University of Maine at Farmington - Educators For Maine Loans

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224 Main Street
Farmington, ME 04938
Phone: (207) 778-7100
FAX: (207) 778-8178
TDD: (207) 778-7000
e-Mail: umfaid@maine.edu

Educators for Maine is a forgivable loan program administered by the Finance Authority of Maine (FAME) for Maine students pursuing careers in education. Awards are based on academic achievement. Awards are up to $3,000 per year (total of $12,000) for full-time undergraduate students and up to $1,500 per year (total of $6,000) for post-baccalaureate students. These are renewable loans that can be forgiven by teaching in a Maine public elementary or secondary school upon graduation. Otherwise, the loan will need to be repaid at a rate that is 0.75% plus the Federal Stafford Loan Program interest rate that was in effect at the time one is initially approved to participate in the Educators for Maine Program. (For example, if the Stafford rate were 6%, repayment for the Educators For Maine Loan would be at 6.75% until the loan is paid in full).

You may apply for this program if you are:

Pursuing a career in education, AND
A resident of Maine, AND
A high school senior, GED recipient, or a college student currently enrolled in a higher education institution and are maintaining a minimum 3.0 GPA (on a 4.0 grade point scale).

You may also apply for this program if you:

Are a resident of Maine, AND
Already hold a bachelor's degree with at least a 3.0 GPA (on a 4.0 Grade point scale), AND
Are enrolled in or applied for enrollment in a post baccalaureate program leading to certification as a teacher, speech pathologist, or child care provider.

Applications are available in the financial Aid Office as well as through FAME. Applications must be postmarked by May 15, 2007.

Application for Graduating High School Seniors

Application for Undergraduate Students

Application for Post-Baccalaureate Students