-worthy parent of a dependent student attending school at least half-time.
  • Lender Code: 834105
  • Interest rate is fixed at 8.5%.
  • 4% federal default/orgination fee.
  • Repayment begins within 60 days of full loan disbursement.
  • Deferment is available upon request while the student and/or parent is enrolled at least half-time.  Interest does accrue during periods of enrollment.

FAME Federal Grad PLUS Loan

  • Borrower must be a credit-worthy student enrolled at least half-time in a master's or professional degree program.
  • Lender Code: 834105
  • Interest rate is fixed at 8.5%.
  • 4% federal default/orgination fee.
  • Repayment begins within 60 days of full loan disbursement.
  • Deferment is available upon request while the student is enrolled at least half-time.  Interest does accrue during periods of deferment.
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News of Interest

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  • Tuesday, August 12, 2014 1:12 PM

    The Finance Authority of Maine (FAME) recently announced that the Client Select Series of the NextGen College Investing Plan® (NextGen) is now the nation’s second-largest advisor-sold Section 529 college savings plan, according to Strategic Insight, a mutual fund industry research firm.  Administered by FAME in conjunction with Program Manager Merrill Lynch, Pierce, Fenner & Smith Incorporated, NextGen has over $8 billion in assets under management between the advisor-sold plan and the direct-sold plan as of June 30, 2014.

     

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  • Tuesday, June 10, 2014 9:37 AM

    Project participants to receive technical assistance and support to explore redesign of state student aid programs, helping to maximize impact of state aid programs and meet college enrollment and degree-attainment targets.

    Read more...