When the time comes to repay your student loans, there are some things you need to know. Whether it’s how to do it or how to refinance or consolidate to save, FAME has the answers.
Important Federal Education Loan Updates
For the latest updates and information regarding Federal Student Loan Debt Relief, Repayment Restart, the SAVE Repayment Plan, and more, please visit
Student Loan Repayment
Wondering how to go about repaying your student loan? FAME has pulled together what you need to know and tools to help.
Consolidation and Refinancing
Combining several student loans into one new loan or refinancing a loan may result in a lower single monthly payment and/or lower interest rate.
Debt Reduction and Loan Repayment Programs
FAME partners with the state and other organizations to create special loan repayment and student loan reduction programs.
The Alfond Leaders Student Debt Reduction Program provides student loan repayment assistance to people who live and work in Maine in a STEM (science, technology, engineering, and math) designated occupation at a Maine-based employer. Alfond Leaders may qualify for loan repayment of up to half of their outstanding student loan balance at the time of application to the program, not to exceed $60,000.
The Maine Dental Education Loan Repayment Program provides loan repayment assistance to dentists and certain dental auxiliary health professionals practicing in underserved areas in Maine. Applications are due May 31, 2024.
The Maine Health Care Provider Loan Repayment Pilot Program provides one-time funds to support rebuilding Maine’s health care industry workforce. The program attracts and retains health care professionals in Maine by repaying outstanding student loans of selected participants who commit to living and working in Maine for at least three years.
The Governor’s 2023 Supplemental Budget, signed on July 11, 2023, includes additional funding for the Maine Health Care Provider Loan Repayment Pilot Program. Applications are due March 31, 2024.
The Nursing Education Loan Repayment Program provides student loan repayment assistance to registered nurses working in Maine as nurse educators or relocating to work in Maine in a position as a nurse educator at a nursing education program.
The Governor’s 2023 Supplemental Budget, signed on July 11, 2023, includes additional funding for the Maine Nursing Education Loan Repayment Pilot Program. Applications are due March 31, 2024.