Maine Student Loan And Financial Aid Programs
Maine has several private student loan and financial aid programs that can help you pay for college. If you're going to be attending college in Maine, you need to be looking to take advantage of these programs.
These programs are designed to help make college more affordable - so that you can get the education you need. These programs can include scholarships, grants, and student loans.
Don't forget that there are Federal student loan programs available as well. You can find out more on how to get a Federal student loan here.
There is also a specific order of operations to pay for college that we recommend students follow. These programs specific to the State of Maine can help you to avoid borrowing more money than you need to.
Maine Student Loan Programs
Maine does have several specialty loan programs that offer forgivable student loans for certain fields. This includes:
Educators for Maine - The Educators for Maine Program is a competitive, merit-based, forgivable loan program for Maine students pursuing careers in education or child care and planning to work in Maine after graduation. This loan offers up to $3,000 annually for undergraduate and $2,000 annually for graduate students. Learn more here.
Maine Dental Education Loan Program - This loan provides up to $20,000 annually (with an $80,000 limit) for students enrolled in a dental school. Learn more here.
Maine Health Professionals Loan Program - The Maine Health Professions Loan Program is a need-based, competitive loan for Maine students pursuing postgraduate medical, dental and veterinary education. This loan offers up to $25,000 annually (up to $100,000 in total). Learn more here.
Maine Medical Education Foundation Loan Program - The Maine Medical Education Foundation (MMEF) Loan Program was established in 1959 by the Maine Medical Association (MMA) to make loans available to Maine residents enrolled in or accepted to approved medical schools. These loans range from $2,000 up to the full cost of education. Learn more here.
If you're just looking for private student loan options, we recommend:
- Credible - Like the Kayak of student loans, they help you shop around and compare options. Try Credible here.
- Commonbond - One of the best private student loan lenders. Try Commonbond here.
For other private student loan options, check out this list: Where To Find The Best Private Student Loans.
Maine Scholarship Programs
Maine has several scholarships available to students who attend school in Maine.
Maine Community Foundation Scholarships
Maine Community Foundation scholarships provide financial assistance for Maine residents attending accredited colleges, universities, or technical schools.
There are multiple scholarship opportunities depending on the type.
Learn more about the Maine Community Foundation here.
Doctors For Maine's Future Scholarship
The Doctors for Maine’s Future Program provides scholarships for eligible medical students who enroll in a qualifying Maine-based medical school program. Currently, Tufts University School of Medicine Maine Medical Center Program and the University of New England College of Osteopathic Medicine participate in the Doctors for Maine’s Future Scholarship Program.
This scholarship offers up to 50% of the institution’s cost of attendance or $25,000 annually, whichever is less.
Learn more about the Doctors For Maine's Future Scholarship.
Maine Grant Programs
Maine also has a grant program to provide need based financial aid to Maine residents.
Grants are one of the best forms of financial aid because, in most circumstances, you don't have to pay the money back.
State of Maine Grant Program
The State of Maine Grant Program provides need-based grants to Maine undergraduate students. For the 2018–2019 academic year, the maximum grant award amount is $1,500.
You can learn more about the State of Maine Grant Program here.
If you already have student loans and are looking for options as a Maine resident, check out our Maine Student Loan Forgiveness Program page. That page has all the different options available to Maine residents to potentially get some of your student loan debt forgiven.
You might also look at refinancing your student loans and saving money in interest while also potentially lowering your payment. Check out our guide on the Best Places To Refinance Your Student Loans.
Finally, check out the other student loan and financial aid programs by state.