Paying Your Balance
Parents Loans for Undergraduate Students (PLUS):
The eligible amount is equal to the cost of
attendance minus financial aid. The
variable interest rate is changed every July 1.
Repayment begins 60 days after disbursement. For
more information, go to the
Direct Loan
website.
Key
Alternative Loan: This private education loan is
made in the student's name, usually with a
cosigner. No principle payments are
required while the student borrower is enrolled
at least half-time. The loan is approved
based on the credit worthiness of applicant and
cosigner.
Maine Loan:
The Maine Loan is available to credit-worthy
Maine residents, 18 and older, attending
approved schools in the United States and
Canada, and to out of state students attending
approved schools in Maine. Students may
borrow from $1000 up to the cost of attendance
minus any financial aid received.
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