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.