- Immediate Repayment – Begin regular payments of interest and principal within 51 times of disbursement.
- Interest Only Repayment – Defer principal payments while enrolled at half-time that is least. Interest payments that are only needed.
- Deferred Repayment – Defer principal and interest payments while signed up for a qualification giving college at least half-time. Unpaid interest will be capitalized once the loan goes into payment.
Starting regular re payments of principal and interest instantly will save you an amount that is substantial of within the life of the mortgage.
The Maine Loan and also the Maine Medical Loan are administered by FAME. They certainly were previously provided by the Maine Educational Loan Authority (MELA).
P.O. Box 9495 Community DriveAugusta, ME 04332
1 The APR is 4.49%. The APR, or apr, could be the interest that is effective whenever all interest fees are included. This APR is dependent on a set interest of 4.49%, that loan number of $10,000, a payment term of 120 months, and presuming instant principal and interest re re payments.