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Educators for Maine Loan Forgiveness

Educators for Maine Loan recipients may be eligible for loan forgiveness.

Borrowers may have one year of their loan forgiven for each year of eligible return service as a teacher, including speech pathologist, or child care provider.

In addition, certain borrowers may have two years’ of their loan forgiven for each year of eligible return service teaching, including speech pathology, in an underserved subject area or underserved geographic area.

More information about forgiveness eligibility can be found in the Educators for Maine – Loan Forgiveness and Repayment Options brochure

Who is eligible for loan forgiveness (“return service”)?

Only Educators for Maine Loan recipients who are also one of the following:

  1. Educators who are:
    • Certified by the Maine Department of Education
    • Employed at a qualifying school
    • Employed as an elementary or secondary teacher, specialized subject teacher, vocational or industrial arts teacher including the following:
      • Classroom teacher
      • Itinerant teacher
      • Guidance counselor
      • Librarian-media specialist
      • Special education teacher
      • Special teacher of reading
      • Speech pathologist/therapist
      • Chapter 1 tutor
  2. Jobs for Maine’s Graduates specialists with appropriate certification
  3. Child care providers who:
    • Received a degree or certificate from a child care development program.
    • Are employed at an eligible child care facility.

Return service must be performed within ten years of graduation or completion of certification coursework.

How do I apply for loan forgiveness?

Once you are employed:

  1. Submit documentation to FAME:
    • Proof of teacher certification from the state of Maine.
    • Teachers and Jobs for Maine’s Graduates specialists must provide a signed school employment contract.
    • Child care providers must provide a letter of employment and a copy of their college transcript showing evidence of an appropriate degree or certificate.
  2. FAME will review for eligibility and let you know if you have been approved. You will not need to make payments while you are employed in a return service position.
  3. At or near the end of your first year of return service, FAME will send you an employment verification form which must be completed and returned to FAME in order to process forgiveness of the eligible portion of your loan.

How do I qualify for additional loan forgiveness?

Two years’ worth of your loan may be forgiven for each year that you are a full-time teacher, including speech pathologist, in an eligible Maine school in an underserved subject area or underserved geographic area.

Underserved subject areas and underserved geographic areas are determined by the Maine Department of Education and may change each year.

What if I am not eligible for forgiveness and I have to repay my loan?

Repayment must be completed according to the terms specified in your promissory note. Loan repayment will begin six months following the month you graduate, complete your coursework or withdraw.

What if I am having difficulty making my monthly payments?

Contact FAME to discuss alternative payment arrangements. We may also grant a deferment in certain circumstances. We typically require interest payments during periods of deferment and do not grant more than a total of 36 months of deferment.

This program is governed by Maine law as set forth in 20-A M.R.S.A. §12501 et seq. and Chapter 610 of the Rules of the Finance Authority of Maine.