The Maine Loan TM can be acquired to qualified undergraduate and graduate pupils to borrow money just as much as the total cost of education less other college financing. This loan system exists to bridge the room relating to the complete cost of college and mainstream academic money resources. The Maine Loan TM is MaineвЂ™s Alternative scholar Loan TM provided by Finance Authority of Maine (FAME).
This pupil that is alternate offers three fixed interest rates regarding the re payment choice chosen. All three interest rates whilst the 0% upfront/guarantee fee are less than the 2019вЂ“2020 Federal Direct PLUS Loan, and are also on the basis of the re re re payment option you select.
- A interest this is certainly fixed of 4.49% 1, 5.49% 2, and 6.49% 3 with regards to the re payment option selected. All costs are less than the 2019-20 Federal Direct (Parent/Grad) PLUS Loan.
- Approved borrowers obtain the exact same interest that is fixed for the re payment option chosen, irrespective of credit rating or if perchance you will see co-borrowers.
- There's absolutely no (0%) guarantee expense.
- 0.25% interest decrease with automatic debit re re re re re payments. 4
- A minimum that is low number of $1,000.
- No annual or borrowing that is aggregate.
- Six (6) 30 days beauty period.
- No application cost.
- No penalty that is pre-payment.
- 12 months three (3) disbursements per educational.
- A number of payment terms just as much as fifteen (15) years, regarding the re re re payment option selected.
- Good, personalized customer care operating out of Maine.
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