Maine Loan

Maine Loan

Sponsor: Maine Educational Loan Authority

Award may be used for:

• Full-time study
• Part-time study
• Any undergraduate study
• Any graduate study

Award may be used at:

• Vocational/technical school
• Two-year college
• Four-year college
• Graduate school

Accreditation:

• School must be accredited

Location of school:

• United States
• Canada

Applicant must demonstrate:

• Proof of eligibility

Other application requirements:

• Income information/credit analysis

Additional information:

• Loans available to Maine residents attending approved schools and out-of-state students attending Maine schools
• May borrow full cost of education minus other financial aid
• May be used to pay prior balance up to one academic year
• Applicant has 4-20 years to repay, depending on amount owed
• See Website for interest rates, payment options, and additional information
• Applications accepted year round
• Minimum loan amount is $1,000

Type of award:

• Private
• Loan

Total amount awarded:

• $16,472,000

Number of applicants:

• 2,162

• Maine Educational Loan Authority
  One City Center, 11th Floor
  Portland, ME 04101
• Phone: 800-922-6352
• Fax: 207-791-3616
• Email: customerservice@mela.net
• Web: www.mela.net

Carefully review the requirements to be sure you qualify for this source of financial aid and confirm information with the program before applying. Sponsoring organizations may have changed policies, awards, or requirements since supplying their information.