If you are like many students and families, you will still have a gap between what you can pay and your financial aid package (including federal loan options). Many families borrow private student loans to pay the difference.
This website provides tools that help you become more informed and borrow responsibly. For instance, there are some important steps you can take to lower the amount, or even eliminate the need to borrow. It is also important that you fully understand the differences between federal and private student loans, including who is responsible for repayment.
Private student loans are usually credit-based, offered through a bank, credit union or state agency. Not all private student loans are the same. There are different types of interest rates, repayment options, and more. Be sure to read all disclosures provided to you when you apply for a loan.
These Maine lenders all offer private student loans with various features, terms and fees. You can select a local Maine lender from the Maine Private Education Loan Network by clicking the logo link to see information about their loan offerings or to access their application. You may also use this handy tool to get a quick glance or comparison at the lenders’ loan features, terms and fees.