Borrowers can select from three repayment that is different:
- Immediate Repayment – Begin regular re re payments of principal and interest within 51 times of disbursement.
- Interest just Repayment – Defer principal payments while enrolled at minimum half-time. Interest payments that are only needed.
- Deferred Repayment – Defer principal and interest payments while signed up for a diploma giving college at half-time that is least. Unpaid interest will be capitalized as soon as the loan goes into payment.
Starting regular re payments of principal and interest immediately will save you an amount that is substantial of within the life of the mortgage.
The Maine Loan additionally the Maine Medical Loan are administered by FAME. They certainly were formerly provided by the Maine Educational Loan Authority (MELA).
P.O. Box 9495 Community DriveAugusta, ME 04332
1 The APR is 4.49%. Read more