Most families pay for college using a variety of sources. Borrowing is often one of the funding sources. There are different types of student loans that you can use. This section explains more about each one.

General Loan Programs

These student loan programs are open to all.

Federal Student Loan Programs

Students and parents may borrow from the federal government to help pay for college. Federal loans offer some low interest rates and flexible repayment options.

Private Student Loans

Private student loans are credit-based loans offered through banks, credit unions, and state agencies. Usually, the student is the borrower and will need a creditworthy cosigner like a parent or grandparent.

Health Professions Loan Programs

The are several loan programs for Maine students pursuing a health professions degree.

Additional Programs

Educators for Maine Program

The Educators for Maine Program is a competitive, merit-based, forgivable loan for Maine students enrolling in or pursuing undergraduate or graduate education degrees. Applicants must demonstrate an interest in careers in education or child care and are planning to work in Maine after graduation.