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Maine Loan

Maine Loan

Sponsor: Maine Educational Loan Authority


Qualified Institutions & Level of Study

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
  • School must be accredited
Location of school:
  • United States
  • Canada

Application Requirements

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

General Information

Type of award:
  • Private
  • Loan
Total amount awarded:
  • $16,472,000
Number of applicants:
  • 2,162

Contact Information

  • 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

Please note:

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.


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