Repaying Student Loans - FAME Maine

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File the FAFSA

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Start to Save

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Pay for School

Paying for education after high school usually comes from a variety of sources.

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Ways to Save

There are many ways to save for college. Learn more about options that may work for you.

NextGen 529

A great way to help your child save for college. NextGen 529 is Maine’s section 529 plan which many Maine families use to save for college.

Tips to Help You Save

It can be hard to find money in your budget for college savings. These tips will help you find ways to save money.

Getting Financial Aid

There’s money available to help pay for college. Learn more about applying for financial aid and filing the FAFSA.

Free Community College is Here

If you’re a Maine student who earned (or will earn) a high school diploma or equivalent in 2020, 2021, 2022, or 2023, you can attend Maine community college tuition free, but you’ll need to file the FAFSA. The same will be true for classes of 2024 & 2025.

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Scholarships provide free money to pay for college. Start your search for Maine scholarships here.

Resources, Videos, and Calculators

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Fees and Rates

Quick link to FAME fees and rates for lender programs.

Maine New Markets Capital Investment Program

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Tools to help you support youth financial capability.

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Resources to help your employees improve their financial well-being.

Financial Wellness Social Media Toolkit

Our free toolkit can be used by anyone interested in launching a Financial Literacy social media campaign.

Employee Financial Wellness Roadmap

Improving employees’ financial wellness helps improve productivity and satisfaction. Assistance available to help you create a win-win program.

Claim Your Future

An interactive program that encourages high school students to explore the return on investment of various career pathways and financial decision-making.

Steps to Financial Wellness

Setting goals, creating a budget, managing debt and credit, and MORE! All great steps to help you become financially capable.

Financial Wellness Resources

FAME provides free financial wellness programs to help Maine people become more financially capable.

Monthly Financial Check-in with FAME

Free Webinars to learn more about preparing for and paying for higher education, including refinancing student loan debt.

Resources for Younger Students

Use Invest in ME Reads Program or the Ca$h & Max workbooks to start conversations about money with younger students.

Resources for High School and Beyond

Play Claim Your Future – career & budget game or use iGrad Online Financial Education with your students, and more…

Resources for Educators and Professionals

FAME has developed extensive resources for educators and professionals who support financial education in their school or community.

Employee Financial Wellness Roadmap

This roadmap has resources and support to guide the development of life-changing financial education for your employees.

Resources for Employees

Free flyers, videos, webinars, and more to share with your employees as employer-provided benefits.

Home > Affording Higher Education > Pay for School > Repaying Student Loans

Looking for a Lower Rate?

Find a Maine lender who may be able to help you refinance.

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

Important Federal Loan Updates

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.

Student Loan Repayment

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.

Consolidating and Refinancing Student Loans

Debt Reduction and Loan Repayment Programs

FAME partners with the state and other organizations to create special loan repayment and student loan reduction programs.

Alfond Leaders Student Debt Reduction Program

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.

Maine Dental Education Loan Repayment Program

The Maine Dental Education Loan Repayment Program provides loan repayment assistance to dentists practicing in underserved areas in Maine.

Maine Health Care Provider Loan Repayment Pilot Program

The Governor’s 2023 Supplemental Budget, signed on July 11, 2023, includes additional funding for the Maine Health Care Provider Loan Repayment Pilot Program.

We anticipate launching a new application cycle in 2023-2024. When we have an update to share, it will be posted here as soon as possible. We recommend visiting this page periodically to check for program updates.

Nursing Education Loan Repayment Program

The Governor’s 2023 Supplemental Budget, signed on July 11, 2023, includes additional funding for the Maine Nursing Education Loan Repayment Pilot Program.

The next application cycle will open on October 1, 2023 and close on November 1, 2023.