Educators for Maine Program
The Educators for Maine Program is a competitive, merit-based, forgivable loan for current Maine students pursuing careers in education or child care and planning to work in Maine after graduation.
How do I apply?
The Educators for Maine Program application cycle is closed for the academic year 2020-2021.
Who is eligible?
- Maine residents.
- Graduating high school seniors, and undergraduate and graduate students accepted into postsecondary degree programs.
- Students must have a cumulative grade point average of at least 3.0 on a 4.0 scale.
- Undergraduate students must be enrolled full-time in an accredited U.S. college or university. Graduate students must be enrolled at least half-time in an accredited U.S. college or university.
- Students must be pursuing initial certification as a teacher, including speech pathology, or child care provider qualifications.
How are students selected to receive the loan?
New applications are reviewed based on:
- Academic performance
- Grammar, style, and content of a 500-word essay
- Preference is given to those enrolled in underserved subject area programs
- Awards and special honors
- Relevant activities
What are the 2020-2021 academic year loan amounts?
- For undergraduate students, the loan amount is $4000
- For graduate students, the loan amount is $3000
- Award amounts are subject to change annually, but not less than $3,000 for undergraduate students and not less than $2,000 for graduate students.
Is this loan renewable?
Yes, for up to 8 full-time semesters undergraduate and 4 full-time equivalent semesters graduate! To receive renewal funding, the completed renewal application must be completed on or before May 1. The FAFSA must be filed by May 1. You must continue to be a Maine resident and maintain a minimum cumulative GPA of 2.5 on a 4.0 scale.
The renewal loan amount is not guaranteed to be the same amount received previously.
FAME will email current recipients a link to the online renewal application by the end of February.
How are loan funds paid to the college/university?
FAME pays loan funds directly to the college/university for credit to your account.
What else should I know?
If you do not perform eligible work at an eligible Maine school or child care facility, you must repay the loan to FAME with interest. Currently, the interest rate for new loans is fixed at 5.0%.
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.