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Maine Health Professions Loan Program

The Maine Health Professions Loan Program is a need-based, competitive loan for Maine students pursuing postgraduate medical, dental and veterinary education. The number of loans awarded each year is limited and dependent upon available funding.

How do I apply?

Download the Maine Health Professions Loan Program 2019 Application.

  1. Complete the Health Professions Loan Program Application.
  2. Provide a copy of all your undergraduate and graduate transcripts.
  3. Provide Maine residency documentation (FAME may ask for additional documentation which may include parents’ tax returns):
    • Signed copy of your most recent Maine income tax return (do not include schedules)
    • Copy of your current driver’s license
    • Copy of your vehicle registration (indicate if you do not have one)
  4. File the FAFSA by May 30.

The completed application must be postmarked on or before May 30. The FAFSA must be filed by May 30.

Who is eligible?

  • Maine residents (for purposes other than education) for one year prior to matriculation into medical school
  • Students admitted to a program of allopathic, osteopathic, veterinary medicine or dentistry at an accredited institution of medical education

How are students selected?

Priority is given to students who have the greatest financial need. Further priority is given to allopathic and osteopathic students not participating in Doctors for Maine’s Future Scholarship Program, then to dental and veterinary students.

What are the maximum loan amounts?

Up to $25,000 annually, up to $100,000 total, for a maximum of four years (except that students benefiting from the Doctors for Maine’s Future Scholarship Program may not receive more than $10,000 annually, up to $40,000 total).

Is this loan renewable?

Yes! Loans are renewable if funding is available. To receive renewal funding, the completed renewal application must be postmarked on or before May 30. The FAFSA must be filed by May 30.

Renewal applications are mailed to current recipients by the end of February.

How are the funds paid?

Loan funds are paid directly to the school for credit to your student account.

What is the interest rate?

The interest rate can be as low as 0% and is based on location and type of practice and/or population served.

Maine Health Professions Loan Program Repayment Chart

For qualifying borrower with an initial program loan made on or after January 1, 2011:

Practice Type and LocationAnnual Interest Rate
1. Primary healthcare physicians and general dentists practicing at least 20 hours/week in a Health Professional Shortage Area (HPSA) in Maine. 0%
2. Veterinarians practicing in areas of Maine with insufficient veterinary services and providing at least 20 hours/week of veterinary services to livestock. 0%
3. Primary healthcare physicians and general dentists attending to patients at least 20 hours/week in a non-HPSA in Maine; any physician attending to patients at least 20 hours/week in an underserved specialty in Maine; any physician attending to patients in an underserved population group in Maine at least 20 hours/week.3%
Practicing in Maine, but not subject to 1, 2, or 3 above. 5%
Not practicing in Maine or withdrew from professional education. 8%

Students who obtained their first program loan prior to January 1, 2011 are subject to different provisions. Learn more about repayment and forgiveness for borrowers with an initial loan made prior to January 1, 2011.

This program is governed by Maine law as set forth in 20-A M.R.S.A. §12101 et seq. and Chapter 617 of the Rules of the Finance Authority of Maine.